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Registration number: 03086346

Greystone Estates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Greystone Estates Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Greystone Estates Limited

Company Information

Directors

Mr J M Windle

Mr L M Windle

Registered office

5 Woodlands Walk
Skipton
North Yorkshire
BD23 1TZ

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Greystone Estates Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Greystone Estates Limited for the year ended 31 August 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Greystone Estates Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Greystone Estates Limited and state those matters that we have agreed to state to the Board of Directors of Greystone Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Greystone Estates Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Greystone Estates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Greystone Estates Limited. You consider that Greystone Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Greystone Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

2 April 2025

 

Greystone Estates Limited

(Registration number: 03086346)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,484

3,060

Investment property

5

2,320,498

2,430,498

 

2,322,982

2,433,558

Current assets

 

Debtors

6

98,240

61,942

Cash at bank and in hand

 

530,544

337,158

 

628,784

399,100

Creditors: Amounts falling due within one year

7

(94,198)

(58,020)

Net current assets

 

534,586

341,080

Total assets less current liabilities

 

2,857,568

2,774,638

Provisions for liabilities

(338,100)

(363,910)

Net assets

 

2,519,468

2,410,728

Capital and reserves

 

Called up share capital

2

2

Other reserves

1,012,439

1,089,438

Retained earnings

1,507,027

1,321,288

Shareholders' funds

 

2,519,468

2,410,728

 

Greystone Estates Limited

(Registration number: 03086346)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 April 2025 and signed on its behalf by:
 

.........................................
Mr J M Windle
Director

 

Greystone Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 Woodlands Walk
Skipton
North Yorkshire
BD23 1TZ

These financial statements were authorised for issue by the Board on 2 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Office equipment

50% reducing balance

 

Greystone Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Investment property

Investment properties are held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on a market value. Deferred tax is provided on these movements. Gains and losses arising from changes in fair value of investment properties are included in the Statement of Income and Retained Earnings in the period in which they arise.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

 

Greystone Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

8,949

12,418

21,367

At 31 August 2024

8,949

12,418

21,367

Depreciation

At 1 September 2023

7,066

11,241

18,307

Charge for the year

282

294

576

At 31 August 2024

7,348

11,535

18,883

Carrying amount

At 31 August 2024

1,601

883

2,484

At 31 August 2023

1,883

1,177

3,060

5

Investment properties

2024
£

At 1 September

2,430,498

Disposals

(110,000)

At 31 August

2,320,498

Investment properties are measured at fair value. Investment property valuations are based on a market value.

There has been no valuation of investment property by an independent valuer.

6

Debtors

2024
£

2023
£

Trade debtors

(244)

3,650

Prepayments

5,733

4,700

Other debtors

92,751

53,592

98,240

61,942

 

Greystone Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,285

3,714

Taxation and social security

78,538

39,935

Accruals and deferred income

2,475

2,475

Other creditors

11,900

11,896

94,198

58,020

8

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Mr J M Windle

53,592

399,152

(359,993)

92,751

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Mr J M Windle

26,815

54,472

(27,695)

53,592

This loan is unsecured, repayable on demand and interest is charged at the official rate.