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Company No: 14329366 (England and Wales)

GREY BUTTERFLY PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

GREY BUTTERFLY PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

GREY BUTTERFLY PROPERTIES LIMITED

BALANCE SHEET

As at 30 September 2024
GREY BUTTERFLY PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Investment property 3 900,000 829,998
Investments 4 2 2
900,002 830,000
Current assets
Debtors 5 26,340 0
Cash at bank and in hand 29,258 28,900
55,598 28,900
Creditors: amounts falling due within one year 6 ( 847,114) ( 846,921)
Net current liabilities (791,516) (818,021)
Total assets less current liabilities 108,486 11,979
Net assets 108,486 11,979
Capital and reserves
Called-up share capital 7 1 1
Fair value reserve 52,501 0
Profit and loss account 55,984 11,978
Total shareholder's funds 108,486 11,979

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Grey Butterfly Properties Limited (registered number: 14329366) were approved and authorised for issue by the Director on 08 May 2025. They were signed on its behalf by:

Mr P Chohan
Director
GREY BUTTERFLY PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
GREY BUTTERFLY PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Grey Butterfly Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 60 Craigweil Avenue, Radlett, WD7 7EY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from rents receivable is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Year ended
30.09.2024
Period from
01.09.2022 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 October 2023 829,998
Fair value movement 70,002
As at 30 September 2024 900,000

Valuation

The Director has assessed the value of the properties and they are held at fair market value at 30 September 2024.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

30.09.2024 30.09.2023
£ £
Historic cost 829,998 829,998

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 October 2023 2 2
At 30 September 2024 2 2
Carrying value at 30 September 2024 2 2
Carrying value at 30 September 2023 2 2

5. Debtors

30.09.2024 30.09.2023
£ £
Trade debtors 14,400 0
Other debtors 11,940 0
26,340 0

6. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Trade creditors 3,913 0
Amounts owed to Group undertakings 834,221 829,999
Taxation and social security 7,005 2,810
Other creditors 1,975 14,112
847,114 846,921

7. Called-up share capital

30.09.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1