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REGISTERED NUMBER: 05047975 (England and Wales)















Financial Statements for the Year Ended 29 February 2024

for

Greystoke Land Limited

Greystoke Land Limited (Registered number: 05047975)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Greystoke Land Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: N J Aldridge
DA Secretarial Limited





SECRETARY: DA Secretarial Limited





REGISTERED OFFICE: 63 Bermondsey Street
London
SE1 3XF





REGISTERED NUMBER: 05047975 (England and Wales)





AUDITORS: Gilberts Chartered Accountants
Pendragon House
65 London Road
St Albans
Hertfordshire
AL1 1LJ

Greystoke Land Limited (Registered number: 05047975)

Balance Sheet
29 February 2024

29.2.24 28.2.23
as restated
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 7,096 11,530
Investments 5 1,165,339 101
1,172,435 11,631

CURRENT ASSETS
Stocks and work in progress 2,932,294 2,820,686
Debtors 6 507,312 410,211
Cash at bank 2,311,934 11,517,834
5,751,540 14,748,731
CREDITORS
Amounts falling due within one year 7 5,674,886 13,305,743
NET CURRENT ASSETS 76,654 1,442,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,249,089

1,454,619

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,249,087 1,454,617
1,249,089 1,454,619

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:





N J Aldridge - Director


Greystoke Land Limited (Registered number: 05047975)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Greystoke Land Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared is sterling, which is the functional currency of the company. Monetary amount in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

A letter of support for the company has been obtained from the parent company, Oxford Law Holdings Limited, which is underpinned by a further letter of support from Stancroft Trust Limited, a shareholder of Oxford Law Holdings Limited. The letters of support are not legally binding, however the directors expect all funding requirements to be met for at least 12 months from the date of approval of the financial statements.

Turnover
Turnover comprises the fair value of consideration received or receivable for goods and services provided in the normal course of business. Turnover is categorised into the following streams:

Promotional Agreements: Income derived from promotional agreements is recognised when the performance obligations under the agreement are satisfied. This occurs when the agreed services have been delivered or when the milestone requirements stipulated in the agreement have been met.

Option Agreements: Revenue from option agreements is recognised at the point in time when the company exercises the option, fulfilling its contractual obligations as outlined in the agreement.

Land Sales: Turnover from land sales is recognised upon the transfer of significant risks and rewards of ownership, which typically coincides with the legal completion of the sale transaction.

Revenue is measured net of sale/value added tax, returns, rebates and trade discounts. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company’s activities.

Greystoke Land Limited (Registered number: 05047975)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of deprecation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

At each reporting period end date, the group reviews the carrying amount of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of the fair value less costs to sell and the value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimate of the future cash flows have not been adjusted.

Investments in subsidiaries
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses.

Stocks and work in progress
Development land and property is valued at the lower of cost and net realisable value. Regular reviews are carried out to identify any impairment in the value of the land and property by comparing the total estimated selling price less estimated costs to sell against the carrying value of the land and property plus estimated costs to complete. Provision is made for any irrecoverable amounts. Any increase in the value of land and property previously written down to net realisable value is recognised immediately.

Work in progress relating to planning projects is stated at the lower of cost and net realisable value. Net realisable value represents the estimated selling price less estimated future costs weighted for the probability of planning success. At each reporting date, an assessment is made for impairment. Impairments are made on an aggregate basis across a portfolio of sites as investment decisions are made on the same basis. Any excess of the carrying amount of work in progress across the portfolio over net realisable value of the portfolio is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

At the point in time that the risk profile of a project increases such that it is no longer economical to continue investing as part of the wider portfolio, the project is considered impaired and is fully written down.

Greystoke Land Limited (Registered number: 05047975)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Greystoke Land Limited (Registered number: 05047975)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 21,790
Additions 794
At 29 February 2024 22,584
DEPRECIATION
At 1 March 2023 10,260
Charge for year 5,228
At 29 February 2024 15,488
NET BOOK VALUE
At 29 February 2024 7,096
At 28 February 2023 11,530

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023 101
Additions 1,165,238
At 29 February 2024 1,165,339
NET BOOK VALUE
At 29 February 2024 1,165,339
At 28 February 2023 101

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
as restated
£    £   
Trade debtors 8,729 33,335
Amounts owed by group undertakings 376,626 159,883
Other debtors 121,957 216,993
507,312 410,211

Greystoke Land Limited (Registered number: 05047975)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
as restated
£    £   
Trade creditors 216,428 285,157
Amounts owed to group undertakings 5,136,365 5,150,699
Taxation and social security 266,853 7,851,775
Other creditors 55,240 18,112
5,674,886 13,305,743

8. LEASING AGREEMENTS
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £181,917 (2023: £40,417).

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Luke Parker ACA (Senior Statutory Auditor)
for and on behalf of Gilberts Chartered Accountants

10. RELATED PARTY DISCLOSURES

At the year end, the amount owed to the company by Greystoke CB Limited, a subsidiary, was £274,450 (2023 - £140,350).

The company has taken advantage of the exemptions for qualifying subsidiary undertakings not to include details of transactions with other group companies.

During the year, the company entered into transactions totalling £120,000 with Katharine Aldridge Consulting Limited. Katharine is the wife of one of the directors of Greystoke Land Limited.

11. PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

The immediate parent company is Oxford Law Holdings Limited, registered at 63 Bermondsey Street, London, SE1 3XF.As at the year end, Greystoke Land Limited has no ultimate controlling party. Post year end, the shareholding of Stancroft Trust Limited increased to above 50% in Oxford Law Holdings Limited.In the opinion of the directors, the ultimate controlling party of Greystoke Land Limited is the Glengarry Trust, a trust registered in Canada.