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Registration number: 05488291

Gray's Inn Realty Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Gray's Inn Realty Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Gray's Inn Realty Limited

Company Information

Directors

R Steinhouse

D I Pither

J Jackson-Shilling

M Hayman

Company secretary

J Jackson-Shilling

Registered office

Leavesden Park
Suite 1
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

Accountants

Landmark Accountants Limited Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

 

Gray's Inn Realty Limited

(Registration number: 05488291)
Balance Sheet as at 31 October 2024

Note

2024

2023

   

£

£

£

£

Current assets

   

 

Debtors

4

 

816,840

 

1,471,236

Cash at bank and in hand

   

10,440

 

69,499

   

827,280

 

1,540,735

Creditors: Amounts falling due within one year

5

 

(872,342)

 

(1,585,797)

Net liabilities

   

(45,062)

 

(45,062)

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

(45,162)

 

(45,162)

 

Total equity

   

(45,062)

 

(45,062)

For the financial year ending 31 October 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 and delivered in accordance with the special 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 21 May 2025 and signed on its behalf by:
 

.........................................
M Hayman
Director

 

Gray's Inn Realty Limited

Notes to the Financial Statements for the Year Ended 31 October 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:
Leavesden Park
Suite 1
5 Hercules Way
Watford
Hertfordshire
WD25 7GS
United Kingdom

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.

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

Going concern

The financial statements are prepared on a going concern basis. Although the company is showing a negative balance sheet, the parent company will provide any support if needed.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for agency fees and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and 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.

 

Gray's Inn Realty Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises tax together with the value of tax losses surrendered or relieved as appropriate, charged on a £1 for £1 basis. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Gray's Inn Realty Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

4

Debtors

Note

2024
£

2023
£

Trade debtors

 

48,616

39,504

Amounts owed by group undertakings

6

12,472

677,743

Other debtors

 

755,752

753,989

 

816,840

1,471,236

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

44,665

35,377

Amounts owed to group undertakings

6

826,780

1,488,211

Accruals and deferred income

 

897

-

Other creditors

 

-

62,209

 

872,342

1,585,797

6

Related party transactions

The company has taken advantage of the exemption under FRS 102 Section 1AC.35 from disclosing transactions with other group companies wholly owned within the group.