Registration number:
Gray's Inn Developments Limited
for the Year Ended 31 October 2024
Gray's Inn Developments Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Gray's Inn Developments Limited
Company Information
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Directors |
R Steinhouse M Hayman J Jackson-Shilling D I Pither |
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Company secretary |
J Jackson-Shilling |
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Registered office |
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Accountants |
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Gray's Inn Developments Limited
(Registration number: 07434587)
Balance Sheet as at 31 October 2024
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Note |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Current assets |
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Stocks |
- |
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Debtors |
- |
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- |
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Creditors: Amounts falling due within one year |
- |
( |
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Net liabilities |
- |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
- |
( |
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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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Gray's Inn Developments Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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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 £.
The financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing down the company's assets to net realisable value.
Going concern
The directors intend to dissolve the company within 12 months of the year end. The directors therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. The financial statements have been prepared on a basis other than that of the going concern basis.
Tax
The tax expense for the period comprises current tax. 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.
Gray's Inn Developments Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
Stocks
Stocks of land are acquired and held with the intention of development and sale and are valued at the lower of cost and net realisable value. Professional fees and taxes associated with the purchase of stock, are expensed at the time of purchase.
Net realisable value is based on estimated selling price less further costs to completion and disposal.
At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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
Recognition and measurement
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Stocks |
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2024 |
2023 |
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Land stock |
- |
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Debtors |
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2024 |
2023 |
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Other debtors |
- |
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Creditors |
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2024 |
2023 |
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Due within one year |
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Other creditors |
- |
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