Company registration number 15158233 (England and Wales)
GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED
COMPANY INFORMATION
Directors
Mr J L Gray
Mrs F Gray
Company number
15158233
Registered office
Unit 131 Hartlebury Trading Estate
Hartlebury
Kidderminster
Worcestershire
DY10 4JB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Natwest Bank Plc
11 Western Boulevard
Bede Island
Leicester
LE2 7EJ
GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED FOR THE PERIOD ENDED 31 DECEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gray Commercial Property Portfolio Limited for the period ended 31 December 2024 which comprise, the balance sheet and the related notes 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 https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Gray Commercial Property Portfolio Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gray Commercial Property Portfolio Limited and state those matters that we have agreed to state to the b oard of d irectors of Gray Commercial Property Portfolio 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 Gray Commercial Property Portfolio Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Gray Commercial Property Portfolio Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gray Commercial Property Portfolio Limited. You consider that Gray Commercial Property Portfolio Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Gray Commercial Property Portfolio 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 f inancial statements.

Ormerod Rutter Limited
20 June 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
26,803
Investment property
4
2,313,017
2,339,820
Current assets
Debtors
5
37,938
Cash at bank and in hand
8,936
46,874
Creditors: amounts falling due within one year
6
(1,701,747)
Net current liabilities
(1,654,873)
Total assets less current liabilities
684,947
Creditors: amounts falling due after more than one year
7
(646,096)
Provisions for liabilities
(7,485)
Net assets
31,366
Capital and reserves
Called up share capital
9
100
Profit and loss reserves
31,266
Total equity
31,366

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 20 June 2025 and are signed on its behalf by:
Mr J L Gray
Director
Company registration number 15158233 (England and Wales)
GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Gray Commercial Property Portfolio Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 131 Hartlebury Trading Estate, Hartlebury, Kidderminster, Worcestershire, United Kingdom, DY10 4JB.

1.1
Accounting convention

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 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 adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents pro vided in the normal course of business, and is shown net of VAT.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on cost
Fixtures and fittings
25% on cost
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in other reserves.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
2
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 23 September 2023
-
0
-
0
-
0
Additions
5,000
23,231
28,231
At 31 December 2024
5,000
23,231
28,231
Depreciation and impairment
At 23 September 2023
-
0
-
0
-
0
Depreciation charged in the period
625
803
1,428
At 31 December 2024
625
803
1,428
Carrying amount
At 31 December 2024
4,375
22,428
26,803
GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
4
Investment property
2024
£
Fair value
At 23 September 2023
-
0
Additions
2,313,017
At 31 December 2024
2,313,017
5
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
3,500
Other debtors
34,438
37,938
6
Creditors: amounts falling due within one year
2024
£
Bank loans
31,249
Trade creditors
85,131
Amounts owed to group undertakings
1,583,927
Other creditors
1,440
1,701,747
7
Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
646,096
8
Secured debts
The following secured debts are included within creditors:
2024
£
Bank loans
677,345
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
GRAY COMMERCIAL PROPERTY PORTFOLIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
9
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary A of £1 each
100
100

100 Ordinary A shares of £1 were allotted and fully paid for cash at par during the period.

10
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11
Control

Ultimate parent company

The ultimate parent company is Grays Company Holdings Limited, a company registered in England and Wales.

Ultimate controlling party

The ultimate controlling party is Mr J L Gray and Mrs F Gray, by virtue of their controlling interest in the ultimate parent company.

12
Comparatives

This is the company’s first period of trade and therefore there are no comparatives.

2024-12-31 2023-09-23 false false false 20 June 2025 CCH Software CCH Accounts Production 2025.100 No description of principal activity Mr J L Gray Mrs F Gray 15158233 2023-09-23 2024-12-31 15158233 bus:Director1 2023-09-23 2024-12-31 15158233 bus:Director2 2023-09-23 2024-12-31 15158233 bus:RegisteredOffice 2023-09-23 2024-12-31 15158233 bus:Agent1 2023-09-23 2024-12-31 15158233 2024-12-31 15158233 core:PlantMachinery 2024-12-31 15158233 core:FurnitureFittings 2024-12-31 15158233 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 15158233 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 15158233 core:CurrentFinancialInstruments 2024-12-31 15158233 core:ShareCapital 2024-12-31 15158233 core:RetainedEarningsAccumulatedLosses 2024-12-31 15158233 core:ShareCapitalOrdinaryShareClass1 2024-12-31 15158233 core:PlantMachinery 2023-09-23 2024-12-31 15158233 core:FurnitureFittings 2023-09-23 2024-12-31 15158233 core:PlantMachinery 2023-09-22 15158233 core:FurnitureFittings 2023-09-22 15158233 2023-09-22 15158233 core:WithinOneYear 2024-12-31 15158233 core:Non-currentFinancialInstruments 2024-12-31 15158233 bus:OrdinaryShareClass1 2023-09-23 2024-12-31 15158233 bus:OrdinaryShareClass1 2024-12-31 15158233 bus:PrivateLimitedCompanyLtd 2023-09-23 2024-12-31 15158233 bus:FRS102 2023-09-23 2024-12-31 15158233 bus:AuditExemptWithAccountantsReport 2023-09-23 2024-12-31 15158233 bus:SmallCompaniesRegimeForAccounts 2023-09-23 2024-12-31 15158233 bus:FullAccounts 2023-09-23 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP