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Registered number: 00371826
Greatrex Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Deans
Gibson House Hurricane Close
Stafford
Staffordshire
ST16 1GZ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00371826
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,290 6,224
Investment Properties 5 4,751,828 4,639,513
Investments 6 110,000 110,000
4,867,118 4,755,737
CURRENT ASSETS
Debtors 7 62,591 81,954
Cash at bank and in hand 1,024,488 938,943
1,087,079 1,020,897
Creditors: Amounts Falling Due Within One Year 8 (148,361 ) (142,248 )
NET CURRENT ASSETS (LIABILITIES) 938,718 878,649
TOTAL ASSETS LESS CURRENT LIABILITIES 5,805,836 5,634,386
PROVISIONS FOR LIABILITIES
Deferred Taxation (26,171 ) (10,361 )
NET ASSETS 5,779,665 5,624,025
CAPITAL AND RESERVES
Called up share capital 9 3,508 3,508
Revaluation reserve 704,404 607,899
Capital redemption reserve 492 492
Profit and Loss Account 5,071,261 5,012,126
SHAREHOLDERS' FUNDS 5,779,665 5,624,025
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A B Greatrex
Director
21 July 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Greatrex Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of section 1a "Small Entities" and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policies adopted for the recognition of turnover are as follows:
Rental income
Rental income from operating leases, net of any incentives given to the lessees, is recognised on a straight line basis over the lease term.
Other operating income
Other operating income represents management charges levied on lessees and are recognised in the period in which the services are provided.
Interest receivable
Interest income is recognised using the effective interest method as the company's right to receive payment is established.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributeable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 15% Reducing balance
Computer Equipment 20% Straight line
2.4. Investment Properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
The investment properties are shown at fair value based on a valuation by the directors.
2.5. Investments
2.6. 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 assesments in periods different from those in which they aare 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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.
2.7. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.8. Fixed asset investments
Fixed assets investments relate to works of art. The investment is measured at cost less impairment.
2.9. Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an agreement constitutes a finance transaction it is measured at present value.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Tangible Assets
Fixtures & Fittings
£
Cost or Valuation
As at 1 April 2024 22,678
As at 31 March 2025 22,678
Depreciation
As at 1 April 2024 16,454
Provided during the period 934
As at 31 March 2025 17,388
Net Book Value
As at 31 March 2025 5,290
As at 1 April 2024 6,224
5. Investment Property
2025
£
Fair Value
As at 1 April 2024 4,639,513
Revaluations 112,315
As at 31 March 2025 4,751,828
The historical cost of the investment property as at 31 March 2025 was £4,021,253 (2024 - £4,020,598)
Page 4
Page 5
6. Investments
Listed
£
Cost
As at 1 April 2024 110,000
As at 31 March 2025 110,000
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 110,000
As at 1 April 2024 110,000
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 49,829 66,875
Prepayments and accrued income 7,999 9,514
Other debtors 4,763 5,565
62,591 81,954
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 4,919 13,647
Corporation tax 51,407 30,431
Other taxes and social security 504 995
VAT 14,233 16,122
Other creditors 17,870 16,275
Accruals and deferred income 59,428 64,778
148,361 142,248
9. Share Capital
2025 2024
Allotted, called up and fully paid £ £
3,508 Ordinary Shares of £ 1.00 each 3,508 3,508
Page 5