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GREYS PROPERTY LTD.

Unaudited Financial Statements

for the Year Ended 30 November 2024






GREYS PROPERTY LTD. (REGISTERED NUMBER: 12055637)

Contents of the Financial Statements
for the Year Ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


GREYS PROPERTY LTD.

Company Information
for the Year Ended 30 November 2024







DIRECTORS: C A Bennett
K L Johnson



REGISTERED OFFICE: 4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



REGISTERED NUMBER: 12055637 (England and Wales)



ACCOUNTANT: Botros & Co
4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



BANKERS: Lloyds Bank Plc
1 Westgate
Huddersfield
West Yorkshire
HD1 2DN

GREYS PROPERTY LTD. (REGISTERED NUMBER: 12055637)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 942,111 955,502

CURRENT ASSETS
Debtors 5 11,500 9,000
Cash at bank and in hand 3,870 3,010
15,370 12,010
CREDITORS
Amounts falling due within one year 6 548,610 541,696
NET CURRENT LIABILITIES (533,240 ) (529,686 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

408,871

425,816

CREDITORS
Amounts falling due after more than one
year

7

348,387

374,454
NET ASSETS 60,484 51,362

CAPITAL AND RESERVES
Called up share capital 9 400 400
Retained earnings 10 60,084 50,962
SHAREHOLDERS' FUNDS 60,484 51,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 8 January 2025 and were signed on its behalf by:




C A Bennett - Director


GREYS PROPERTY LTD. (REGISTERED NUMBER: 12055637)

Notes to the Financial Statements
for the Year Ended 30 November 2024


1. STATUTORY INFORMATION

Greys Property Ltd. 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

GREYS PROPERTY LTD. (REGISTERED NUMBER: 12055637)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 December 2023
and 30 November 2024 661,710 115,248 192,726 800 970,484
DEPRECIATION
At 1 December 2023 - - 14,183 799 14,982
Charge for year - - 13,391 - 13,391
At 30 November 2024 - - 27,574 799 28,373
NET BOOK VALUE
At 30 November 2024 661,710 115,248 165,152 1 942,111
At 30 November 2023 661,710 115,248 178,543 1 955,502

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 11,500 9,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts (see note 8) 44,685 44,685
Greys Artstone Ltd 441,564 441,564
VAT 3,673 3,637
Directors' loan accounts 53,660 44,317
Accrued expenses 5,028 7,493
548,610 541,696

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans (see note 8) 348,387 374,454

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 341,238 357,288

8. LOANS

An analysis of the maturity of loans is given below:

30.11.24 30.11.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 44,685 44,685

GREYS PROPERTY LTD. (REGISTERED NUMBER: 12055637)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


8. LOANS - continued
30.11.24 30.11.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 7,149 17,166

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 341,238 357,288

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
200 Ordinary Share A £1 200 200
200 Ordinary Share B £1 200 200
400 400

10. RESERVES
Retained
earnings
£   

At 1 December 2023 50,962
Profit for the year 9,122
At 30 November 2024 60,084