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REGISTERED NUMBER: 04574494 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

GRAYLEAS LIMITED

GRAYLEAS LIMITED (REGISTERED NUMBER: 04574494)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

GRAYLEAS LIMITED

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | D C Moss

| Mrs B E T Moss

| SECRETARY: | D C Moss

| REGISTERED OFFICE: | Office Suite 1

| Haslemere House

| Lower Street

| Haslemere

| Surrey

| GU27 2PE

| REGISTERED NUMBER: | 04574494 (England and Wales)

GRAYLEAS LIMITED (REGISTERED NUMBER: 04574494)

Balance Sheet

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,744 |  | - |  |

Investment property | 5 | 1,720,000 |  | 1,442,434 |  |

1,721,744 |  | 1,442,434 |  |

CURRENT ASSETS

Debtors | 6 | 45,821 |  | 45,650 |  |

Cash at bank | 6,508 |  | 7,610 |  |

52,329 |  | 53,260 |  |

CREDITORS

Amounts falling due within one year | 7 | 8,683 |  | 20,580 |  |

NET CURRENT ASSETS | 43,646 |  | 32,680 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,765,390 |  | 1,475,114 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (841,802 | ) | (841,493 | ) |

PROVISIONS FOR LIABILITIES | (65,189 | ) | (1,377 | ) |

NET ASSETS | 858,399 |  | 632,244 |  |

CAPITAL AND RESERVES

Called up share capital | 2 |  | 2 |  |

Retained earnings | 858,397 |  | 632,242 |  |

SHAREHOLDERS' FUNDS | 858,399 |  | 632,244 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

GRAYLEAS LIMITED (REGISTERED NUMBER: 04574494)

Balance Sheet - continued

31 December 2024

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 11 September 2025 and were signed on its behalf by:

D C Moss - Director

GRAYLEAS LIMITED (REGISTERED NUMBER: 04574494)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Grayleas Limited 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

| Significant judgements and estimates

| The following are the critical judgements and key sources of estimation uncertainty that the directors made in the process of applying the companies accounting policies and that have the most significant effect on the amounts recognised in the financial statements:

| Fair value of Investment Properties

| Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the Profit and Loss. The directors assess the fair value of the investment properties based on recent market values. In determining the fair value on this basis, the valuation remains sensitive to fluctuations in the property market.

| Turnover

| Turnover represents rents receivable during the year. Where payments are received in advance of the rental period, the amounts are recorded as deferred income and included as part of creditors due within one year.

| 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 | - | 10% on cost

| Computer equipment | - | 33% on cost

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Financial instruments

| The company only has financial assets and financial liabilities of a kind that qualify as basic

| financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method

GRAYLEAS LIMITED (REGISTERED NUMBER: 04574494)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Creditors

| Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

| Debtors

| Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

3. | EMPLOYEES AND DIRECTORS

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

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024 | 15,635 |  | 2,777 |  | 18,412 |  |

| Additions | 1,938 |  | - |  | 1,938 |  |

| At 31 December 2024 | 17,573 |  | 2,777 |  | 20,350 |  |

| DEPRECIATION

| At 1 January 2024 | 15,635 |  | 2,777 |  | 18,412 |  |

| Charge for year | 194 |  | - |  | 194 |  |

| At 31 December 2024 | 15,829 |  | 2,777 |  | 18,606 |  |

| NET BOOK VALUE

| At 31 December 2024 | 1,744 |  | - |  | 1,744 |  |

| At 31 December 2023 | - |  | - |  | - |  |

GRAYLEAS LIMITED (REGISTERED NUMBER: 04574494)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 January 2024 | 1,442,434 |  |

| Disposals | (67,346 | ) |

| Revaluations | 344,912 |  |

| At 31 December 2024 | 1,720,000 |  |

| NET BOOK VALUE

| At 31 December 2024 | 1,720,000 |  |

| At 31 December 2023 | 1,442,434 |  |

| Fair value at 31 December 2024 is represented by:

£ |

| Valuation in 2005 | 142,352 |  |

| Valuation in 2007 | (35,931 | ) |

| Valuation in 2008 | (132,458 | ) |

| Valuation in 2014 | 105,000 |  |

| Valuation in 2015 | 35,340 |  |

| Valuation in 2016 | 36,400 |  |

| Valuation in 2018 | 37,492 |  |

| Valuation in 2021 | 128,724 |  |

| Valuation in 2023 | 26,478 |  |

| Valuation in 2024 | 399,565 |  |

| Cost | 977,038 |  |

1,720,000 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 780 |  | 450 |  |

| Amounts owed by participating interests | 44,223 |  | 44,223 |  |

| Other debtors | 818 |  | 977 |  |

45,821 |  | 45,650 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Deposits held | 6,830 |  | 6,686 |  |

| Director's current account | 251 |  | 12,466 |  |

| Accrued expenses | 1,602 |  | 1,428 |  |

8,683 |  | 20,580 |  |

GRAYLEAS LIMITED (REGISTERED NUMBER: 04574494)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans | 841,802 |  | 841,493 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Bank loans | 841,802 |  | 841,493 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Bank loans | 841,802 |  | 841,493 |  |

| The mortgages are secured on the company's freehold properties and are repayable in full between 2029 and 2032 with interest payable monthly at rates varying between 5.74% and 6.44% per annum (2023:4.32% and 7% per annum).

10. | RELATED PARTY DISCLOSURES

| At the Balance Sheet date £44,233 was owed to Grayleas Limited by Colemere Limited (2023: £44,233), a company under common control.