REGISTERED NUMBER: 03838102 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

GREATFATE LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

N Schwartz

SECRETARY:

Mrs R Schwartz

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

03838102 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

5

29,962

35,269

Investment property

6

3,025,000

3,025,000

3,054,962

3,060,269

CURRENT ASSETS

Debtors

7

1,039,473

706,576

Cash at bank

22,932

15,495

1,062,405

722,071

CREDITORS

Amounts falling due within one year

8

(490,553

)

(219,670

)

NET CURRENT ASSETS

571,852

502,401

TOTAL ASSETS LESS CURRENT LIABILITIES

3,626,814

3,562,670

CREDITORS

Amounts falling due after more than one year

9

(1,500,164

)

(1,405,048

)

PROVISIONS FOR LIABILITIES

(57,000

)

(57,000

)

NET ASSETS

2,069,650

2,100,622

CAPITAL AND RESERVES

Called up share capital

12

1

1

Revaluation reserve

13

1,538,810

1,538,810

Fair value reserve

13

300,000

300,000

Retained earnings

13

230,839

261,811

SHAREHOLDERS' FUNDS

2,069,650

2,100,622

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

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

The director acknowledges his 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 and authorized for issue by the director and authorised for issue on 19 September 2025 and were signed by:

N Schwartz - Director

1.	STATUTORY INFORMATION

Greatfate 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 October 2023

and 30 September 2024

114,957

29,298

1,620

145,875

DEPRECIATION

At 1 October 2023

83,633

25,439

1,534

110,606

Charge for year

4,699

579

29

5,307

At 30 September 2024

88,332

26,018

1,563

115,913

NET BOOK VALUE

At 30 September 2024

26,625

3,280

57

29,962

At 30 September 2023

31,324

3,859

86

35,269

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

and 30 September 2024

3,025,000

NET BOOK VALUE

At 30 September 2024

3,025,000

At 30 September 2023

3,025,000

Fair value at 30 September 2024 is represented by:

£

Valuation in 2017

1,538,810

Valuation in 2021

300,000

Cost

1,186,190

3,025,000

The fair value of investment property was assessed to be unchanged by the director. The fair value was determined using open market valuation method. The director does not have a formal qualification but considerable experience in property market to ascertain the fair value with sufficient level of confidence.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Other debtors

1,039,473

706,576

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Taxation and social security

(357

)

6,570

Other creditors

490,910

213,100

490,553

219,670

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans (see note 10)

1,468,682

1,368,011

Other creditors

31,482

37,037

1,500,164

1,405,048

30.9.24

30.9.23

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loan

999,351

778,642

Bank loans

270,906

274,927

Bank Loan

81,860

84,712

1,352,117

1,138,281

Repayable by instalments

Bank loan

116,565

131,327

Bank loans

-

98,403

Other loans more 5yrs instal

31,482

37,037

148,047

266,767

Other creditors include £31,482 received under Bounceback Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

10.

LOANS

An analysis of the maturity of loans is given below:

30.9.24

30.9.23

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loan

999,351

778,642

Bank loans

270,906

274,927

Bank Loan

81,860

84,712

1,352,117

1,138,281

Repayable by instalments

Bank loan

116,565

131,327

Bank loans

-

98,403

Other loans more 5yrs instal

31,482

37,037

148,047

266,767

11.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.24

30.9.23

£

£

Bank loans

1,468,682

1,368,011

Under the bank loan, £31,482 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

30.9.23

value:

£

£

1

Ordinary

£1

1

1

13.

RESERVES

Fair

Retained

Revaluation

value

earnings

reserve

reserve

Totals

£

£

£

£

At 1 October 2023

261,811

1,538,810

300,000

2,100,621

Deficit for the year

(30,972

)

(30,972

)

At 30 September 2024

230,839

1,538,810

300,000

2,069,649

14.	RELATED PARTY DISCLOSURES

Related Party diclosures

Other Debtors (Note 9) relates to amounts due from companies connected to the director and his family members. The loans are interest free and repayable on demand.

Other Creditors (Note 10) relates to amounts due to companies connected to the director and his family members. The loans are interest free and payable on demand.

15.	ULTIMATE CONTROLLING PARTY

The controlling party is N Schwartz.