Registration number: 03659402

Gray's Inn Road Properties Limited

Contents
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Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Gray's Inn Road Properties Limited

Company Information
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Director

Mr J N Krieger

Company secretary

Mrs G S Krieger

Registered office

Abbey House 342 Regents Park Road N3 2LJ

Accountants

Brooks Green Chartered AccountantsAbbey House 342 Regents Park Road London N3 2LJ

Gray's Inn Road Properties Limited

(Registration number: 03659402)
Balance Sheet as at 31 December 2024
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	Note	2024 £		2023 £
Fixed assets
Tangible assets	3		1,248,991		1,249,323
Current assets
Stocks	4	41,700		43,200
Debtors	5	11,621		1,148,641
Cash at bank and in hand		10		2,072
		53,331		1,193,913
Creditors: Amounts falling due within one year	6	(159,234)		(1,137,009)
Net current (liabilities)/assets			(105,903)		56,904
Total assets less current liabilities			1,143,088		1,306,227
Creditors: Amounts falling due after more than one year	6		(1,016,891)		-
Net assets			126,197		1,306,227
Capital and reserves
Called up share capital	7	10,000		10,000
Other reserves		2,919,771		4,091,972
Retained earnings		(2,803,574)		(2,795,745)
Shareholders' funds			126,197		1,306,227

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 September 2025
 

Gray's Inn Road Properties Limited

(Registration number: 03659402)
Balance Sheet as at 31 December 2024
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......................................... Mr J N Krieger Director

Gray's Inn Road Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and Buildings	Not depreciated
Furniture, Fittings and Equipment	15% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Gray's Inn Road Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Gray's Inn Road Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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2	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

3	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	1,247,104	17,867	1,264,971
At 31 December 2024	1,247,104	17,867	1,264,971
Depreciation
At 1 January 2024	-	15,648	15,648
Charge for the year	-	332	332
At 31 December 2024	-	15,980	15,980
Carrying amount
At 31 December 2024	1,247,104	1,887	1,248,991
At 31 December 2023	1,247,104	2,219	1,249,323

Included within the net book value of land and buildings above is £1,247,104 (2023 - £1,247,104) in respect of long leasehold land and buildings.
 

4

Stocks

	2024 £	2023 £
Finished goods and goods for resale	41,700	43,200

5

Debtors

Current	2024 £	2023 £
Trade debtors	10,201	15,652
Prepayments	1,036	1,240
Other debtors	384	1,131,749
	11,621	1,148,641

Gray's Inn Road Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	75,000	1,124,678
Trade creditors		3,000	3,000
Taxation and social security		400	200
Accruals and deferred income		7,130	2,350
Other creditors		73,704	6,781
		159,234	1,137,009

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	1,016,891	-

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	10,000	10,000	10,000	10,000

8

Reserves

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Other borrowings	1,016,891	-

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	75,000	1,124,678