| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Grays Thurrock Properties Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Grays Thurrock Properties Limited |
| Grays Thurrock Properties Limited (Registered number: 00296171) |
| 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 |
| Grays Thurrock Properties Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Grays Thurrock Properties Limited (Registered number: 00296171) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Capital reserve | 10 |
| Retained earnings | 10 | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| Grays Thurrock Properties Limited (Registered number: 00296171) |
| Balance Sheet - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Grays Thurrock Properties Limited (Registered number: 00296171) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Grays Thurrock Properties Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Property, plant and equipment are valued at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates to write off each asset over its estimated useful life: |
| Plant, equipment and motor vehicles | 20% -25% on reducing balance basis |
| Inventories |
| Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
| 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. |
| Income recognition |
| Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Grays Thurrock Properties Limited (Registered number: 00296171) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2024 |
| Disposals | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Other creditors |
| Others creditors are repayable after 5 years and not by instalments. |
| Grays Thurrock Properties Limited (Registered number: 00296171) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 8. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances | 3,447 | 4,132 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2024 |
| Provided during year | ( |
) |
| Balance at 31 December 2024 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 1,003 | 1,003 |
| 10. | RESERVES |
| Retained | Capital |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2024 | 36,438 |
| Deficit for the year | ( |
) | ( |
) |
| At 31 December 2024 | ( |
) | (1,331,871 | ) |
| 11. | CONTINGENT LIABILITIES |
| C Hoare & Co |
| The company is a guarantor for guarantees provided to C Hoare & Co. for a maximum of £6,975,000 dated 26.11.2021 in respect of the bank borrowings of F. C. Stark. The guarantees are supported by legal charges granted over the company's investment properties. |
| Sub-contract Breach Claim |
| The company has received a legal claim against it dated 10 November 2023 in respect of an alleged breach of contract amounting to damages of £918,480 and interest of £427,390. The directors are of the opinion that the claim has no validity and that the company will not be held liable. |
| 12. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| RJ & DE Billings Limited |
| Company in which AJ, CJ, RJ & SJ Billings are directors and shareholders. |
| Sales of construction services to the value of £46,240 (2023 - £31,151) were charged during the year. |
| Sale of plant and equipment to the value of £nil (2023 - £8,615) was charged during the year. |
| Grays Thurrock Properties Limited (Registered number: 00296171) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 13. | PARENT COMPANY |
| The parent company is F.C. Stark Limited. |