GRACEFIELD DEVELOPMENTS LIMITED


Directors	Kewal Krishan
	Parkash Krishan


Company Secretary	Kewal Krishan


Registered Address	7 Bell Yard
	London
	WC2A 2JR


Registered Number	05629900 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Creditors amounts falling due within one year	3	(886,998)		(292,587)
Net current assets (liabilities)			(886,998)		(292,587)
Total assets less current liabilities			(886,998)		(292,587)
Net assets			(886,998)		(292,587)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(887,098)		(292,687)
Shareholders' funds			(886,998)		(292,587)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 30 September 2025, and are signed on its behalf by:

Kewal Krishan
Director
Registered Company No. 05629900

GRACEFIELD DEVELOPMENTS LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	Gracefield Developments 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 (£).

	Statement of compliance
	The 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.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention.

	Going concern
	At the year end, the company had net liabilities of £886,998 (2023: £292,587); however, the directors have confirmed that they will continue to support the company for the foreseeable future. As such, the company continues to adopt the going concern basis in preparing its financial statements.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Current and deferred tax assets and liabilities are not discounted.

	Financial instruments
	Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised immediately in profit or loss.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	0		0

3.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	-	20,115
Other creditors	886,998	272,472
Total	886,998	292,587


	Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.