Greystead Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00732789

Greystead Properties Limited

Filleted Financial Statements

31 March 2025

Greystead Properties Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Greystead Properties Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6	27,889,500	24,371,293
Investments	7	118,550	118,550
		-------------	-------------
		28,008,050	24,489,843

Current assets

Debtors	8	20,906	23,202
Cash at bank and in hand		679,711	572,402
		---------	---------
		700,617	595,604

Creditors: amounts falling due within one year	9	181,944		139,783
		---------		---------
Net current assets			518,673		455,821
			-------------		-------------
Total assets less current liabilities			28,526,723		24,945,664

Provisions

Taxation including deferred tax	10	6,656,281	5,776,729
		-------------	-------------
Net assets		21,870,442	19,168,935
		-------------	-------------

Capital and reserves

Called up share capital	12	25,000	25,000
Profit and loss account	13	21,845,442	19,143,935
		-------------	-------------
Shareholders funds		21,870,442	19,168,935
		-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 10 September 2025 , and are signed on behalf of the board by:

A R Salem	J R M Krantz
Director	Director

Company registration number: 00732789

Greystead Properties Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Brickworks, Church Road, Harold Wood, Romford, RM3 0JA, Essex.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents rental income receivable during the year.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property, which is property held to earn rentals, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 6 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	148,993	119,822

Deferred tax:

Origination and reversal of timing differences	879,552	–
	------------	---------
Tax on profit	1,028,545	119,822
	------------	---------

6. Tangible assets

	Investment Freehold property
	£
Cost or valuation
At 1 April 2024	24,371,293
Revaluations	3,518,207
	-------------
At 31 March 2025	27,889,500
	-------------
Depreciation
At 1 April 2024 and 31 March 2025	–
	-------------
Carrying amount
At 31 March 2025	27,889,500
	-------------
At 31 March 2024	24,371,293
	-------------

Investment properties were valued at fair value by the directors of the company at the balance date with the assistance of property consultants. Freehold investment properties are not depreciated and therefore, there is no difference between the depreciation based on cost or the revalued amount.

7. Investments

	Shares in related companies
	£
Cost
At 1 April 2024 and 31 March 2025	118,550
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 31 March 2025	118,550
	---------
At 31 March 2024	118,550
	---------

The total investment in Eastern Suburbs Estates Limited is £118,550 and is for 3,175 ordinary shares of £1 each, which represents a holding of 31.75%.

8. Debtors

	2025	2024
	£	£
Trade debtors	10,546	9,882
Prepayments and accrued income	10,360	13,320
	--------	--------
	20,906	23,202
	--------	--------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	24,875	9,965
Accruals and deferred income	8,076	9,996
Corporation tax	148,993	119,822
	---------	---------
	181,944	139,783
	---------	---------

10. Provisions

	Deferred tax (note 11)
	£
At 1 April 2024	5,776,729
Movement	879,552
	------------
At 31 March 2025	6,656,281
	------------

11. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 10)	6,656,281	5,776,729
	------------	------------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Fair value adjustment of investment property	6,656,281	5,776,729
	------------	------------

12. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	25,000	25,000	25,000	25,000
	--------	--------	--------	--------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	25,000	25,000	25,000	25,000
	--------	--------	--------	--------

13. Reserves

Profit and loss account - This reserve includes both distributable and non-distributable reserves as follows;

	2025	2024
	£	£
Distributable	1,085,510	1,022,658
Non-distributable	20,759,932	18,121,277
	-------------	-------------
Total	21,845,442	19,143,935
	-------------	-------------

14. Summary audit opinion

The auditor's report dated 12 September 2025 was unqualified .

The senior statutory auditor was S C Drain , for and on behalf of Edmund Carr LLP .

15. Related party transactions

During the year the company received dividend income of £15,875 (2024: £8,125) from a related undertaking.