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REGISTERED NUMBER: 00482954 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

J G GRAY LIMITED

| J G GRAY LIMITED (REGISTERED NUMBER: 00482954) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| J G GRAY LIMITED |

COMPANY INFORMATION

for the year ended 31 March 2025

| DIRECTORS: | S.S. Reed

| F.M. Reed

| REGISTERED OFFICE: | One Eastwood

| Harry Weston Road

| Binley Business Park

| Coventry

| CV3 2UB

| REGISTERED NUMBER: | 00482954 (England and Wales)

| ACCOUNTANTS: | Dafferns LLP

| One Eastwood

| Harry Weston Road

| Binley Business Park

| Coventry

| CV3 2UB

| J G GRAY LIMITED (REGISTERED NUMBER: 00482954) |

BALANCE SHEET

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 2,951,970 |  | - |  |

CURRENT ASSETS

Stocks | 10,409 |  | 118,302 |  |

Debtors | 6 | 10,191 |  | 6,680 |  |

Cash at bank | 205,279 |  | 218,148 |  |

225,879 |  | 343,130 |  |

CREDITORS

Amounts falling due within one year | 7 | 13,704 |  | 14,829 |  |

NET CURRENT ASSETS | 212,175 |  | 328,301 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,164,145 |  | 328,301 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 711,019 |  | - |  |

NET ASSETS | 2,453,126 |  | 328,301 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 70,000 |  | 70,000 |  |

Non distributable reserve | 2,133,058 |  | - |  |

Retained earnings | 250,068 |  | 258,301 |  |

SHAREHOLDERS' FUNDS | 2,453,126 |  | 328,301 |  |

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

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.

| J G GRAY LIMITED (REGISTERED NUMBER: 00482954) |

BALANCE SHEET - continued

31 March 2025

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 by the Board of Directors and authorised for issue on 23 October 2025 and were signed on its behalf by:

S.S. Reed - Director

| J G GRAY LIMITED (REGISTERED NUMBER: 00482954) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 March 2025

1. | STATUTORY INFORMATION

| J G Gray 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 (£).

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 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

| Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

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

| Freehold land |  | - land not depreciated |  |

| Any gains and losses on the disposal of tangible fixed assets are recognised in the Income Statement.

| Freehold land is shown at fair value, with changes in fair value shown in the revaluation reserve. A market valuation was carried out by Matthew Anywl MRICS FAAV and Helena Tibbitts MRICS FAAV in April 2024.

| Stocks

| The stock of land held for development is valued at the lower of cost or net realisable value.

| Financial instruments

| Basics financial instruments in 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 in the Income Statement in other administrative expenses.

| 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.

| J G GRAY LIMITED (REGISTERED NUMBER: 00482954) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

3. | ACCOUNTING POLICIES - continued

| 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.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

5. | TANGIBLE FIXED ASSETS

| Freehold

| land

£ |

| COST OR VALUATION

| Additions | 107,893 |  |

| Revaluations | 2,844,077 |  |

| At 31 March 2025 | 2,951,970 |  |

| NET BOOK VALUE

| At 31 March 2025 | 2,951,970 |  |

| Included in cost or valuation of land and buildings is freehold land of £ 2,951,970 which is not depreciated.

| Cost or valuation at 31 March 2025 is represented by:

| Freehold

| land

£ |

| Valuation in 2025 | 2,844,077 |  |

| Cost | 107,893 |  |

2,951,970 |  |

| Freehold land are shown at fair value. A market valuation was carried out by Matthew Anywl MRICS FAAV and Helena Tibbitts MRICS FAAV in April 2024.

| During the year, the Company transferred land with a carrying value of £2,951,970 into a land pooling trust formed with other landowners to facilitate joint development. The Company retains a beneficial interest in the trust proportionate to its original contribution. The company is a partner along with the other landowners, which operates a trading business involved in farming. The land is used in the partnership's trading activities and is not classified as an investment.

| J G GRAY LIMITED (REGISTERED NUMBER: 00482954) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 5,608 |  | 3,585 |  |

| VAT | 4,583 |  | 3,095 |  |

10,191 |  | 6,680 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Accrued expenses | 13,704 |  | 14,829 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Option fee received in advance | 711,019 |  | - |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 70,000 | Ordinary | £1 | 70,000 |  | 70,000 |  |

10. | ULTIMATE CONTROLLING PARTY

| The share capital of the company is split between the shareholders such that no individual has control.