| GRATEDEAN LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31ST MARCH 2025 |
| GRATEDEAN LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31ST MARCH 2025 |
| GRATEDEAN LIMITED (REGISTERED NUMBER: 01432181) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Accountants' Report | 10 |
| GRATEDEAN LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Trading as Haines Watts |
| First Floor, Woburn Court |
| 2 Railton Road |
| Woburn Rd Ind Est |
| Kempston |
| Bedfordshire |
| MK42 7PN |
| GRATEDEAN LIMITED (REGISTERED NUMBER: 01432181) |
| BALANCE SHEET |
| 31ST MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Fair value 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. |
| GRATEDEAN LIMITED (REGISTERED NUMBER: 01432181) |
| BALANCE SHEET - continued |
| 31ST MARCH 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| GRATEDEAN LIMITED (REGISTERED NUMBER: 01432181) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Gratedean Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to al periods presented unless otherwise stated. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Gratedean Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover represents management charges and dividend income received from subsidiaries and net invoiced sales made by the South African farming branch, stated net of value added tax. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Farm buildings are depreciated straight line over their estimated useful life of 50 years. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| 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. |
| GRATEDEAN LIMITED (REGISTERED NUMBER: 01432181) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 2. | 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Any exchange differences arising on the translation of opening reserves of the foreign branch are recorded as a movement on reserves. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Listed investments |
| Listed investments, for which fair value can be measured reliably without undue cost or effort, are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
| The current fair value is based on a recognised stockbrokers valuation report at the balance sheet date. |
| Profits/losses arising from the disposal of fixed asset investments are treated as part of the ordinary activities. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| GRATEDEAN LIMITED (REGISTERED NUMBER: 01432181) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Farm land | to | Plant and | and |
| & buildings | property | machinery | fittings | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st April 2024 |
| Exchange differences |
| At 31st March 2025 |
| DEPRECIATION |
| At 1st April 2024 |
| Charge for year | ( |
) |
| Exchange differences |
| At 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1st April 2024 | 3,200,546 |
| Additions | 169,452 |
| Disposals | ( |
) | (110,256 | ) |
| Impairments | ( |
) | (62,818 | ) |
| Exchange differences | 1,086 |
| At 31st March 2025 | 3,198,010 |
| NET BOOK VALUE |
| At 31st March 2025 | 3,198,010 |
| At 31st March 2024 | 3,200,546 |
| GRATEDEAN LIMITED (REGISTERED NUMBER: 01432181) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| Cost or valuation at 31st March 2025 is represented by: |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| Valuation in 2019 | - | 183,391 | 183,391 |
| Valuation in 2020 | - | (182,509 | ) | (182,509 | ) |
| Valuation in 2021 | - | 287,170 | 287,170 |
| Valuation in 2022 | - | 29,931 | 29,931 |
| Valuation in 2023 | - | (108,849 | ) | (108,849 | ) |
| Valuation in 2024 | - | 135,534 | 135,534 |
| Valuation in 2025 | - | (171,957 | ) | (171,957 | ) |
| Cost | 1,845,906 | 1,179,393 | 3,025,299 |
| 1,845,906 | 1,352,104 | 3,198,010 |
| 6. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Textile stock |
| Stock of wine |
| 7. | DEBTORS |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Doubtful debt provision | (8,272 | ) | (7,198 | ) |
| Amounts owed by group undertakings |
| Amounts owed by participating interests | 91,076 | 81,283 |
| Stockbroker trading account | 14,278 | 52,479 |
| Directors' current accounts | 90,522 | 81,248 |
| Other tax and social security | 1,974 | 1,974 |
| VAT |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Aggregate amounts |
| GRATEDEAN LIMITED (REGISTERED NUMBER: 01432181) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary "A" | £1 | 1,000 | 1,000 |
| Ordinary "B" | £1 | 5,500 | 5,500 |
| Ordinary "C" | £1 | 1,250 | 1,250 |
| Ordinary "D" | £1 | 1,250 | 1,250 |
| Ordinary "E" | £1 | 500 | 500 |
| 9,500 | 9,500 |
| 10. | RESERVES |
| Foreign | Fair |
| Retained | exchange | value |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1st April 2024 | 5,240,149 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Exchange fluctuation re foreign branch |
- |
(85 |
) |
- |
(85 |
) |
| Transfer between reserves | 73,642 | 85 | (73,727 | ) | - |
| At 31st March 2025 | 5,141,573 |
| 11. | CONTINGENT LIABILITIES |
| The company has granted a cross guarantee to the bankers of PJN Properties Limited, a subsidiary company. |
| At the balance sheet date the maximum liability that could arise on this guarantee is £1,500,000 (2024 £1.5m). |
| GRATEDEAN LIMITED (REGISTERED NUMBER: 01432181) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31st March 2025 and 31st March 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The directors loans carry interest at 2.25% per annum. |
| The loans were repaid after the year end date. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The Directors consider the controlling party to be the Trustees of the P J Neill Children's Settlement Trust, the majority shareholder of Gratedean Limited. |
| The Trustees of this are Messrs. S C Mariner and P I Gurney. |
| ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| GRATEDEAN LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gratedean Limited for the year ended 31st March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Gratedean Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gratedean Limited and state those matters that we have agreed to state to the Board of Directors of Gratedean Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gratedean Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Gratedean Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gratedean Limited. You consider that Gratedean Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Gratedean Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Trading as Haines Watts |
| First Floor, Woburn Court |
| 2 Railton Road |
| Woburn Rd Ind Est |
| Kempston |
| Bedfordshire |
| MK42 7PN |