REGISTERED NUMBER: 08147346 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

GREATSCHEME LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

N Spicer

P F Quigley

Registered office:

3rd Floor

86 - 90 Paul Street

London

EC2A 4NE

Registered number:

08147346 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Investments

4

-

-

Investment property

5

550,000

531,676

550,000

531,676

Current assets

Debtors

6

3,140

3,140

Cash at bank

8,186

4,585

11,326

7,725

Creditors

Amounts falling due within one year

7

408,012

407,274

Net current liabilities

(396,686

)

(399,549

)

Total assets less current liabilities

153,314

132,127

Provisions for liabilities

3,482

-

Net assets

149,832

132,127

Capital and reserves

Called up share capital

48,691

48,691

Fair value reserve

8

14,843

-

Retained earnings

8

86,298

83,436

Shareholders' funds

149,832

132,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 15 December 2025 and were signed on its behalf by:

P F Quigley - Director

1.	Statutory information

Greatscheme 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 financial statements are presented in Sterling, which is the functional currency of the company, rounded to the nearest £1.

2.	Accounting policies

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Greatscheme 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from the bank and other third parties, loans to related parties, and investment in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Going concern

The directors have made an assessment of the company's ability to continue as a going concern and have identified no material uncertainties that may cast a significant doubt on the ability of the company to continue as a going concern for the foreseeable future.

Investment in subsidiaries

The company's investment in its subsidiaries is recognised at cost less impairment.

3.	Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4.	Fixed asset investments

Other

investments

£

Cost

At 1 January 2024

and 31 December 2024

48,691

Provisions

At 1 January 2024

and 31 December 2024

48,691

Net book value

At 31 December 2024

-

At 31 December 2023

-

5.	Investment property

Total

£

Fair value

At 1 January 2024

531,676

Revaluations

18,324

At 31 December 2024

550,000

Net book value

At 31 December 2024

550,000

At 31 December 2023

531,676

Investment property was valued by the directors on an open market basis at 31 December 2024.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

18,324

Cost

531,676

550,000

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Other debtors

3,140

3,140

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

312,850

314,685

Trade creditors

9,256

3,312

Taxation and social security

1,517

4,616

Other creditors

84,389

84,661

408,012

407,274

Included in other creditors above is a loan of £1,141 (2023 - £1,141) from P F Quigley, a company director.

8.

Reserves

Retained

Fair value

earnings

reserve

Totals

£

£

£

At 1 January 2024

83,436

-

83,436

Profit for the year

17,705

17,705

Transfer to fair value reserve

(14,843

)

14,843

-

At 31 December 2024

86,298

14,843

101,141

9.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

N Spicer

Balance outstanding at start of year

2,347

2,347

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,347

2,347