REGISTERED NUMBER: 04015526 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SAVAGE GRAY LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Investments

4

100

100

Investment property

5

3,704,000

3,704,000

3,704,100

3,704,100

CURRENT ASSETS

Debtors

6

5,085,016

4,786,660

Cash at bank and in hand

4,827

16,139

5,089,843

4,802,799

CREDITORS

Amounts falling due within one year

7

906,317

739,010

NET CURRENT ASSETS

4,183,526

4,063,789

TOTAL ASSETS LESS CURRENT LIABILITIES

7,887,626

7,767,889

CREDITORS

Amounts falling due after more than one year

8

(2,281,022

)

(2,238,661

)

PROVISIONS FOR LIABILITIES

11

(466,195

)

(466,195

)

NET ASSETS

5,140,409

5,063,033

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

12

1,398,584

1,398,584

Retained earnings

3,740,825

3,663,449

SHAREHOLDERS' FUNDS

5,140,409

5,063,033

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 24 December 2025 and were signed on its behalf by:

Mr S T Savage - Director

1.	STATUTORY INFORMATION

Savage Gray Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04015526

Registered office:

1 Kings Avenue

Winchmore Hill

London

N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).

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 Savage Gray 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.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates in relation to the carrying value of investment property. The most significant judgements and estimates affecting the valuation includes yields and estimated rental values.

Revenue

Revenue represents value of rents receivable excluding discount, rebates during the accounting period. Revenue is recognised evenly over the period of rental agreement.

Investments in subsidiaries

Investment in subsidiary undertakings is recognised at cost less impairment.

Investment property

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalent

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

3,704,000

NET BOOK VALUE

At 31 December 2024

3,704,000

At 31 December 2023

3,704,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2017

2,352,019

Valuation in 2018

(608,097

)

Valuation in 2020

227,004

Valuation in 2021

(130,073

)

Valuation in 2023

20,000

Cost

1,843,147

3,704,000

Investment properties have been recorded at the following historical cost:

2024

2023

£

£

Cost

1,843,147

1,843,147

The directors consider the market value of the investment properties at the year end to be as stated in the accounts.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

66,731

2,729

Amounts owed by group undertakings

4,191,302

4,190,697

Other debtors

826,983

593,234

5,085,016

4,786,660

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Bank loans and overdrafts (see note 9)

292,233

197,814

Trade creditors

21,425

142,152

Amounts owed to group undertakings

219,856

219,856

Other creditors

372,803

179,188

906,317

739,010

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank Loans

2,281,022

2,238,661

9.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

as restated

£

£

Amounts falling due within one year or on demand:

Bank loans

292,233

197,814

Amounts falling due between two and five years:

Bank loans - 2-5 years

29,572

36,516

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

2,246,884

2,197,580

Repayable by instalments

Bank loans more 5 yr by instal

4,566

4,565

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

as restated

£

£

Bank loans

2,422,174

2,388,622

The bank loans are secured by way of fixed and floating charge on the properties and other assets of the company and contains a negative pledge.

11.	PROVISIONS FOR LIABILITIES

2024

2023

as restated

£

£

Deferred tax

Other timing differences

466,195

466,195

Deferred

tax

£

Balance at 1 January 2024

466,195

Balance at 31 December 2024

466,195

12.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 December 2024

1,398,584

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in the other debtors due within one year is an amount of £593,230 (2023: £385,677) due from connected companies with common control. The loans were interest free and recoverable on demand.

Included in the other creditors due within one year is an amount of £228,999 (2023: £58,234) due to connected companies under common control. The loans were interest free and repayable on demand. Also, included is an interest bearing amount of £126,423 (2023: £103,293) due to connected companies under common control.

14.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Savage Group of Companies Ltd (Reg no: 07119110), a company incorporated in England and Wales.