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Registered number: 04813734
GREYCLYDE INVESTMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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GREYCLYDE INVESTMENTS LIMITED
REGISTERED NUMBER: 04813734
STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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GREYCLYDE INVESTMENTS LIMITED
REGISTERED NUMBER: 04813734
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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S E Gerrard
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The notes on pages 4 to 11 form part of these financial statements.
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GREYCLYDE INVESTMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
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Loss on revaluation of investment property
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Revaluation realised on disposal
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The notes on pages 4 to 11 form part of these financial statements.
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GREYCLYDE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Greyclyde Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 197 Ballards Lane, London, England, N3 1LP and its company registration number is 04813734.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis which, inter alia, is based on the directors’ reasonable expectation that the Company has adequate resources to continue to operate as a going concern for at least twelve months from the date of their approval.
In making the assessment of the appropriateness of this basis, the directors have considered the trading of the Company since the year end and the facilities that are either committed to the Company for a period of at least twelve months from the date of approval of the financial statements or which they consider will probably be available to the Company during such period.
After careful consideration, the directors consider that they have reasonable grounds to believe that the Company can be regarded as a going concern and, for this reason, they continue to adopt the going concern basis in preparing the Company’s financial statements.
Revenue relates to rental income from investment property which is leased out under operating leases and is recognised in the statement of comprehensive income on an accruals basis over the term of the lease.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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GREYCLYDE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge in the Statement of Comprehensive Income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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GREYCLYDE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Investment property, which is property held to earn rentals and/or for capital appreciation, is measured initially at cost, including directly attributable expenditure such as advisory costs, notary costs, transfer taxes and borrowing costs.
After initial recognition, investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the Statement of Comprehensive Income.
Investment property is derecognised when it has been disposed of or when the investment property is permanently withdrawn from use and no future economic benefit is expected from its disposal. Gains and losses on disposal of the investment property is recognised in the statement of comprehensive income in the year of disposal.
Investments in subsidiaries and associates are measured at cost less accumulated impairment.
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Associates and joint ventures
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Associates and Joint Ventures are held at cost less impairment.
Short-term debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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GREYCLYDE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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The average monthly number of employees, including directors, during the year was 3 (2024 - 2).
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Investments in subsidiary companies
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Investments in associates
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The 2025 valuations were made by the directors, on an open market value for existing use basis.
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If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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GREYCLYDE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Amounts owed by group undertakings
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Amounts owed by related parties (note 14)
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Bank overdrafts (secured)
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Amounts owed to related parties (note 14)
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Other taxation and social security
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Accruals and deferred income
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GREYCLYDE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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The bank loans and overdrafts are secured by charges on certain freehold and leasehold properties held by the Company. The amount of loan and overdraft facilities available are up to £27,785,822 (2024: £23m) and are detailed below.
The overdraft of £2m (2024: £2m) is renewed annually and repayable on demand. The overdraft set at £2m has not been utilised during the current financial year.
£6.4m (2024: £5m) of the facilities are due for repayment by 5 January 2026.
£18.2m (2024: £16m) of the facilities are due for repayment by 4 February 2026.
£1,185,822 (2024: £nil) of the facilities were repaid on 18 September 2025.
As security for bank facilities, there are unlimited cross guarantees between the Company and related parties Greyclyde Developments Limited and Abbeytown Limited.
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GREYCLYDE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Other provisions relate to commitments arising from a past event which have been fully settled in the current financial year.
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There are unlimited cross guarantees between the Company, Greyclyde Developments Limited and Abbeytown Limited. These are to secure facilities provided both by Barclays Bank PLC and Lloyds Bank PLC.
The total of these guarantees at 31 August 2025 was £25,785,822 (2024: £10,837,722).
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GREYCLYDE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Related party transactions
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During the year ended 31 August 2025, the company received loan advances totalling £726,147 (2024: £1,120,461) and made loan repayments totalling £3,343,533 (2024: £400,000) to a company under common control. Interest payable accrued on the loan at 2.50% above the Bank of England base rate and totalled £33,119 (2024: £194,767). Interest receivable accrued on the loan at 2.50% above the Bank of England base rate and totalled £38,105 (2024: £nil). At the year ended 31 August 2025, an amount of £313,899 (2024: £2,298,501 was due to) was due from a company under common control.
During the year ended 31 August 2025, the company made loan repayments totalling £500,000 (2024: £591,870). At 31 August 2025, an interest only amount of £51,760 (2024: £529,693) was due to a company under common control. The loan bears interest of 3.25% per annum over the Lloyds Bank Base Rate, calculated on a daily basis and accrued quarterly in arrears. The loan capital was fully repaid on 28 May 2025. The total interest accrued during the year was £22,067 (2024: £65,323). The company also paid salary contributions totalling £217,128 (2024: £209,875) to the same company under common control.
During the year ended 31 August 2025, the company paid expenses on behalf of a company under common control totalling £321,181 (2024: £12). At 31 August 2025, the amount owed to the company was £321,193 (2024: £12).
During the year ended 31 August 2025, the company made net advances to a company under common control totalling £9,180 (2024: £319,519). The loan bears interest at 2.5% per annum (2024: 4%) over the Lloyds Bank Base Rate from 1 September 2024, calculated on a daily basis and accrued quarterly in arrears. The total interest accrued during the year was £41,590 (2024: £nil). At 31 August 2025, the amount owed to the company was £632,874 (2024: £582,104).
During the year ended 31 August 2025, the company made payments on behalf of a Director totalling £75,314 (2024: £nil). At 31 August 2025, the amount owed to the company was £75,314 (2024: £nil).
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