Registration number: 00461913

Gregory's (Leather) Limited

(Registration number: 00461913)

Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	3	36,315	104,183
Investment property	4	200,000	-
		236,315	104,183
Current assets
Stocks		37,179	48,789
Debtors	5	4,186	2,755
Cash at bank and in hand		8,724	13,837
		50,089	65,381
Creditors: Amounts falling due within one year	6	(77,404)	(55,798)
Net current (liabilities)/assets		(27,315)	9,583
Total assets less current liabilities		209,000	113,766
Creditors: Amounts falling due after more than one year	6	-	(31,557)
Provisions for liabilities		(21,166)	-
Net assets		187,834	82,209
Capital and reserves
Called up share capital		8,672	8,672
Other reserves		6,328	6,328
Retained earnings		172,834	67,209
Shareholders' funds		187,834	82,209

For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

Gregory's (Leather) Limited

(Registration number: 00461913)

Balance Sheet as at 31 January 2026 (continued)

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 5 October 2026 and signed on its behalf by:
 

......................................... N Gregory Director

Gregory's (Leather) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	Accounting policies

Statutory information

Gregory's (Leather) Limited is a private company, limited by shares, domiciled in England and Wales, company number 00461913. The registered office is at Unit 4, Frenchgate Centre, Doncaster, DN1 1LA.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively ecacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Gregory's (Leather) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

1	Accounting policies (continued)

Asset class	Depreciation method and rate
Land and Buildings	Not depreciated
Fixtures and fittings	20% reducing balance
Motor vehicles	25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

Gregory's (Leather) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2025 - 3).

3	Tangible assets

	Land and buildings £	Fixtures and fittings £	Motor vehicles  £	Total £
Cost
At 1 February 2025	56,198	15,508	61,696	133,402
Disposals	(56,198)	-	-	(56,198)
At 31 January 2026	-	15,508	61,696	77,204
Depreciation
At 1 February 2025	-	8,964	20,255	29,219
Charge for the year	-	1,310	10,360	11,670
At 31 January 2026	-	10,274	30,615	40,889
Carrying amount
At 31 January 2026	-	5,234	31,081	36,315
At 31 January 2025	56,198	6,544	41,441	104,183

The land and buildings have been transferred to investment property during the year.

4	Investment properties

	2026 £
Additions	56,198
Fair value adjustments	143,802
At 31 January	200,000

The investment property has been revalued by the directors at the year end.

Gregory's (Leather) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

5

Debtors

	2026 £	2025 £
Trade debtors	1,150	-
Prepayments	2,852	2,755
Other debtors	184	-
	4,186	2,755

6

Creditors

		2026  £	2025  £
Due within one year
Bank loan		5,272	8,080
HP and finance lease liabilities		-	6,705
Trade creditors		1,324	15,149
Amounts due to related parties		55,624	7,751
Social security and other taxes		7,221	5,057
Outstanding defined contribution pension costs		238	252
Other creditors		3,965	4,475
Accrued expenses		3,760	8,329
		77,404	55,798

Gregory's (Leather) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

6	Creditors (continued)

		2026 £	2025 £
Due after one year
Bank loan		-	5,272
HP and finance lease liabilities		-	26,285
		-	31,557

The HP and finance lease liabilities are secured on the assets to which they relate.

7

Reserves

Included in retained earnings are amounts totalling £122,636 ( 2025: £NIL ) which are not distributable

8	Commitments

As at the balance sheet date, the company had total commitments under non-cancellable operating leases over the remaining term of those leases of £17,667 (2025 - £53,000)