Grayland Investments Limited Filleted accounts for Companies House (small and micro)

GRAYLAND INVESTMENTS LIMITED - Company Information

5 false false false false false false false false false true false false false false false false No description of principal activity 2020-04-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 00753067 2020-04-01 2021-03-31 00753067 2021-03-31 00753067 2019-04-01 2020-03-31 00753067 2020-03-31 00753067 core:FurnitureFittings 2020-04-01 2021-03-31 00753067 bus:Director1 2020-04-01 2021-03-31 00753067 core:LandBuildings 2021-03-31 00753067 core:FurnitureFittings 2021-03-31 00753067 core:WithinOneYear 2021-03-31 00753067 core:WithinOneYear 2020-03-31 00753067 core:ShareCapital 2021-03-31 00753067 core:ShareCapital 2020-03-31 00753067 core:RevaluationReserve 2021-03-31 00753067 core:RevaluationReserve 2020-03-31 00753067 core:RetainedEarningsAccumulatedLosses 2021-03-31 00753067 core:RetainedEarningsAccumulatedLosses 2020-03-31 00753067 core:LandBuildings 2020-03-31 00753067 bus:SmallEntities 2020-04-01 2021-03-31 00753067 bus:AuditExemptWithAccountantsReport 2020-04-01 2021-03-31 00753067 bus:FullAccounts 2020-04-01 2021-03-31 00753067 bus:SmallCompaniesRegimeForAccounts 2020-04-01 2021-03-31 00753067 bus:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 00753067 core:AssetRevaluationSurplusReserve 2020-04-01 2021-03-31

COMPANY REGISTRATION NUMBER: 00753067

Grayland Investments Limited

Filleted Unaudited Financial Statements

31 March 2021

Grayland Investments Limited

Statement of Financial Position

31 March 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	5		4,492,503	4,492,503

Current assets

Debtors	6	1,208,355	1,435,168
Cash at bank and in hand		16,712	16,040
		------------	------------
		1,225,067	1,451,208

Creditors: amounts falling due within one year	7	1,422,887		1,668,253
		------------		------------
Net current liabilities			197,820	217,045
			------------	------------
Total assets less current liabilities			4,294,683	4,275,458

Provisions

Taxation including deferred tax	86,830	86,830
	------------	------------
Net assets	4,207,853	4,188,628
	------------	------------

Capital and reserves

Called up share capital		1,500,000	1,500,000
Fair value reserve	8	1,410,080	1,410,080
Profit and loss account	8	1,297,773	1,278,548
		------------	------------
Shareholders funds		4,207,853	4,188,628
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2021 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Grayland Investments Limited

Statement of Financial Position (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 27 June 2021 , and are signed on behalf of the board by:

E Tajtelbaum

Director

Company registration number: 00753067

Grayland Investments Limited

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents amount of rents and service charges receivable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	25% reducing balance

No provision has been made for depreciation of freehold buildings.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity .

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2020: 4 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2020 and 31 March 2021	4,492,503	2,333	4,494,836
	------------	-------	------------
Depreciation
At 1 April 2020 and 31 March 2021	–	2,333	2,333
	------------	-------	------------
Carrying amount
At 31 March 2021	4,492,503	–	4,492,503
	------------	-------	------------
At 31 March 2020	4,492,503	–	4,492,503
	------------	-------	------------

The investment properties were revalued by the directors as at 31 March 2021 having considered the open market value of the properties. No independent valuation has been undertaken.

6. Debtors

	2021	2020
	£	£
Trade debtors	43,179	54,735
Other debtors	1,165,176	1,380,433
	------------	------------
	1,208,355	1,435,168
	------------	------------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Corporation tax	103	–
Social security and other taxes	11,720	11,514
Other creditors	1,411,064	1,656,739
	------------	------------
	1,422,887	1,668,253
	------------	------------

8. Reserves

Fair value reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income which is not distributable. Profit and loss account - This reserve records retained earnings and accumulated losses which are distributable.