Gray & Gray Property Holdings Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC340522 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Gray & Gray Property Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C R Gallon

Mr B A Jamieson

Mr E G Robertson

REGISTERED OFFICE:

Eiledon

8 Beechwood Place

Ellon

Aberdeenshire

AB41 9BE

REGISTERED NUMBER:

SC340522 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

FIXED ASSETS

Investment property

4

440,000

440,000

CURRENT ASSETS

Debtors

5

2,574

2,574

Cash at bank

54,157

19,073

56,731

21,647

CREDITORS

Amounts falling due within one year

6

165,844

165,684

NET CURRENT LIABILITIES

(109,113

)

(144,037

)

TOTAL ASSETS LESS CURRENT LIABILITIES

330,887

295,963

CAPITAL AND RESERVES

Called up share capital

300

300

Fair value reserve

20,000

20,000

Capital redemption reserve

100

100

Retained earnings

310,487

275,563

SHAREHOLDERS' FUNDS

8

330,887

295,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 July 2023 and were signed on its behalf by:

Mr B A Jamieson - Director

1.	STATUTORY INFORMATION

Gray & Gray Property Holdings Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover represents gross rental income. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates. The company is not presently registered for Value Added Tax.

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.

Taxation

Taxation for the period comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2022

and 31 December 2022

440,000

NET BOOK VALUE

At 31 December 2022

440,000

At 31 December 2021

440,000

The properties held were formally revalued in November 2015 by J&E Shepherd, Chartered Surveyors. The directors were of the view that there was no material movement in the value of the properties during the financial year under report.

Fair value at 31 December 2022 is represented by:

£

Valuation in 2015

20,000

Cost

420,000

440,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Other debtors

2,574

2,574

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Taxation and social security

8,192

8,115

Other creditors

157,652

157,569

165,844

165,684

7.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.

8.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

31.12.22

31.12.21

£

£

Profit for the financial year

34,924

34,902

Dividends

-

(18,900

)

34,924

16,002

Opening shareholders' funds 2021

-

279,961

Net addition to shareholders' funds

34,924

295,963

Opening shareholders' funds

295,963

-

Closing shareholders' funds

330,887

295,963