Greyhound Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03279823 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

GREYHOUND PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A A Wilson

J N Wilson

SECRETARY:

M H Clarke

REGISTERED OFFICE:

The Oaks

Lidwells Lane

Goudhurst

Kent

TN17 1EP

REGISTERED NUMBER:

03279823 (England and Wales)

ACCOUNTANTS:

Jamieson Stone LLP

Windsor House

40/41 Great Castle Street

London

W1W 8LU

FIXED ASSETS

Tangible assets

4

2,701

3,601

Investments

5

142,902

142,902

Investment property

6

12,660,000

11,667,097

12,805,603

11,813,600

CURRENT ASSETS

Debtors

7

132,019

437,356

Cash at bank and in hand

16,550

77,280

148,569

514,636

CREDITORS

Amounts falling due within one year

8

(1,279,022

)

(1,394,304

)

NET CURRENT LIABILITIES

(1,130,453

)

(879,668

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,675,150

10,933,932

CREDITORS

Amounts falling due after more than one year

9

(4,661,419

)

(4,793,419

)

NET ASSETS

7,013,731

6,140,513

CAPITAL AND RESERVES

Called up share capital

6

6

Revaluation reserve

4,531,227

3,962,028

Retained earnings

2,482,498

2,178,479

SHAREHOLDERS' FUNDS

7,013,731

6,140,513

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 November 2023 and were signed on its behalf by:

A A Wilson - Director

1.	STATUTORY INFORMATION

Greyhound Properties Limited is a private company, limited by shares , registered in England and Wales. 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.

Related party exemption

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.

Turnover

Turnover represents income from the investment properties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Investment properties are valued annually and the aggregate surplus or deficit is transferred to a revaluation reserve in accordance with FRSEE. Adoption of this policy is a departure from the Companies Act 2006 necessary to give a true and fair view. No depreciation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years to expiry. The director considers that the lives of these assets and their residual values are such that depreciation is insignificant.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Motor

& fittings

vehicles

Totals

£

£

£

COST

At 1 May 2022

and 30 April 2023

45,274

43,367

88,641

DEPRECIATION

At 1 May 2022

41,673

43,367

85,040

Charge for year

900

-

900

At 30 April 2023

42,573

43,367

85,940

NET BOOK VALUE

At 30 April 2023

2,701

-

2,701

At 30 April 2022

3,601

-

3,601

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 May 2022

and 30 April 2023

52,452

90,450

142,902

NET BOOK VALUE

At 30 April 2023

52,452

90,450

142,902

At 30 April 2022

52,452

90,450

142,902

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2022

11,667,097

Additions

476,154

Disposals

(52,450

)

Revaluations

569,199

At 30 April 2023

12,660,000

NET BOOK VALUE

At 30 April 2023

12,660,000

At 30 April 2022

11,667,097

Fair value at 30 April 2023 is represented by:

£

Valuation in 2023

4,531,227

Cost

8,128,773

12,660,000

Investment properties were valued on an open market basis on 30 April 2023 by the directors.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

132,019

437,356

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

176,000

176,000

Trade creditors

-

4,672

Corporation tax

142,022

67,457

Social security and other taxes

9,367

11,826

Other creditors

665,757

535,943

Directors' current accounts

14,036

73,566

Accrued expenses

271,840

524,840

1,279,022

1,394,304

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans due between

1 & 2 years

176,000

176,000

Bank loans due between

2 & 5 years

528,000

528,000

Bank loans due after 5 years

by instalments

3,957,419

4,089,419

4,661,419

4,793,419

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years

by instalments

3,957,419

4,089,419

3,957,419

4,089,419

10.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

4,837,419

4,969,419