Grady Properties Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03700126 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 5TH APRIL 2014

FOR

GRADY PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

4

DIRECTORS:

Mr S J Grady

Mr J Grady

Mr R Grady

REGISTERED OFFICE:

1A Swansea Road

Norwich

Norfolk

NR2 3HU

REGISTERED NUMBER:

03700126 (England and Wales)

ACCOUNTANTS:

Berry & Warren Ltd

Chartered Accountants

54 Thorpe Road

Norwich

Norfolk

NR1 1RY

FIXED ASSETS

Tangible assets

2

1,801,110

1,789,060

CURRENT ASSETS

Debtors

12,000

15,000

Cash at bank

25,772

29,725

37,772

44,725

CREDITORS

Amounts falling due within one year

260,708

331,635

NET CURRENT LIABILITIES

(222,936

)

(286,910

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,578,174

1,502,150

CAPITAL AND RESERVES

Called up share capital

3

100

100

Freehold investment property

revaluation reserve

552,680

552,680

Profit and loss account

1,025,394

949,370

SHAREHOLDERS' FUNDS

1,578,174

1,502,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 3rd October 2014 and were signed on its behalf by:

Mr J Grady - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents rent received.

Tangible fixed assets

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

Plant and machinery etc

-

15% on reducing balance

Freehold properties represent investment properties and in accordance with FRSSE are revalued periodically and

movements taken to reserves. This represents a departure from the companies act which requires fixed assets to

be depreciated.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 6th April 2013

1,814,440

Additions

16,486

At 5th April 2014

1,830,926

DEPRECIATION

At 6th April 2013

25,380

Charge for year

4,436

At 5th April 2014

29,816

NET BOOK VALUE

At 5th April 2014

1,801,110

At 5th April 2013

1,789,060

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Grady Properties Limited for the year ended 5th April 2014 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Grady Properties Limited, as a body, in accordance with our

terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Grady Properties Limited and state those matters that we have agreed to state to the Board of Directors of Grady

Properties Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the

fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its

Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Grady Properties Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Grady

Properties Limited. You consider that Grady Properties Limited is exempt from the statutory audit requirement for the

year.

We have not been instructed to carry out an audit or a review of the financial statements of Grady Properties Limited.

For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Berry & Warren Ltd

Chartered Accountants

54 Thorpe Road

Norwich

Norfolk

NR1 1RY

3rd October 2014