Grady Properties Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03700126 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2017

FOR

GRADY PROPERTIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

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

4

52,969

62,503

Investment property

5

2,415,400

2,415,400

2,468,369

2,477,903

CURRENT ASSETS

Debtors

20,649

17,755

Cash at bank

41,203

27,898

61,852

45,653

CREDITORS

Amounts falling due within one year

186,964

260,714

NET CURRENT LIABILITIES

(125,112

)

(215,061

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,343,257

2,262,842

CAPITAL AND RESERVES

Called up share capital

100

100

Freehold investment property

revaluation reserve

6

1,085,687

1,085,687

Retained earnings

1,257,470

1,177,055

SHAREHOLDERS' FUNDS

2,343,257

2,262,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 5 April 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 19 September 2017 and were signed on its behalf by:

Mr J Grady - Director

1.	STATUTORY INFORMATION

Grady 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 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

-

25% on reducing balance and 15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 6 April 2016

and 5 April 2017

111,779

DEPRECIATION

At 6 April 2016

49,276

Charge for year

9,534

At 5 April 2017

58,810

NET BOOK VALUE

At 5 April 2017

52,969

At 5 April 2016

62,503

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2016

and 5 April 2017

2,415,400

NET BOOK VALUE

At 5 April 2017

2,415,400

At 5 April 2016

2,415,400

Cost or valuation at 5 April 2017 is represented by:

£

Valuation in 2005

552,680

Valuation in 2015

533,007

Cost

1,329,713

2,415,400

If investment properties had not been revalued they would have been included at the following historical cost:

2017

2016

£

£

Cost

1,329,713

1,329,713

The investment properties were valued on an open market value basis on 19 September 2017 by Mr J Grady, Director

.

6.

RESERVES

Freehold

investment

property

revaluation

reserve

£

At 6 April 2016

and 5 April 2017

1,085,687

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

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 5 April 2017 which comprise the Income Statement,

Abridged 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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 ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grady Properties Limited 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

19 September 2017