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REGISTERED NUMBER:
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GRAYS FARM INVESTMENTS LTD |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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REGISTERED NUMBER:
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GRAYS FARM INVESTMENTS LTD |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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GRAYS FARM INVESTMENTS LTD (REGISTERED NUMBER: 07983678) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 | to | 5 |
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GRAYS FARM INVESTMENTS LTD |
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COMPANY INFORMATION |
for the Year Ended 31 December 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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3 Castlegate |
Grantham |
Lincolnshire |
NG31 6SF |
GRAYS FARM INVESTMENTS LTD (REGISTERED NUMBER: 07983678) |
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STATEMENT OF FINANCIAL POSITION |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Revaluation reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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GRAYS FARM INVESTMENTS LTD (REGISTERED NUMBER: 07983678) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Grays Farm Investments Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the fair value rents receivable from investment properties. Rents received are recognised |
over the period of the lease. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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GRAYS FARM INVESTMENTS LTD (REGISTERED NUMBER: 07983678) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2017 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2017 |
and 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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Fair value at 31 December 2017 is represented by: |
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£ |
Valuation in 2018 | 20,000 |
Cost | 175,376 |
195,376 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Director's loan accs less 1yr |
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Accruals and deferred income |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary shares | 1p | 9 | 9 |
GRAYS FARM INVESTMENTS LTD (REGISTERED NUMBER: 07983678) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2017 |
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8. | GOING CONCERN |
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The financial statements have been prepared on a going concern basis, which the director believes is |
appropriate. Although the company made a loss in the current year this was due to one off expenditure and |
the company has been profitable in previous years, however, it still has net liabilities. The director has |
indicated continued support and believe there is no reason why the creditors will not continue to support the |
company. |
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For these reasons the director continues to adopt the going concern basis in preparing the financial |
statements, the validity of which depends on the continued support of the company's director, shareholder |
and creditors. |