GRE CAPITAL LTD

• ⚠

  Material uncertainty over going concern

  The group has advanced £50.5m to its marketing agent that is due to be recovered against marketing costs on future joint projects. The ability of the group to recover the marketing advance by securing sufficient future joint projects with its marketing agent will depend on many factors including land availability, construction costs, interest rates and demand for housing, either to buy or rent. These risks are inherent to the industry, which is also sensitive to changes in the general economic climate and represent a material uncertainty that may cast significant doubt on the recovery of the debt and the group’s ability to continue as a going concern.

1. GRE CAPITAL LTD 2013-03-26 → present
2. DANIEL QUARTER 65 LIMITED 2007-03-30 → 2013-03-26

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Cox Hinkins Audit Services Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The group has advanced £50.5m to its marketing agent that is due to be recovered against marketing costs on future joint projects. The ability of the group to recover the marketing advance by securing sufficient future joint projects with its marketing agent will depend on many factors including land availability, construction costs, interest rates and demand for housing, either to buy or rent. These risks are inherent to the industry, which is also sensitive to changes in the general economic climate and represent a material uncertainty that may cast significant doubt on the recovery of the debt and the group’s ability to continue as a going concern.”

Group structure

1. GRE CAPITAL LTD · parent
   1. 1 Smithfield Square Ltd 100% · United Kingdom · Acquisition or development and resale of real estate or provision of advice
   2. Ashford Riverside Park Limited 100% · United Kingdom · Acquisition or development and resale of real estate or provision of advice
   3. Belright Limited 100% · United Kingdom · Acquisition or development and resale of real estate or provision of advice
   4. GRE Capital Espana SL 100% · Spain · Acquisition and resale of real estate

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -72.5%

  £19,320,443 → £5,312,724

• Cash

  -92.4%

  £411,183 → £31,142

• Net assets

  +70.5%

  £199,246 → £339,712

• Employees

  -16.7%

  6 → 5

• Operating profit

  -76.1%

  £2,924,795 → £699,581

• Profit before tax

  +474.9%

  -£30,225 → £113,318

• Wages

  -12.9%

  £200,390 → £174,446

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers