REGISTERED NUMBER: |
GRS Properties Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2018 |
REGISTERED NUMBER: |
GRS Properties Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2018 |
GRS Properties Limited (Registered number: 04435159) |
Contents of the Financial Statements |
for the year ended 31 March 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GRS Properties Limited |
Company Information |
for the year ended 31 March 2018 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
GRS Properties Limited (Registered number: 04435159) |
Balance Sheet |
31 March 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
GRS Properties Limited (Registered number: 04435159) |
Balance Sheet - continued |
31 March 2018 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
GRS Properties Limited (Registered number: 04435159) |
Notes to the Financial Statements |
for the year ended 31 March 2018 |
1. | STATUTORY INFORMATION |
GRS Properties Limited is a |
The company's registered number and registered office address can be found on the Company |
Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
The amounts in the financial statements have been rounded to the nearest £1. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable. |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions |
of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are |
initially measured at transaction price and are subsequently carried at cost unless the arrangement |
indicates otherwise and then the asset is measured at the present value of the future receipts |
discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, |
bank loans and group borrowings, are initially recognised at transaction price and are subsequently |
carried at cost unless the arrangement indicates otherwise and then the liability is measured at the |
present value of the future obligations discounted at a market rate of interest. |
Investment properties |
In accordance with Statement of Standard Accounting Practice No. 19, the company's properties are |
held for long-term investment and are included in the Balance Sheet at their open market values. Any |
surplus or deficit on revaluation of such properties is transferred to the investment property revaluation |
reserve. Depreciation is not provided in respect of freehold investment properties. This policy |
represents a departure from the requirements of the Companies Act, which requires depreciation to be |
provided on all fixed assets. The directors consider that this policy is necessary in order that the |
financial statements may give a true and fair view because current values and changes in current |
values are of prime importance rather than the calculation of systematic annual depreciation. |
3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2017 |
and 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
The property was valued on an open market basis by Peill and Company as at 10 November 2003 at |
£60,000, the directors' value the property at the same amount on an open market basis as at 31 March |
2018. On a historical cost basis, freehold property would have been included at £35,937 (2017: |
£35,937). |
GRS Properties Limited (Registered number: 04435159) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2018 |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
Corporation tax |
Director's loan account | 582 | 582 |
Accruals and deferred income |
The director's loan account is unsecured, bears no interest and has no fixed repayment term. |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Director's loan account | 32,408 | 23,250 |
The director's loan account is unsecured, bears no interest and has no fixed repayment term. |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
2018 | 2017 |
£ | £ |
Bank overdraft |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | RELATED PARTY DISCLOSURES |
In the director's opinion the company is controlled by Mr GR Smith. |