Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-01-01falseProperty rental44truetrue 01705915 2021-01-01 2021-12-31 01705915 2021-12-31 01705915 2020-01-01 2020-12-31 01705915 2020-12-31 01705915 c:Director1 2021-01-01 2021-12-31 01705915 c:Director2 2021-01-01 2021-12-31 01705915 d:MotorVehicles 2021-01-01 2021-12-31 01705915 d:MotorVehicles 2021-12-31 01705915 d:MotorVehicles 2020-12-31 01705915 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 01705915 d:OfficeEquipment 2021-01-01 2021-12-31 01705915 d:OfficeEquipment 2021-12-31 01705915 d:OfficeEquipment 2020-12-31 01705915 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 01705915 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 01705915 d:FreeholdInvestmentProperty 2021-12-31 01705915 d:FreeholdInvestmentProperty 2020-12-31 01705915 d:CurrentFinancialInstruments 2021-12-31 01705915 d:CurrentFinancialInstruments 2020-12-31 01705915 d:Non-currentFinancialInstruments 2021-12-31 01705915 d:Non-currentFinancialInstruments 2020-12-31 01705915 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 01705915 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 01705915 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 01705915 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 01705915 d:ShareCapital 2021-12-31 01705915 d:ShareCapital 2020-12-31 01705915 d:CapitalRedemptionReserve 2021-01-01 2021-12-31 01705915 d:CapitalRedemptionReserve 2021-12-31 01705915 d:CapitalRedemptionReserve 2020-12-31 01705915 d:RevaluationReserve 2021-12-31 01705915 d:RevaluationReserve 2020-12-31 01705915 d:OtherMiscellaneousReserve 2021-01-01 2021-12-31 01705915 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 01705915 d:RetainedEarningsAccumulatedLosses 2021-12-31 01705915 d:RetainedEarningsAccumulatedLosses 2020-12-31 01705915 c:OrdinaryShareClass1 2021-01-01 2021-12-31 01705915 c:OrdinaryShareClass1 2021-12-31 01705915 c:OrdinaryShareClass1 2020-12-31 01705915 c:FRS102 2021-01-01 2021-12-31 01705915 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 01705915 c:FullAccounts 2021-01-01 2021-12-31 01705915 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 01705915 6 2021-01-01 2021-12-31 01705915 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 01705915 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 01705915 d:TaxLossesCarry-forwardsDeferredTax 2021-12-31 01705915 d:TaxLossesCarry-forwardsDeferredTax 2020-12-31 01705915 d:OtherDeferredTax 2021-12-31 01705915 d:OtherDeferredTax 2020-12-31 xbrli:shares iso4217:GBP xbrli:pure

Company Registration Number 01705915























GRANTRAVEN LIMITED





UNAUDITED
FINANCIAL STATEMENTS





 31 DECEMBER 2021























img3d0e.png

 
GRANTRAVEN LIMITED
REGISTERED NUMBER: 01705915

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,258
9,654

Investments
 5 
17,002
17,002

Investment property
 6 
3,170,000
3,170,000

  
3,194,260
3,196,656

Current assets
  

Debtors: amounts falling due within one year
 7 
2,480
10,085

Cash at bank and in hand
  
36,534
69,742

  
39,014
79,827

Creditors: amounts falling due within one year
 8 
(129,150)
(130,135)

Net current liabilities
  
 
 
(90,136)
 
 
(50,308)

Total assets less current liabilities
  
3,104,124
3,146,348

Creditors: amounts falling due after more than one year
 9 
-
(15,085)

Provisions for liabilities
  

Deferred tax
 10 
(298,324)
(304,530)

  
 
 
(298,324)
 
 
(304,530)

Net assets
  
2,805,800
2,826,733

Page 1

 
GRANTRAVEN LIMITED
REGISTERED NUMBER: 01705915

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Capital and reserves
  

Called up share capital 
 11 
14,645
14,645

Revaluation reserve
 12 
1,303,554
1,303,554

Capital redemption reserve
 12 
4,685
4,685

Profit and loss account
 12 
1,482,916
1,503,849

  
2,805,800
2,826,733


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr W Brotherton
Mr D Brotherton
Director
Director


Date: 4 August 2022

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
GRANTRAVEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Grantraven Limited is a private company limited by shares incorporated in England & Wales. The registered office of the company is Fairview House, Victoria Place, Carlisle, Cumbria, CA1 1HP and its principal place of business is Stoneshiel Hall, Stoneshiel, Auchencrow, Eyemouth TD14 5LU.
The presentational currency of the financial statements is Pounds Sterling, as this is the currency of the primary economic environment in which it operates.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Revenue

Rents and management charges receivable relating to freehold investment property are recognised in the period to which they relate.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
GRANTRAVEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is estimated at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Page 4

 
GRANTRAVEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.9

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.13

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 4).

Page 5

 
GRANTRAVEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Motor vehicles
Equipment
Total

£
£
£



Cost or valuation


At 1 January 2021
32,928
6,557
39,485



At 31 December 2021

32,928
6,557
39,485



Depreciation


At 1 January 2021
23,274
6,557
29,831


Charge for the year on owned assets
2,396
-
2,396



At 31 December 2021

25,670
6,557
32,227



Net book value



At 31 December 2021
7,258
-
7,258



At 31 December 2020
9,654
-
9,654


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2021
17,002



At 31 December 2021
17,002




Unlisted investments relate to a 15% shareholding in Cityview Limited, a company incorporated in England & Wales.

Page 6

 
GRANTRAVEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2021
3,170,000



At 31 December 2021
3,170,000

The 2021 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2021
2020
£
£


Historic cost
1,577,519
1,577,519

Accumulated depreciation and impairments
(533,287)
(501,735)

1,044,232
1,075,784


7.


Debtors

2021
2020
£
£


Trade debtors
2,427
8,715

Other debtors
53
-

Prepayments and accrued income
-
1,370

2,480
10,085


Page 7

 
GRANTRAVEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
12,321
32,738

Trade creditors
1,606
1,690

Corporation tax
-
8,912

Other taxation and social security
-
2,076

Other creditors
110,164
79,902

Accruals and deferred income
5,059
4,817

129,150
130,135


Included within creditors are bank loans which are secured; bank loans by way of a fixed and floating charge over the assets of the company.


9.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
-
15,085

-
15,085


Included within creditors are bank loans which are secured; bank loans by way of a fixed and floating charge over the assets of the company.


10.


Deferred taxation




2021


£






At beginning of year
(304,530)


Charged to profit or loss
6,206



At end of year
(298,324)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(1,815)
(1,835)

Tax losses carried forward
6,186
-

Change on revalued investment property
(302,695)
(302,695)

(298,324)
(304,530)

Page 8

 
GRANTRAVEN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

11.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



14,645 (2020 - 14,645) Ordinary shares of £1.00 each
14,645
14,645



12.


Reserves

Capital redemption reserve

The reserve comprises of shares redeemed by the company.

Other reserves

This reserve comprises of accumulated non-distributable profits in respect of property revaluations.

Profit and loss account

The reserve comprises of accumulated distributable profits and losses.


Page 9