REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD (REGISTERED NUMBER: 12247396) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Certified Accountants' Report | 10 |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD |
Company Information |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
9-11 Stratford Road |
Shirley |
Solihull |
West Midlands |
B90 3LU |
BANKERS: |
1660 High Street |
Knowle |
Solihull |
West Midlands |
B93 0LJ |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD (REGISTERED NUMBER: 12247396) |
Balance Sheet |
31 OCTOBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD (REGISTERED NUMBER: 12247396) |
Balance Sheet - continued |
31 OCTOBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Fair value reserve | 13 |
Retained earnings | 13 | ( |
) | ( |
) |
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. |
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 and authorised for issue on |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD (REGISTERED NUMBER: 12247396) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
1. | STATUTORY INFORMATION |
Grange Developments Warwickshire Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net sales of goods and services provided in the accounting period, including amounts recoverable on contracts and excluding value added tax. |
Amounts recoverable on contracts are services provided by the end of the accounting period but not invoiced at that time. They are calculated at sales values and shown on the Balance Sheet as part of debtors. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
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. |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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 balance sheet date. |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD (REGISTERED NUMBER: 12247396) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Going concern |
At the end of the period the company remained insolvent. However, the director continues to support the company and as a result considers it appropriate to prepare these financial statements on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 November 2021 |
and 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD (REGISTERED NUMBER: 12247396) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 November 2021 |
Revaluations | ( |
) |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
Cost or valuation at 31 October 2022 is represented by: |
£ |
Valuation in 2022 | 510,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 501,954 | 501,954 |
The investment property was valued on an open market basis on 28 February 2023 by John Earle and Son LLP T/A Earles . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts recoverable on contracts |
Other debtors |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD (REGISTERED NUMBER: 12247396) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 | 2021 |
£ | £ |
Within one year |
Between one and five years |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD (REGISTERED NUMBER: 12247396) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
At the end of the period the company had two outstanding bank loans. |
One loan is a mortgage secured on the investment property to which it relates. |
The other bank loan is a Coronavirus Bounce Back Loan. |
11. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Tax losses carried forward | ( |
) | ( |
) |
Other timing differences |
- | 791 |
Deferred |
tax |
£ |
Balance at 1 November 2021 |
Provided during year | ( |
) |
Balance at 31 October 2022 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
GRANGE DEVELOPMENTS WARWICKSHIRE LTD (REGISTERED NUMBER: 12247396) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
13. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 November 2021 | ( |
) | 3,376 |
Deficit for the year | ( |
) | ( |
) |
Net change in fair value | 20,250 | (20,250 | ) | - |
At 31 October 2022 | ( |
) | (12,121 | ) |
The Fair value reserve comprises |
2022 | 2021 |
£ | £ |
Total gains to date on revaluation of investment property | 8,046 | 33,046 |
Less deferred tax | (1,529 | ) | (6,279 | ) |
Balance at 30 September | 6,517 | 26,767 |
14. | RELATED PARTY DISCLOSURES |
The director of the company has loaned the company money which is interest free and repayable on demand. At the end of the year the outstanding amount totalled £136,715 (2022 - £137,710). |
Chartered Certified Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Grange Developments Warwickshire Ltd |
The following reproduces the text of the report prepared for the director 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 Director 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 Grange Developments Warwickshire Ltd for the year ended 31 October 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the director of Grange Developments Warwickshire Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Grange Developments Warwickshire Ltd and state those matters that we have agreed to state to the director of Grange Developments Warwickshire Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
It is your duty to ensure that Grange Developments Warwickshire Ltd 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 loss of Grange Developments Warwickshire Ltd. You consider that Grange Developments Warwickshire Ltd 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 Grange Developments Warwickshire Ltd. 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. |
Chartered Certified Accountants |
9-11 Stratford Road |
Shirley |
Solihull |
West Midlands |
B90 3LU |
Chartered Certified Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Grange Developments Warwickshire Ltd |