Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseThe principal activity of the company continued to be that of property investment advisory services21trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03735603 2022-04-01 2023-03-31 03735603 2021-04-01 2022-03-31 03735603 2023-03-31 03735603 2022-03-31 03735603 2021-04-01 03735603 c:Director1 2022-04-01 2023-03-31 03735603 d:FurnitureFittings 2022-04-01 2023-03-31 03735603 d:FurnitureFittings 2023-03-31 03735603 d:FurnitureFittings 2022-03-31 03735603 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03735603 d:CurrentFinancialInstruments 2023-03-31 03735603 d:CurrentFinancialInstruments 2022-03-31 03735603 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03735603 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03735603 d:ShareCapital 2023-03-31 03735603 d:ShareCapital 2022-03-31 03735603 d:RetainedEarningsAccumulatedLosses 2023-03-31 03735603 d:RetainedEarningsAccumulatedLosses 2022-03-31 03735603 c:OrdinaryShareClass1 2022-04-01 2023-03-31 03735603 c:OrdinaryShareClass1 2023-03-31 03735603 c:OrdinaryShareClass1 2022-03-31 03735603 c:FRS102 2022-04-01 2023-03-31 03735603 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03735603 c:FullAccounts 2022-04-01 2023-03-31 03735603 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03735603 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 03735603 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 03735603 d:ShareCapitalOtherShareTypes 2023-03-31 03735603 d:ShareCapitalOtherShareTypes 2022-03-31 03735603 d:CostValuation d:UnlistedNon-exchangeTraded 2023-03-31 03735603 d:CostValuation d:UnlistedNon-exchangeTraded 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03735603














GRACEMARK INVESTMENTS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
GRACEMARK INVESTMENTS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
GRACEMARK INVESTMENTS LIMITED
REGISTERED NUMBER:03735603

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
491
1,264

Current assets
  

Debtors: amounts falling due within one year
 5 
-
27,873

Current asset investments
 6 
50,000
50,000

Cash at bank and in hand
 7 
2,223
22,756

  
52,223
100,629

Creditors: amounts falling due within one year
 8 
(272,390)
(313,206)

Net current liabilities
  
 
 
(220,167)
 
 
(212,577)

Total assets less current liabilities
  
(219,676)
(211,313)

Provisions for liabilities
  

Deferred tax
 9 
(123)
(316)

  
 
 
(123)
 
 
(316)

Net liabilities
  
(219,799)
(211,629)


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
(219,801)
(211,631)

  
(219,799)
(211,629)


1

 
GRACEMARK INVESTMENTS LIMITED
REGISTERED NUMBER:03735603
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 profit and loss account 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: 




A J Pell
Director

Date: 25 October 2023

The notes on pages 3 to 7 form part of these financial statements.

2

 
GRACEMARK INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Gracemark Investments Limited is a private limited company, limited by shares, registered in England and Wales, registration number 03735603. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE and the address of it's principal business is 53 Welbeck Street, London, W1G 9XR.
The principal activity of the company continued to be that of property investment advisory services.

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.
The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the directors have confirmed that they will continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On the basis, the directors are satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

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.

3

 
GRACEMARK INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 balance sheet 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 balance sheet date.

 
2.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% reducing balance

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.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

4

 
GRACEMARK INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

 Creditors

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

 
2.9

 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 and loans to related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 1).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 April 2022
18,725


Additions
316


Disposals
(17,423)



At 31 March 2023

1,618



Depreciation


At 1 April 2022
17,462


Charge for the year
246


Disposals
(16,581)



At 31 March 2023

1,127



Net book value



At 31 March 2023
491



At 31 March 2022
1,263

5

 
GRACEMARK INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Other debtors
-
960

Prepayments and accrued income
-
26,913

-
27,873



6.


Current asset investments

2023
2022
£
£

Unlisted investments
50,000
50,000



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank
2,223
22,756



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
4,506
3,950

Other creditors
264,384
277,356

Accruals and deferred income
3,500
31,900

272,390
313,206



9.


Deferred taxation




2023
2022


£

£






At beginning of year
316
414


Charged to profit or loss
(193)
(98)



At end of year
123
316

6

 
GRACEMARK INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
123
316


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



11.


Related party transactions

Included in other creditors as at 31 March 2023 is an amount of £16,767 (2022 - £29,740) due to the director. The loan is interest free and repayable on demand.
Included in other creditors as at 31 March 2023 is an amount of £115,000 (2022 - £115,000) owned to a company with directors in common. The loan is interest free and repayable on demand.
 
7