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REGISTERED NUMBER: 11320566 (England and Wales)













GRANGE CORNER TWO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






GRANGE CORNER TWO LIMITED (REGISTERED NUMBER: 11320566)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRANGE CORNER TWO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: Mr M G Goodkind
Mrs J A Goodkind





REGISTERED OFFICE: 259 Capability Green
Luton
Bedfordshire
LU1 3LU





REGISTERED NUMBER: 11320566 (England and Wales)





ACCOUNTANTS: Sinclairs Bartrum Lerner
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

GRANGE CORNER TWO LIMITED (REGISTERED NUMBER: 11320566)

BALANCE SHEET
31ST MARCH 2023

2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 1,369,000 1,420,260

CURRENT ASSETS
Debtors 5 48,201 100
Cash at bank 9,926 20,041
58,127 20,141
CREDITORS
Amounts falling due within one year 6 327,475 287,285
NET CURRENT LIABILITIES (269,348 ) (267,144 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,099,652 1,153,116

CREDITORS
Amounts falling due after more than one
year

7

1,112,755

1,045,009
NET (LIABILITIES)/ASSETS (13,103 ) 108,107

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 (153,596 ) -
Retained earnings 140,393 108,007
(13,103 ) 108,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GRANGE CORNER TWO LIMITED (REGISTERED NUMBER: 11320566)

BALANCE SHEET - continued
31ST MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th November 2023 and were signed on its behalf by:





Mr M G Goodkind - Director


GRANGE CORNER TWO LIMITED (REGISTERED NUMBER: 11320566)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Grange Corner Two Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources and support from its parent company, Grange Corner Ltd to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

GRANGE CORNER TWO LIMITED (REGISTERED NUMBER: 11320566)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


4. TANGIBLE FIXED ASSETS
Long
leasehold
£
COST OR VALUATION
At 1st April 2022 1,420,260
Additions 138,365
Revaluations (189,625 )
At 31st March 2023 1,369,000
NET BOOK VALUE
At 31st March 2023 1,369,000
At 31st March 2022 1,420,260

In the opinion of the directors, the fair value of the investment properties at the balance sheet was £1,369,000.

Cost or valuation at 31st March 2023 is represented by:

Long
leasehold
£
Valuation in 2023 (189,625 )
Cost 1,558,625
1,369,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£ £
Other debtors - 100
Deferred tax asset 36,029 -
Prepayments and accrued income 12,172 -
48,201 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£ £
Other loans 10,628 10,856
Amounts owed to group undertakings 306,850 266,734
Tax 7,597 7,895
Accruals and deferred income 2,400 1,800
327,475 287,285

GRANGE CORNER TWO LIMITED (REGISTERED NUMBER: 11320566)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£ £
Other loans - 2-5 years 1,112,755 1,045,009

The mortgages of £1,093,058 included in the other loans are secured against the properties owned by the company in favour of Paragon Bank plc.

8. RESERVES
Fair value
reserve
£
Revaluation in the year (189,625 )
Deferred tax 36,029

At 31st March 2023 (153,596 )

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. POST BALANCE SHEET EVENTS

On 25 August 2023, the company sold a property for £134,000. The carrying value of the property as at 31st March 2023 has been adjusted to reflect the agreed sales price of £134,000 at the year end, as it is being under the fair value model.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Marc Goodkind by virtue of his majority controlling interest.