Grace Land (Camden) Limited 06922173 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is the operation of a public house. Digita Accounts Production Advanced 6.30.9574.0 true false true 06922173 2022-07-01 2023-06-30 06922173 2023-06-30 06922173 bus:OrdinaryShareClass1 2023-06-30 06922173 bus:Original 2023-06-30 06922173 core:CurrentFinancialInstruments 2023-06-30 06922173 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 06922173 core:FurnitureFittingsToolsEquipment 2023-06-30 06922173 core:LandBuildings 2023-06-30 06922173 core:OtherPropertyPlantEquipment 2023-06-30 06922173 bus:SmallEntities 2022-07-01 2023-06-30 06922173 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 06922173 bus:FullAccounts 2022-07-01 2023-06-30 06922173 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 06922173 bus:RegisteredOffice 2022-07-01 2023-06-30 06922173 bus:Director1 2022-07-01 2023-06-30 06922173 bus:Director2 2022-07-01 2023-06-30 06922173 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 06922173 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 06922173 core:FurnitureFittings 2022-07-01 2023-06-30 06922173 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 06922173 core:LandBuildings 2022-07-01 2023-06-30 06922173 core:LeaseholdImprovements 2022-07-01 2023-06-30 06922173 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 06922173 core:PlantMachinery 2022-07-01 2023-06-30 06922173 1 2022-07-01 2023-06-30 06922173 countries:England 2022-07-01 2023-06-30 06922173 2022-06-30 06922173 core:FurnitureFittingsToolsEquipment 2022-06-30 06922173 core:LandBuildings 2022-06-30 06922173 core:OtherPropertyPlantEquipment 2022-06-30 06922173 2021-07-01 2022-06-30 06922173 2022-06-30 06922173 bus:OrdinaryShareClass1 2022-06-30 06922173 core:CurrentFinancialInstruments 2022-06-30 06922173 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 06922173 core:FurnitureFittingsToolsEquipment 2022-06-30 06922173 core:LandBuildings 2022-06-30 06922173 core:OtherPropertyPlantEquipment 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06922173

Grace Land (Camden) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Grace Land (Camden) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Grace Land (Camden) Limited

Company Information

Directors

Anselm Chatwin

Jon Andreas Akerlund

Registered office

The Axe
18 Northwold Road
London
N16 7HR

Accountants

Carbon Accountancy Limited
80-83 Long Lane
London
EC1A 9ET

 

Grace Land (Camden) Limited

(Registration number: 06922173)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

75,833

76,975

Current assets

 

Stocks

5

16,880

12,123

Debtors

6

664,034

539,565

Cash at bank and in hand

 

16,629

77,830

 

697,543

629,518

Creditors: Amounts falling due within one year

7

(229,562)

(231,180)

Net current assets

 

467,981

398,338

Total assets less current liabilities

 

543,814

475,313

Provisions for liabilities

(18,958)

(14,625)

Net assets

 

524,856

460,688

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

523,856

459,688

Shareholders' funds

 

524,856

460,688

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 February 2024 and signed on its behalf by:
 

.........................................
Anselm Chatwin
Director

 

Grace Land (Camden) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Axe
18 Northwold Road
London
N16 7HR

These financial statements were authorised for issue by the Board on 6 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

 

Grace Land (Camden) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold impromenets

over term of the lease

Plant and machinery

20% reducing balance

Furniture and fittings

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Grace Land (Camden) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2022 - 14).

 

Grace Land (Camden) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Leasehold improvment
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2022

26,946

110,703

68,310

205,959

Additions

-

13,059

-

13,059

At 30 June 2023

26,946

123,762

68,310

219,018

Depreciation

At 1 July 2022

14,015

61,953

53,015

128,983

Charge for the year

1,078

10,065

3,059

14,202

At 30 June 2023

15,093

72,018

56,074

143,185

Carrying amount

At 30 June 2023

11,853

51,744

12,236

75,833

At 30 June 2022

12,931

48,750

15,294

76,975

5

Stocks

2023
£

2022
£

Other inventories

16,880

12,123

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

40,851

54,731

Amounts owed by related parties

474,333

410,335

Prepayments

 

57,960

74,497

Other debtors

 

90,890

2

   

664,034

539,565

 

Grace Land (Camden) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

69,179

90,173

Amounts owed to group undertakings

34,902

8,758

Taxation and social security

 

53,275

40,354

Accruals and deferred income

 

21,807

81,355

Other creditors

 

50,399

10,540

 

229,562

231,180

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

9

Parent and ultimate parent undertaking

The company's immediate parent is Grace Land Group Limited, incorporated in England.