Registered number
13910907
Gruncroft Ltd
Filleted Accounts
28 February 2023
Gruncroft Ltd
Registered number: 13910907
Balance Sheet
as at 28 February 2023
Notes 2023
£
Fixed assets
Tangible assets 3 135,000
Current assets
Debtors 4 5,000
Cash at bank and in hand 2,491
7,491
Creditors: amounts falling due within one year 5 (26,715)
Net current liabilities (19,224)
Total assets less current liabilities 115,776
Creditors: amounts falling due after more than one year 6 (101,225)
Net assets 14,551
Capital and reserves
Called up share capital 10
Revaluation reserve 7 33,367
Profit and loss account (18,826)
Shareholder's funds 14,551
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Grunhut
Director
Approved by the board on 15 April 2024
Gruncroft Ltd
Notes to the Accounts
for the period from 11 February 2022 to 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 101,633
Surplus on revaluation 33,367
At 28 February 2023 135,000
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 135,000
4 Debtors 2023
£
Other debtors 5,000
5 Creditors: amounts falling due within one year 2023
£
Other creditors 26,715
6 Creditors: amounts falling due after one year 2023
£
Bank loans 101,225
7 Revaluation reserve 2023
£
Gain on revaluation of land and buildings 33,367
At 28 February 2023 33,367
8 Other information
Gruncroft Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Room 9 Enterprise House
3c Middleton Rd
Manchester
M8 5DT
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