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Registered Number: 11923373
England and Wales

 

 

 

GRANT STOKE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
Directors Mr M S Ali
Mr M U Ali
Registered Number 11923373
Registered Office Albion House, Albion Close
Slough
SL2 5DT
Accountants IAC Accountants Limited
Windfall House D1 The Courtyard
Alban Park Hatfield Road
St Albans
AL4 0LA
Secretary Mr M S Ali
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 2,628,206    2,172,154 
2,628,206    2,172,154 
Current assets      
Debtors 4 93,330    13,649 
Cash at bank and in hand 3,985    342,957 
97,315    356,606 
Creditors: amount falling due within one year 5 (2,455,230)   (2,200,741)
Net current assets (2,357,915)   (1,844,135)
 
Total assets less current liabilities 270,291    328,019 
Creditors: amount falling due after more than one year 6 (328,561)   (328,561)
Net assets (58,270)   (542)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (58,370)   (642)
Shareholder's funds (58,270)   (542)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 April 2024 and were signed on its behalf by:


-------------------------------
Mr M S Ali
Director
2
General Information
Grant Stoke Limited is a private company, limited by shares, registered in England and Wales, registration number 11923373, registration address Albion House, Albion Close, Slough, SL2 5DT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. In addition the directors have confirmed that they will not recall their loans within 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.
Turnover
Turnover comprises the net rent receivable from the investment properties.
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 taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees


Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 May 2022 2,172,153    2,172,153 
Additions 456,053    456,053 
Disposals  
At 30 April 2023 2,628,206    2,628,206 
Depreciation
At 01 May 2022  
Charge for year  
On disposals  
At 30 April 2023  
Net book values
Closing balance as at 30 April 2023 2,628,206    2,628,206 
Opening balance as at 01 May 2022 2,172,154    2,172,154 

If investment properties had not been revalued it would have been included at the historical cost of £2,628,206.


The directors considers that Investment properties doesn't require any revaluation as at 30 April 2023.    

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 500   
Amount owed by connected company 77,257    13,649 
Prepayments & Accrued Income 850   
Other Debtors 3,715   
Directors' Current Accounts 11,008   
93,330    13,649 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 453    744 
Amounts Owed to connected company 2,441,937    2,191,477 
Corporation Tax 4,550    588 
Accrued Expenses 8,290    6,840 
Directors' Current Accounts   1,092 
2,455,230    2,200,741 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 328,561    328,561 
328,561    328,561 

7.

Related Party Transactions

Debtors due within one year includes an amount of £11,008 (2022 - £1,092 due to) due from the director. Director paid interest of £121 to the company on overdrawn balance. This loan is repayable on demand. 

Debtors due with in one year includes an interest free amount of £77,257 (2022 - £13,649) due from connected companies in which the directors have controlling interest.  This amount is repayable on demand.

Creditors due with in one year includes an amount of £2,441,937 (2022 - £2,191,477) due to connected companies in which the directors have controlling interest. Company paid interest of £55,568 to the intercompany on outstanding balance. This loan is repayable on demand.
3