IRIS Accounts Production v23.3.0.418 10160644 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false false true false Ordinary 1.00000 Ordinary A shares 1.00000 Ordinary B shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure101606442022-05-31101606442023-05-31101606442022-06-012023-05-31101606442021-05-31101606442021-06-012022-05-31101606442022-05-3110160644ns16:EnglandWales2022-06-012023-05-3110160644ns15:PoundSterling2022-06-012023-05-3110160644ns11:Director12022-06-012023-05-3110160644ns11:PrivateLimitedCompanyLtd2022-06-012023-05-3110160644ns11:SmallEntities2022-06-012023-05-3110160644ns11:AuditExempt-NoAccountantsReport2022-06-012023-05-3110160644ns11:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3110160644ns11:SmallCompaniesRegimeForAccounts2022-06-012023-05-3110160644ns11:FullAccounts2022-06-012023-05-311016064412022-06-012023-05-3110160644ns11:OrdinaryShareClass12022-06-012023-05-3110160644ns11:OrdinaryShareClass22022-06-012023-05-3110160644ns11:OrdinaryShareClass32022-06-012023-05-3110160644ns11:Director22022-06-012023-05-3110160644ns11:RegisteredOffice2022-06-012023-05-3110160644ns6:CurrentFinancialInstruments2023-05-3110160644ns6:CurrentFinancialInstruments2022-05-3110160644ns6:Non-currentFinancialInstruments2023-05-3110160644ns6:Non-currentFinancialInstruments2022-05-3110160644ns6:ShareCapital2023-05-3110160644ns6:ShareCapital2022-05-3110160644ns6:RetainedEarningsAccumulatedLosses2023-05-3110160644ns6:RetainedEarningsAccumulatedLosses2022-05-3110160644ns6:NetGoodwill2022-06-012023-05-3110160644ns6:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3110160644ns6:PatentsTrademarksLicencesConcessionsSimilar2022-06-012023-05-3110160644ns6:FurnitureFittings2022-06-012023-05-3110160644ns6:ComputerEquipment2022-06-012023-05-3110160644ns6:NetGoodwill2022-05-3110160644ns6:PatentsTrademarksLicencesConcessionsSimilar2022-05-3110160644ns6:NetGoodwill2023-05-3110160644ns6:PatentsTrademarksLicencesConcessionsSimilar2023-05-3110160644ns6:NetGoodwill2022-05-3110160644ns6:PatentsTrademarksLicencesConcessionsSimilar2022-05-3110160644ns6:LandBuildings2022-05-3110160644ns6:FurnitureFittings2022-05-3110160644ns6:ComputerEquipment2022-05-3110160644ns6:LandBuildings2022-06-012023-05-3110160644ns6:LandBuildings2023-05-3110160644ns6:FurnitureFittings2023-05-3110160644ns6:ComputerEquipment2023-05-3110160644ns6:LandBuildings2022-05-3110160644ns6:FurnitureFittings2022-05-3110160644ns6:ComputerEquipment2022-05-3110160644ns6:CostValuation2022-05-3110160644ns6:AdditionsToInvestments2023-05-3110160644ns6:CostValuation2023-05-3110160644ns6:WithinOneYearns6:CurrentFinancialInstruments2023-05-3110160644ns6:WithinOneYearns6:CurrentFinancialInstruments2022-05-3110160644ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-05-3110160644ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-05-3110160644ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-05-3110160644ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-05-3110160644ns6:DeferredTaxation2022-05-3110160644ns6:DeferredTaxation2022-06-012023-05-3110160644ns6:DeferredTaxation2023-05-3110160644ns11:OrdinaryShareClass12023-05-3110160644ns11:OrdinaryShareClass22023-05-3110160644ns11:OrdinaryShareClass32023-05-31
REGISTERED NUMBER: 10160644 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

GROUND RENTS FOR SALE LTD

GROUND RENTS FOR SALE LTD (REGISTERED NUMBER: 10160644)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GROUND RENTS FOR SALE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Ms C Crosthwaite
Mr P Thomson





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 10160644 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

GROUND RENTS FOR SALE LTD (REGISTERED NUMBER: 10160644)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,000 5,000
Tangible assets 5 16,681 9,978
Investments 6 2 1
21,683 14,979

CURRENT ASSETS
Debtors 7 22,206 1,334
Cash at bank 44,306 75,950
66,512 77,284
CREDITORS
Amounts falling due within one year 8 56,980 56,729
NET CURRENT ASSETS 9,532 20,555
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,215

35,534

CREDITORS
Amounts falling due after more than one year 9 (29,298 ) (33,619 )

PROVISIONS FOR LIABILITIES 11 (1,554 ) (1,896 )
NET ASSETS 363 19

CAPITAL AND RESERVES
Called up share capital 12 4 4
Retained earnings 359 15
SHAREHOLDERS' FUNDS 363 19

GROUND RENTS FOR SALE LTD (REGISTERED NUMBER: 10160644)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 January 2024 and were signed on its behalf by:





Mr P Thomson - Director


GROUND RENTS FOR SALE LTD (REGISTERED NUMBER: 10160644)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Ground Rents For Sale Ltd 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.

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

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of three years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

GROUND RENTS FOR SALE LTD (REGISTERED NUMBER: 10160644)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
Cost
At 1 June 2022
and 31 May 2023 1,500 5,000 6,500
Amortisation
At 1 June 2022
and 31 May 2023 1,500 - 1,500
Net book value
At 31 May 2023 - 5,000 5,000
At 31 May 2022 - 5,000 5,000

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Cost
At 1 June 2022 - 16,029 10,353 26,382
Additions 8,500 - 1,049 9,549
At 31 May 2023 8,500 16,029 11,402 35,931
Depreciation
At 1 June 2022 - 6,378 10,026 16,404
Charge for year - 2,413 433 2,846
At 31 May 2023 - 8,791 10,459 19,250
Net book value
At 31 May 2023 8,500 7,238 943 16,681
At 31 May 2022 - 9,651 327 9,978

GROUND RENTS FOR SALE LTD (REGISTERED NUMBER: 10160644)

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


6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
Cost
At 1 June 2022 1
Additions 1
At 31 May 2023 2
Net book value
At 31 May 2023 2
At 31 May 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' current accounts 22,206 -
Tax - 1,334
22,206 1,334

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 4,166 4,166
Amounts owed to group undertakings 50,485 50,485
VAT 613 503
Directors' current accounts - 1
Accruals and deferred income 1,716 1,574
56,980 56,729

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 29,298 33,619

GROUND RENTS FOR SALE LTD (REGISTERED NUMBER: 10160644)

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


10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 4,166 4,166

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,166 4,166

Amounts falling due between two and five years:
Bank loans - 2-5 years 25,132 29,453

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,554 1,896

Deferred
tax
£   
Balance at 1 June 2022 1,896
Provided during year (342 )
Balance at 31 May 2023 1,554

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2
1 Ordinary A shares £1 1 1
1 Ordinary B shares £1 1 1
4 4