Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31false02022-05-24No description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14129299 2022-05-23 14129299 2022-05-24 2023-05-31 14129299 2021-05-24 2022-05-23 14129299 2023-05-31 14129299 c:Director1 2022-05-24 2023-05-31 14129299 d:CurrentFinancialInstruments 2023-05-31 14129299 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14129299 d:ShareCapital 2023-05-31 14129299 d:RetainedEarningsAccumulatedLosses 2023-05-31 14129299 c:FRS102 2022-05-24 2023-05-31 14129299 c:AuditExempt-NoAccountantsReport 2022-05-24 2023-05-31 14129299 c:FullAccounts 2022-05-24 2023-05-31 14129299 c:PrivateLimitedCompanyLtd 2022-05-24 2023-05-31 14129299 e:PoundSterling 2022-05-24 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 14129299









OLD GRANGE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2023

 
OLD GRANGE PROPERTIES LIMITED
REGISTERED NUMBER: 14129299

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
Note
£

  

Current assets
  

Stocks
  
1,719,445

  
1,719,445

Creditors: amounts falling due within one year
 4 
(1,722,444)

Net current (liabilities)/assets
  
 
 
(2,999)

Total assets less current liabilities
  
(2,999)

  

Net (liabilities)/assets
  
(2,999)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(3,000)

  
(2,999)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 February 2024.




M Slater
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
OLD GRANGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

Old Grange Properties Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 15 Cranbourne Road, London, N10 2BT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.3

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried
Page 2

 
OLD GRANGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)


2.5
Financial instruments (continued)

at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 1.


4.


Creditors: Amounts falling due within one year

2023
£

Other loans
980,000

Amounts owed to group undertakings
739,444

Accruals and deferred income
3,000

1,722,444


 
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