Registered number
07029250
Gratton Property (Whitchurch) Limited
Unaudited Filleted Accounts
31 July 2023
Gratton Property (Whitchurch) Limited
Registered number: 07029250
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 130,000 109,520
Investments 4 416,950 400,200
546,950 509,720
Current assets
Stocks - 186,764
Debtors 5 33,453 32,237
Cash at bank and in hand 63,842 3,878
97,295 222,879
Creditors: amounts falling due within one year 6 (6,756) (58,155)
Net current assets 90,539 164,724
Total assets less current liabilities 637,489 674,444
Provisions for liabilities (3,900) -
Net assets 633,589 674,444
Capital and reserves
Called up share capital 2 2
Fair value reserve 433,528 400,198
Profit and loss account 200,059 274,244
Shareholders' funds 633,589 674,444
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 members have 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.
D Gratton, director Approved by the board on 24 November 2023
Gratton Property (Whitchurch) Limited
Notes to the Accounts
for the year ended 31 July 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 arises from various sources all related to the company's activity as a property business. It is measured at the fair value of the consideration receivable.
Tangible fixed assets (investment properties)
Tangible fixed assets comprise investment properties which are held to earn rentals and capital appreciation. These properties are not subject to depreciation but, instead, an annual review of their market valuation. Deferred taxation is recognised on the excess of valuation over cost.

This treatment represents a departure from the requirements of the Companies Act 2006 but is required in order for the accounts to show a true and fair view. It is impractical, in the opinion of the directors, to state an amount of depreciation which would have been charged against profit had the provisions of the Act been followed.
Investments
Investments in associated undertakings are recorded using the equity method where the carrying value of the investments is a) increased by the company's share of the profits (less losses) net of tax charges as recorded by those associates, these amounts also being credited and charged respectively to the company's profit and loss account, and b) reduced by any dividends paid by the associated undertakings to the company.
Stocks
Stocks comprise plots held and built for sale and are recorded at costs incurred to date.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the accounts and their inclusion in tax assessments. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings
£
Cost or revaluation
At 1 August 2022 109,520
Surplus on revaluation 20,480
At 31 July 2023 130,000
Depreciation
At 31 July 2023 -
Net book value
At 31 July 2023 130,000
At 31 July 2022 109,520
Freehold land and buildings: 2023 2022
£ £
Historical cost 109,520 109,520
Cumulative depreciation based on historical cost - -
109,520 109,520
The property has been revalued in this period by the directors to reflect their understanding of its market value.
4 Investments
Investments in
associated
undertakings
£
Carrying value
At 1 August 2022 400,200
Share of profits earned in year after tax 16,750
At 31 July 2023 416,950
5 Debtors 2023 2022
£ £
Non-trade debtors 33,453 32,237
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 6,096 435
Other creditors 660 57,720
6,756 58,155
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D Gratton
Loan made without terms attaching - 200,000 (200,000) -
- 200,000 (200,000) -
8 Related party transactions
Amounts owed between connected undertakings at the balance sheet date, no formal terms attaching in either case:

(1) The company was owed £31,500 (2022 - £31,500) by an undertaking in which the directors have an interest.
(2) The company previously (2022) owed £57,000 to an undertaking controlled by the directors but this amount has been cleared during the year ended on the balance sheet date.
9 Other information
Gratton Property (Whitchurch) Limited is a private company limited by shares and incorporated in England and Wales. The company is jointly-owned and therefore controlled by its directors. The registered office is situated at First Floor Offices, Allied House, Bryn Lane, Wrexham, LL13 9UT.
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