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Registration number: 09595191

Grove House Estates Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Grove House Estates Limited

(Registration number: 09595191)

Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

3

3,108,386

3,108,386

Current assets

 

Debtors

4

17,226

9,105

Cash at bank and in hand

 

4,189

12,392

 

21,415

21,497

Creditors: Amounts falling due within one year

5

(2,555,246)

(2,551,056)

Net current liabilities

 

(2,533,831)

(2,529,559)

Total assets less current liabilities

 

574,555

578,827

Creditors: Amounts falling due after more than one year

5

(200,000)

(262,500)

Net assets

 

374,555

316,327

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

374,455

316,227

Shareholders' funds

 

374,555

316,327

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 16 April 2024 and signed on its behalf by:
 

 

Grove House Estates Limited

(Registration number: 09595191)

Balance Sheet as at 31 July 2023

.........................................

Mr R J Fennell
Director

 

Grove House Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

Accounting policies

Statutory Information

Grove House Estates Limited is a private company, limited by shares, domiciled in England and Wales, company number 09595191. The registered office is at Grove Coach House, Wharf Street, Bawtry, Doncaster, South Yorkshire, DN10 6HZ, United Kingdom.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises rents receivable from tenants in the ordinary course of the company’s activities. Turnover is shown net of management charges.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Grove House Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

3

Investment properties

2023
£

At 1 August 2022 and 31 July 2023

3,108,386

4

Debtors

2023
£

2022
£

Prepayments

2,792

5,185

Other debtors

14,434

3,920

17,226

9,105

5

Creditors

2023
 £

2022
 £

Due within one year

Director's current account

2,525,353

2,537,372

Accrued expenses

26,466

1,134

Corporation tax

-

12,550

Deferred income

3,427

-

2,555,246

2,551,056

Due after one year

Bank Loan

200,000

262,500

The bank loan is secured on the investment properties held by the company.