Registered number
05991905
Grantham (Yorkshire) Limited
Unaudited Filleted Accounts
31 December 2023
Grantham (Yorkshire) Limited
Registered number: 05991905
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,520,000 1,500,000
Current assets
Debtors 4 7,286 7,556
Cash at bank and in hand 6,258 2,994
13,544 10,550
Creditors: amounts falling due within one year 5 (404,284) (386,173)
Net current liabilities (390,740) (375,623)
Total assets less current liabilities 1,129,260 1,124,377
Creditors: amounts falling due after more than one year 6 (367,061) (411,232)
Provisions for liabilities (38,345) (34,545)
Net assets 723,854 678,600
Capital and reserves
Called up share capital 95 95
Profit and loss account 723,759 678,505
Shareholders' funds 723,854 678,600
The director is 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 director acknowledges his 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.
Ian Carling
Director
Approved by the board on 30 July 2024
Grantham (Yorkshire) Limited
Notes to the Accounts
for the year ended 31 December 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 is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the letting of investment property. Turnover is recognised in the period to which it relates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Investment property
£
Valuation
At 1 January 2023 1,500,000
Surplus on revaluation 20,000
At 31 December 2023 1,520,000
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 1,520,000
At 31 December 2022 1,500,000
The investment properties were valued by the director on an open market for existing use basis.
Freehold land and buildings: 2023 2022
£ £
Historical cost 1,068,228 1,068,228
Cumulative depreciation based on historical cost 276,294 255,017
791,934 813,211
4 Debtors 2023 2022
£ £
Trade debtors 5,982 6,413
Other debtors 1,304 1,143
7,286 7,556
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 38,286 34,119
Trade creditors 1,460 6,944
Taxation and social security costs 7,228 1,666
Other creditors 357,310 343,444
404,284 386,173
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 367,061 411,232
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 107,526 180,677
Secured bank loans 405,347 445,334
Bank loans are secured by legal charges over various investment properties owned by the company.
8 Related party transactions
Included in creditors: amounts falling due within one year is a directors loan account balance of £345,117 (2022: £332,304) owing to Ian Carling. The balance is interest free and repayable on demand.
9 Controlling party
The company is controlled by Ian Carling and Jane Elizabeth Carling who hold 53% of the company's issued share capital.
10 Other information
Grantham (Yorkshire) Limited is a private company limited by shares and incorporated in England. Its registered office is:
68 High Street
Skipton
BD23 1JJ
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