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REGISTERED NUMBER: 13706801 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Grove Farm Estate Holdings Ltd

Grove Farm Estate Holdings Ltd (Registered number: 13706801)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Grove Farm Estate Holdings Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTOR: J D Richardson





REGISTERED OFFICE: 29a Crown Street
Brentwood
Essex
CM14 4BA





REGISTERED NUMBER: 13706801 (England and Wales)





ACCOUNTANTS: Moulton Johnson Limited
Chartered Accountants
29a Crown Street
Brentwood
Essex
CM14 4BA

Grove Farm Estate Holdings Ltd (Registered number: 13706801)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 177,965 124,572
Investment property 5 3,000,000 2,462,291
3,177,965 2,586,863

CURRENT ASSETS
Debtors 6 57,494 46,795
Cash at bank 51,702 45,119
109,196 91,914
CREDITORS
Amounts falling due within one year 7 43,402 38,017
NET CURRENT ASSETS 65,794 53,897
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,243,759

2,640,760

CREDITORS
Amounts falling due after more than one
year

8

(2,534,443

)

(2,540,144

)

PROVISIONS FOR LIABILITIES (149,522 ) (9,977 )
NET ASSETS 559,794 90,639

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 378,589 -
Retained earnings 181,105 90,539
559,794 90,639

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Grove Farm Estate Holdings Ltd (Registered number: 13706801)

Balance Sheet - continued
31st March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd August 2024 and were signed by:





J D Richardson - Director


Grove Farm Estate Holdings Ltd (Registered number: 13706801)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Grove Farm Estate Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Group reorganisation
During the previous period, the company acquired 100% of the share capital of MJ Holdings Limited, a company registered in the Isle of Man. The cost of this investment amounted to £2,540,371. A distribution in specie was then made by MJ Holdings Limited, transferring its assets to the company at their market values amounting to £2,540,204. As a result of this transaction, the company's investment in its subsidiary was subsequently impaired and MJ Holdings Limited was dissolved on 5th July 2024.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Grove Farm Estate Holdings Ltd (Registered number: 13706801)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 139,564
Additions 75,984
At 31st March 2024 215,548
DEPRECIATION
At 1st April 2023 14,992
Charge for year 22,591
At 31st March 2024 37,583
NET BOOK VALUE
At 31st March 2024 177,965
At 31st March 2023 124,572

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 2,462,291
Additions 32,923
Revaluations 504,786
At 31st March 2024 3,000,000
NET BOOK VALUE
At 31st March 2024 3,000,000
At 31st March 2023 2,462,291

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2024 504,786
Cost 2,495,214
3,000,000

The director has decided to revalue the property in the year. The valuation provided by the director has taken into account current market conditions as well as refurbishment works that have been carried out..

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 25,817 30,800
Other debtors 31,677 15,995
57,494 46,795

Grove Farm Estate Holdings Ltd (Registered number: 13706801)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 9,045 -
Trade creditors 4,440 10,497
Taxation and social security 16,841 12,355
Other creditors 13,076 15,165
43,402 38,017

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 2,534,443 2,540,144

9. RESERVES
Revaluation
reserve
£   
Movement on revaluations 504,785
Deferred tax on revaluations (126,196 )

At 31st March 2024 378,589

10. RELATED PARTY DISCLOSURES

J.D Richardson, the company's director has advanced a long-term, interest-free loan to the company. The balance on this loan at 31st March 2024 amounted to £2,534,443 (2023: £2,540,144).

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Grove Farm Estate Holdings Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Grove Farm Estate Holdings Ltd for the year ended 31st March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Grove Farm Estate Holdings Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Grove Farm Estate Holdings Ltd and state those matters that we have agreed to state to the director of Grove Farm Estate Holdings Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grove Farm Estate Holdings Ltd and its director for our work or for this report.

It is your duty to ensure that Grove Farm Estate Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Grove Farm Estate Holdings Ltd. You consider that Grove Farm Estate Holdings Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Grove Farm Estate Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moulton Johnson Limited
Chartered Accountants
29a Crown Street
Brentwood
Essex
CM14 4BA


22nd August 2024