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Registered number: 09451220
Granthorne Holdings Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Behegan Lynes
Accountancy & Taxation Advisers
Bank Chambers
Brook Street
Bishops Waltham
Hampshire
SO32 1AX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09451220
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 610 916
Investment Properties 5 422,761 -
Investments 6 68,000 50,000
491,371 50,916
CURRENT ASSETS
Debtors 7 129,106 129,739
Cash at bank and in hand 268,042 651,711
397,148 781,450
Creditors: Amounts Falling Due Within One Year 8 (157,712 ) (137,774 )
NET CURRENT ASSETS (LIABILITIES) 239,436 643,676
TOTAL ASSETS LESS CURRENT LIABILITIES 730,807 694,592
NET ASSETS 730,807 694,592
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 730,707 694,492
SHAREHOLDERS' FUNDS 730,807 694,592
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M J Hawthorne
Director
21 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Granthorne Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09451220 . The registered office is Bank Chambers, Brook Street, Bishops Waltham, Hampshire, SO32 1AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33.33% on cost
2.4. Investment Properties
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.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.6.1. Debtors
Short term debtors are measured at transaction price, less any impairment.
2.6.2. Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
...CONTINUED
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2.6. Financial Instruments - continued
2.6.3. Creditors
Short term creditors are measured at the transaction price.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Employee benefits
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 5,028
As at 29 February 2024 5,028
Depreciation
As at 1 March 2023 4,112
Provided during the period 306
As at 29 February 2024 4,418
Net Book Value
As at 29 February 2024 610
As at 1 March 2023 916
5. Investment Property
2024
£
Fair Value
As at 1 March 2023 -
Additions 422,761
As at 29 February 2024 422,761
6. Investments
Unlisted
£
Cost
As at 1 March 2023 50,000
Additions 18,000
As at 29 February 2024 68,000
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 68,000
As at 1 March 2023 50,000
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Page 6
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 86,825 86,775
Other debtors 42,281 42,964
129,106 129,739
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 144
Amounts owed to group undertakings 1,750 1,750
Other creditors 139,256 91,644
Taxation and social security 16,706 44,236
157,712 137,774
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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