Company Registration No. 10464723 (England and Wales)
GRACE FIRST ATLANTIC PROPERTIES LIMITED
Unaudited accounts
for the year ended 30 November 2023
GRACE FIRST ATLANTIC PROPERTIES LIMITED
Unaudited accounts
Contents
GRACE FIRST ATLANTIC PROPERTIES LIMITED
Company Information
for the year ended 30 November 2023
Director
OLUSEGUN OLAWANLE ADESUYI
Company Number
10464723 (England and Wales)
Registered Office
279 NEWMARSH ROAD
LONDON
SE28 8TE
ENGLAND
Accountants
Vakt & Co limited
279 NEWMARSH ROAD
London
SE28 8TE
GRACE FIRST ATLANTIC PROPERTIES LIMITED
Statement of financial position
as at 30 November 2023
Tangible assets
638,948
368,358
Cash at bank and in hand
859
70,347
Creditors: amounts falling due within one year
24,012
-
Net current assets
24,871
70,347
Total assets less current liabilities
663,819
438,705
Creditors: amounts falling due after more than one year
(666,966)
(438,605)
Net (liabilities)/assets
(3,147)
100
Called up share capital
2,603
2,603
Profit and loss account
(5,750)
(2,503)
Shareholders' funds
(3,147)
100
For the year ending 30 November 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 August 2024 and were signed on its behalf by
OLUSEGUN OLAWANLE ADESUYI
Director
Company Registration No. 10464723
GRACE FIRST ATLANTIC PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 November 2023
GRACE FIRST ATLANTIC PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10464723. The registered office is 279 NEWMARSH ROAD, LONDON, SE28 8TE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Land at Beyer Close, Gorton
4
Tangible fixed assets
Land & buildings
At 1 December 2022
368,358
At 30 November 2023
638,948
At 30 November 2023
638,948
At 30 November 2022
368,358
5
Creditors: amounts falling due within one year
2023
2022
GRACE FIRST ATLANTIC PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 November 2023
6
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
261,584
169,099
Taxes and social security
-
(1,507)
Loans from directors
405,382
271,013
This consist of funds borrowed from Together Finance and Bounce back Loan
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
OLUSEGUN OLAWANLE ADESUYI
Director loan to the company
271,013
134,369
-
405,382
271,013
134,369
-
405,382
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).