REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
Melbourne Grove Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
Melbourne Grove Limited |
Melbourne Grove Limited (Registered number: 12925459) |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Melbourne Grove Limited |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
67 Westow Street |
Upper Norwood |
London |
SE19 3RW |
Melbourne Grove Limited (Registered number: 12925459) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 | ( |
) | ( |
) |
Retained earnings | 11 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
Melbourne Grove Limited (Registered number: 12925459) |
Balance Sheet - continued |
30 November 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Melbourne Grove Limited (Registered number: 12925459) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
Melbourne Grove Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties are measured at fair value. The surplus or deficit on the revaluation of investment properties ay their fair values are recognized in the income statement. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Melbourne Grove Limited (Registered number: 12925459) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
Additions |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2022 |
Disposals | ( |
) |
At 30 November 2023 |
DEPRECIATION |
Impairments | 128,501 |
At 30 November 2023 | 128,501 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
The investment properties are valued annually by the directors on an open market existing use basis. There is no material difference to its historical cost. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans |
9. | PROVISIONS FOR LIABILITIES |
30.11.23 | 30.11.22 |
£ | £ |
Deferred tax | 20,890 | 106,030 |
Melbourne Grove Limited (Registered number: 12925459) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
9. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 December 2022 |
Provided during year | ( |
) |
Balance at 30 November 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.23 | 30.11.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 December 2022 | ( |
) | ( |
) | (115,182 | ) |
Deficit for the year | ( |
) | ( |
) |
Property revaluation | 128,501 | (128,501 | ) | - |
Deferred tax | (85,140 | ) | 85,140 | - |
At 30 November 2023 | ( |
) | ( |
) | (327,134 | ) |
12. | ULTIMATE CONTROLLING PARTY |
Throughout the period the company has been controlled by its parent company Vasili Group Limited. The ultimate controlling party is Mr L Vasili, a director of the company, and director and major shareholder in Vasili Group Limited. |