Registered number
00970977
Croftgrove Limited
Filleted Accounts
29 February 2024
Croftgrove Limited
Registered number: 00970977
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 454,313 410,363
Current assets
Debtors 4 14,946 19,113
Cash at bank and in hand 181,850 178,912
196,796 198,025
Creditors: amounts falling due within one year 5 (44,770) (42,911)
Net current assets 152,026 155,114
Total assets less current liabilities 606,339 565,477
Provisions for liabilities (10,510) (112)
Net assets 595,829 565,365
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 221,786 221,786
Profit and loss account 373,943 343,479
Shareholders' funds 595,829 565,365
The directors are 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 directors acknowledge their 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.
C.T. Dockerill
Director
Approved by the board on 22 August 2024
Croftgrove Limited
Notes to the Accounts
for the year ended 29 February 2024
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 represents the value of rental income the company having ceased its previous trading activities.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% per annum on reducing balance
Investment Land and Buildings These have been reclassified and are not
depreciated but will be subject to regular
revaluation.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Investment property Motor vehicles Total
£ £ £
Cost
At 1 March 2023 409,772 14,300 424,072
Additions - 58,900 58,900
At 29 February 2024 409,772 73,200 482,972
Depreciation
At 1 March 2023 - 13,709 13,709
Charge for the year - 14,950 14,950
At 29 February 2024 - 28,659 28,659
Net book value
At 29 February 2024 409,772 44,541 454,313
At 28 February 2023 409,772 591 410,363
Freehold land and buildings: 2024 2023
£ £
Historical cost 187,986 187,986
Cumulative depreciation based on historical cost - -
187,986 187,986
The investment property has been revalued by the Directors at 28 February 2017.
4 Debtors 2024 2023
£ £
Trade debtors 14,946 17,963
Other debtors - 1,150
14,946 19,113
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 139 1,932
Corporation tax - 1,473
Other creditors 44,631 39,506
44,770 42,911
6 Revaluation reserve 2024 2023
£ £
At 1 March 2023 221,786 221,786
At 29 February 2024 221,786 221,786
7 Other information
Croftgrove Limited is a private company limited by shares and incorporated in England. Its registered office is:
Sample Oak Lane
Chilworth
Near Guildford
Surrey
GU4 8QW
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