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REGISTERED NUMBER: 08321225 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Grange Cars and Commercials Limited

Grange Cars and Commercials Limited (Registered number: 08321225)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Grange Cars and Commercials Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: C R Swinscoe





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





REGISTERED NUMBER: 08321225 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Grange Cars and Commercials Limited (Registered number: 08321225)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 231 272
Investment property 5 589,958 595,992
590,189 596,264

CURRENT ASSETS
Stocks 533,042 291,757
Debtors 6 18,317 1,028
Cash at bank 1,181,271 1,325,843
1,732,630 1,618,628
CREDITORS
Amounts falling due within one year 7 191,677 426,315
NET CURRENT ASSETS 1,540,953 1,192,313
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,131,142

1,788,577

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,131,042 1,788,477
SHAREHOLDERS' FUNDS 2,131,142 1,788,577

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:



C R Swinscoe - Director


Grange Cars and Commercials Limited (Registered number: 08321225)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Grange Cars and Commercials Limited 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.

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 represents net invoiced sales of vehicles excluding value added tax. Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the agreed upon payment.

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 equipment- 15% on reducing balance
Computer equipment- 33% on cost

Investment property
Investment property is not depreciated but is revalued annually at its fair value with any surplus or deficit reflected in the profit and loss account. Any aggregate surplus or deficit arising from changes in fair value is transferred to a fair value reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow moving items. Cost represents the invoiced value of vehicles purchased.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Grange Cars and Commercials Limited (Registered number: 08321225)

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
equipment equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 381 249 630
DEPRECIATION
At 1 February 2023 109 249 358
Charge for year 41 - 41
At 31 January 2024 150 249 399
NET BOOK VALUE
At 31 January 2024 231 - 231
At 31 January 2023 272 - 272

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 595,992
Additions (6,034 )
At 31 January 2024 589,958
NET BOOK VALUE
At 31 January 2024 589,958
At 31 January 2023 595,992

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 589,958

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 589,958 595,992
Aggregate depreciation (56,591 ) (44,792 )

Investment property was valued on a fair value basis on 31 January 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,228 -
Prepayments 1,089 1,028
18,317 1,028

Grange Cars and Commercials Limited (Registered number: 08321225)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 940 33,807
Tax 111,403 33,145
Social security and other taxes 17,069 15,399
Other creditors 78 68
Director's current account 38,125 314,514
Accruals and deferred income 24,062 29,382
191,677 426,315