Registered number
03866029
GRANDVIEW LIMITED
Filleted Accounts
31 December 2023
GRANDVIEW LIMITED
Registered number: 03866029
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,243,421 5,951,842
Current assets
Debtors 4 375,942 345,400
Cash at bank and in hand 196,432 193,630
572,374 539,030
Creditors: amounts falling due within one year 5 (930,896) (399,209)
Net current (liabilities)/assets (358,522) 139,821
Total assets less current liabilities 5,884,899 6,091,663
Creditors: amounts falling due after more than one year 6 (1,906,733) (2,085,234)
Provisions for liabilities (509,143) (509,143)
Net assets 3,469,023 3,497,286
Capital and reserves
Called up share capital 10 10
Revaluation reserve 7 3,174,544 3,174,544
Profit and loss account 294,469 322,732
Shareholders' funds 3,469,023 3,497,286
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.
Mr E. Graham
Director
Approved by the board on 7 September 2024
GRANDVIEW LIMITED
Notes to the Accounts
for the year ended 31 December 2023
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 is measured at the fair value of the rent receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 15% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Fixturees, fitings & equipment Total
£ £
Cost
At 1 January 2023 5,872,692 303,134 6,175,826
Additions 278,426 29,441 307,867
At 31 December 2023 6,151,118 332,575 6,483,693
Depreciation
At 1 January 2023 - 223,984 223,984
Charge for the year - 16,288 16,288
At 31 December 2023 - 240,272 240,272
Net book value
At 31 December 2023 6,151,118 92,303 6,243,421
At 31 December 2022 5,872,692 79,150 5,951,842
4 Debtors 2023 2022
£ £
Trade debtors 1,340 1,340
Amounts owed by associated companies 274,963 186,091
Other debtors 99,639 157,969
375,942 345,400
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 36,522 34,706
Amounts owed to associated companies 429,075 336,435
Taxation and social security costs - 11,503
Other creditors 465,299 16,565
930,896 399,209
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,867,463 2,085,234
Other creditors 39,270 -
1,906,733 2,085,234
7 Fair value reserve 2023 2022
£ £
At 1 January 2023 3,174,544 3,174,544
At 31 December 2023 3,174,544 3,174,544
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Evol Graham
Dirctor's current account 58,330 (58,330) - -
58,330 (58,330) - -
9 Other information
GRANDVIEW LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
159 Streatham High Road
London
SW16 6EG
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