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REGISTERED NUMBER: 05995318 (England and Wales)















FINANCIAL STATEMENTS

FOR THE PERIOD

31 DECEMBER 2022 TO 29 DECEMBER 2023

FOR

GROUND RENT TRADING LIMITED

GROUND RENT TRADING LIMITED (REGISTERED NUMBER: 05995318)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 11

GROUND RENT TRADING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023







DIRECTOR: L C Freilich





SECRETARY: B Grossman





REGISTERED OFFICE: 5 Sentinel Square
Hendon
London
NW4 2EL





REGISTERED NUMBER: 05995318 (England and Wales)





ACCOUNTANTS: MGR Paris Limited
Chartered Accountants
Russell House
140 High Street
Edgware
HA8 7LW

GROUND RENT TRADING LIMITED (REGISTERED NUMBER: 05995318)

BALANCE SHEET
29 DECEMBER 2023

29.12.23 30.12.22
Notes £    £   
FIXED ASSETS
Investments 4 32,611 32,611
Investment property 5 3,475,398 3,446,079
3,508,009 3,478,690

CURRENT ASSETS
Debtors 6 735,720 619,261
Cash at bank and in hand 1,154 32,135
736,874 651,396
CREDITORS
Amounts falling due within one year 7 (474,968 ) (280,867 )
NET CURRENT ASSETS 261,906 370,529
TOTAL ASSETS LESS CURRENT LIABILITIES 3,769,915 3,849,219

CREDITORS
Amounts falling due after more than one year 8 (2,360,418 ) (2,434,861 )

PROVISIONS FOR LIABILITIES 11 (237,706 ) (237,706 )
NET ASSETS 1,171,791 1,176,652

GROUND RENT TRADING LIMITED (REGISTERED NUMBER: 05995318)

BALANCE SHEET - continued
29 DECEMBER 2023

29.12.23 30.12.22
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 12 100 100
Fair value reserve 13 1,251,084 1,251,084
Retained earnings 13 (79,393 ) (74,532 )
SHAREHOLDERS' FUNDS 1,171,791 1,176,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 December 2023 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





L C Freilich - Director


GROUND RENT TRADING LIMITED (REGISTERED NUMBER: 05995318)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


1. STATUTORY INFORMATION

Ground Rent Trading 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 invoiced ground rents on investment properties and insurance commissions received.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Interest payable
Interest payable is charged to the profit and loss account on an accruals basis.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets
Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive income.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

GROUND RENT TRADING LIMITED (REGISTERED NUMBER: 05995318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method.

Cash and cash equivalent
Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investment with original maturities of three months or less.

Taxation
Current tax is recognised for the amounts of income tax payable in respect of the taxable profit for the current of past reporting requirements using the tax rates and laws have been enacted or substantively enacted by the reporting dates.

Deferred tax is recognised in respect of all timing differences at the reporting date and are presented within the provision for liabilities using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 31 December 2022
and 29 December 2023 32,611
NET BOOK VALUE
At 29 December 2023 32,611
At 30 December 2022 32,611

GROUND RENT TRADING LIMITED (REGISTERED NUMBER: 05995318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 December 2022 3,446,079
Additions 29,319
At 29 December 2023 3,475,398
NET BOOK VALUE
At 29 December 2023 3,475,398
At 30 December 2022 3,446,079

Fair value at 29 December 2023 is represented by:
£   
Valuation in 2014 563,474
Valuation in 2019 369,110
Valuation in 2020 288,000
Cost 2,254,814
3,475,398

Investment property was valued on an open market value basis on 29 December 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.12.23 30.12.22
£    £   
Trade debtors 168,569 53,336
Amounts owed by group undertakings 46,860 -
Other debtors 520,291 565,925
735,720 619,261

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.12.23 30.12.22
£    £   
Bank loans and overdrafts (see note 9) 104,418 78,056
Amounts owed to group undertakings 284,260 121,886
Taxation and social security 77,290 71,925
Other creditors 9,000 9,000
474,968 280,867

GROUND RENT TRADING LIMITED (REGISTERED NUMBER: 05995318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.12.23 30.12.22
£    £   
Bank loans (see note 9) 1,445,583 1,520,026
Other creditors 914,835 914,835
2,360,418 2,434,861

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 914,835 914,835

Repayable by instalments
Bank loans more 5 yr by instal 1,428,633 1,496,615

9. LOANS

An analysis of the maturity of loans is given below:

29.12.23 30.12.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 26,039 -
Bank loans 78,379 78,056
104,418 78,056

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,760 9,510

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,190 13,901

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 914,835 914,835

Repayable by instalments
Bank loans more 5 yr by instal 1,428,633 1,496,615

GROUND RENT TRADING LIMITED (REGISTERED NUMBER: 05995318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

29.12.23 30.12.22
£    £   
Bank loans 1,523,962 1,598,082

Bank loans are secured against the investment property held by the company.

11. PROVISIONS FOR LIABILITIES
29.12.23 30.12.22
£    £   
Deferred tax 237,706 237,706

Deferred
tax
£   
Balance at 31 December 2022 237,706
Balance at 29 December 2023 237,706

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.12.23 30.12.22
value: £    £   
100 Ordinary shares 1 100 100

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 31 December 2022 (74,532 ) 1,251,084 1,176,552
Deficit for the period (4,861 ) (4,861 )
At 29 December 2023 (79,393 ) 1,251,084 1,171,691

GROUND RENT TRADING LIMITED (REGISTERED NUMBER: 05995318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


14. RELATED PARTY DISCLOSURES

Woodberry Management Limited

A fully owned subsidiary of Ground Rent Trading Limited.


29.12.23 30.12.22
£    £   
Amount due from related party at the balance sheet date 150 -

MP Group Services Ltd

A company under common control


The amount is repayable on demand.

29.12.23 30.12.22
£    £   
Amount due to related party at the balance sheet date 151,327 88,953

Moreland Property Group Ltd

A company under common control


This amount is repayable on demand.

29.12.23 30.12.22
£    £   
Amount due from related party at the balance sheet date 44,572 -

Moreland Estate Management Ltd

A company under common control


29.12.23 30.12.22
£    £   
Amount due from related party at the balance sheet date 2,138 -

GROUND RENT TRADING LIMITED (REGISTERED NUMBER: 05995318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


14. RELATED PARTY DISCLOSURES - continued

Reelstone Property Holdings Limited

A company under common control


This amount is repayable on demand.

29.12.23 30.12.22
£    £   
Amount due to related party at the balance sheet date 32,933 32,933

15. ULTIMATE PARENT COMPANY

The Moreland Property Group is regarded by the director as being the ultimate parent company.

ULTIMATE CONTROLLING PARTY

The director considers the ultimate controlling party of the company to be the board of the Moreland Property Group Limited.

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GROUND RENT TRADING LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ground Rent Trading Limited for the period ended 29 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Ground Rent Trading Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ground Rent Trading Limited and state those matters that we have agreed to state to the director of Ground Rent Trading Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ground Rent Trading Limited and its director for our work or for this report.

It is your duty to ensure that Ground Rent Trading Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ground Rent Trading Limited. You consider that Ground Rent Trading Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Ground Rent Trading Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






MGR Paris Limited
Chartered Accountants
Russell House
140 High Street
Edgware
HA8 7LW


24 September 2024