REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
GRANGE HALL PROPERTY COMPANY LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
GRANGE HALL PROPERTY COMPANY LIMITED |
GRANGE HALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 02969758) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GRANGE HALL PROPERTY COMPANY LIMITED |
Company Information |
FOR THE YEAR ENDED 31 MARCH 2024 |
Director: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
1st Floor Waterside House |
Waterside Drive |
Wigan |
Lancashire |
WN3 5AZ |
Bankers: |
Wigan Branch |
4 Standishgate |
Wigan |
WN1 1UG |
GRANGE HALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 02969758) |
Balance Sheet |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Capital redemption reserve |
Retained earnings - non distributable |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
GRANGE HALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 02969758) |
Balance Sheet - continued |
31 MARCH 2024 |
The financial statements were approved by the director and authorised for issue on |
GRANGE HALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 02969758) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Grange Hall Property Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
Investment property is shown at a fair value, based on the most recent valuation, with changes in fair value recognised in profit and loss. The most recent independent valuations were carried out in March 2023 by Mr J Brownlow BSc (Hons) MRICS of Wignall Brownlow LLP. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
GRANGE HALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 02969758) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2016 | 2,193,032 |
Valuation in 2019 | 274,465 |
Valuation in 2023 | 2,353,793 |
Cost | 3,621,195 |
8,442,485 |
The properties were valued on 31 March 2023 by Wignall Brownlow, in accordance with the RICS Red Book Global Standards effective from 31 January 2022. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Amounts owed by associates |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Amounts owed to associates | - | 39,728 |
Taxation and social security |
Other creditors |
7. | PROVISIONS FOR LIABILITIES |
31.3.24 | 31.3.23 |
£ | £ |
Deferred tax | 1,011,233 | 1,011,233 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Balance at 31 March 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 51 | 51 |
9. | POST BALANCE SHEET EVENTS |
Post year end the company acquired an investment property for total consideration of £2,198,517. |