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Registered number: 14051361
Granite City Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14051361
30 April 2024 30 April 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 517,519 500,779
517,519 500,779
CURRENT ASSETS
Debtors 5 100 725
Cash at bank and in hand 29,252 10,207
29,352 10,932
Creditors: Amounts Falling Due Within One Year 6 (555,429 ) (554,354 )
NET CURRENT ASSETS (LIABILITIES) (526,077 ) (543,422 )
TOTAL ASSETS LESS CURRENT LIABILITIES (8,558 ) (42,643 )
NET LIABILITIES (8,558 ) (42,643 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (8,658 ) (42,743 )
SHAREHOLDERS' FUNDS (8,558) (42,643)
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Manish Kumar
Director
25/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Granite City Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14051361 . The registered office is 1 Derwent Business Centre, Clarke Street, Derby, DE1 2BU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. The fair value of property was obtained from an online property resource company and has not been based on a valuation by an independent valuer with a professional qualification.
Changes in fair value are recognised in the profit and loss account.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 May 2023 500,000 1,039 501,039
Revaluation 17,000 - 17,000
As at 30 April 2024 517,000 1,039 518,039
Depreciation
As at 1 May 2023 - 260 260
Provided during the period - 260 260
As at 30 April 2024 - 520 520
Net Book Value
As at 30 April 2024 517,000 519 517,519
As at 1 May 2023 500,000 779 500,779
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Page 4
5. Debtors
30 April 2024 30 April 2023
£ £
Due within one year
Trade debtors - 300
Prepayments and accrued income - 325
Other debtors 100 100
100 725
6. Creditors: Amounts Falling Due Within One Year
30 April 2024 30 April 2023
£ £
Corporation tax 4,538 2,402
Other creditors - 61
Accruals and deferred income - 1,713
Directors' loan accounts 550,891 550,178
555,429 554,354
7. Share Capital
30 April 2024 30 April 2023
£ £
Allotted, Called up and fully paid 100 100
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