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REGISTERED NUMBER: 03172908 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2023

FOR

GRANDFIELD INVESTMENTS LIMITED

GRANDFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 03172908)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GRANDFIELD INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2023







DIRECTOR: A Nezri





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 03172908 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

GRANDFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 03172908)

STATEMENT OF FINANCIAL POSITION
30 MARCH 2023

30.3.23 30.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,823 3,340
Investment property 5 4,728,649 4,647,861
4,731,472 4,651,201

CURRENT ASSETS
Debtors 6 487,338 476,918
Cash at bank 34,444 34,940
521,782 511,858
CREDITORS
Amounts falling due within one year 7 (434,748 ) (354,748 )
NET CURRENT ASSETS 87,034 157,110
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,818,506

4,808,311

CREDITORS
Amounts falling due after more than one
year

8

(1,450,106

)

(1,474,304

)
NET ASSETS 3,368,400 3,334,007

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 12 2,979,398 2,979,398
Retained earnings 12 389,000 354,607
SHAREHOLDERS' FUNDS 3,368,400 3,334,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 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.

GRANDFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 03172908)

STATEMENT OF FINANCIAL POSITION - continued
30 MARCH 2023


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 22 October 2024 and were signed by:





A Nezri - Director


GRANDFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 03172908)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023

1. STATUTORY INFORMATION

GRANDFIELD INVESTMENTS 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:
a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

GRANDFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 03172908)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 31 March 2022
and 30 March 2023 29,011 3,535 32,546
DEPRECIATION
At 31 March 2022 25,758 3,448 29,206
Charge for year 488 29 517
At 30 March 2023 26,246 3,477 29,723
NET BOOK VALUE
At 30 March 2023 2,765 58 2,823
At 30 March 2022 3,253 87 3,340

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2022 4,647,861
Additions 80,788
At 30 March 2023 4,728,649
NET BOOK VALUE
At 30 March 2023 4,728,649
At 30 March 2022 4,647,861

The director has confirmed that there is no significant increase or decrease in the property market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.23 30.3.22
£    £   
Other debtors 487,338 476,918

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.23 30.3.22
£    £   
Taxation and social security 18,242 19,936
Other creditors 416,506 334,812
434,748 354,748

GRANDFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 03172908)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.3.23 30.3.22
£    £   
Bank loans (see note 9) 1,404,501 1,424,304
Other creditors 45,605 50,000
1,450,106 1,474,304

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loan 796,558 796,558

Repayable by instalments
Bank loans more 5 yr by instal 607,943 627,746

9. LOANS

An analysis of the maturity of loans is given below:

30.3.23 30.3.22
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 45,605 50,000

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loan 796,558 796,558

Repayable by instalments
Bank loans more 5 yr by instal 607,943 627,746

10. SECURED DEBTS

The following secured debts are included within creditors:

30.3.23 30.3.22
£    £   
Bank loans 1,404,501 1,424,304

1. Long term bank loan is secured by first charge over the company's investment property.

2. Under the bank loan, £45,605 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

GRANDFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 03172908)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.3.23 30.3.22
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 31 March 2022 354,607 2,979,398 3,334,005
Profit for the year 34,393 34,393
At 30 March 2023 389,000 2,979,398 3,368,398

13. ULTIMATE CONTROLLING PARTY

The controlling party is A Nezri.