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REGISTERED NUMBER: 09426524 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

GROVEMILL INVESTMENTS LIMITED

GROVEMILL INVESTMENTS LIMITED (REGISTERED NUMBER: 09426524)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GROVEMILL INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Antonio Corricelli
Sheila Corricelli





REGISTERED OFFICE: 13 Queen Anne's Grove
London
W5 3XP





REGISTERED NUMBER: 09426524 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

GROVEMILL INVESTMENTS LIMITED (REGISTERED NUMBER: 09426524)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,725,000 1,725,000

CURRENT ASSETS
Debtors 5 2,803 2,689
Cash at bank 6,447 21,956
9,250 24,645
CREDITORS
Amounts falling due within one year 6 1,637,708 1,681,555
NET CURRENT LIABILITIES (1,628,458 ) (1,656,910 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,542

68,090

CREDITORS
Amounts falling due after more than one
year

7

(2,423

)

(2,423

)

PROVISIONS FOR LIABILITIES (2,707 ) (2,707 )
NET ASSETS 91,412 62,960

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 91,312 62,860
SHAREHOLDERS' FUNDS 91,412 62,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GROVEMILL INVESTMENTS LIMITED (REGISTERED NUMBER: 09426524)

BALANCE SHEET - continued
31 JANUARY 2024


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 Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





Antonio Corricelli - Director


GROVEMILL INVESTMENTS LIMITED (REGISTERED NUMBER: 09426524)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Grovemill 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.


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment properties are accounted for in accordance with the provisions of section 16 of FRS 102. They are valued annually by the directors, and from time to time by an independent professional valuer, on a fair value basis. The surplus or deficit on revaluation is transferred to the income statement. Deferred tax is provided on revaluation gains at the rate expected to apply when the property is sold.

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 balance sheetdate.

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.

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 1,725,000
NET BOOK VALUE
At 31 January 2024 1,725,000
At 31 January 2023 1,725,000

GROVEMILL INVESTMENTS LIMITED (REGISTERED NUMBER: 09426524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2017 7,155
Valuation in 2018 (35,000 )
Valuation in 2019 (205 )
Valuation in 2020 (15,000 )
Valuation in 2021 (25,000 )
Cost 1,793,050
1,725,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Sundry debtors 2,803 2,689

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 1,741 20
Amount owed to group undertaking 1,621,500 1,671,500
Taxation and social security 7,532 3,337
Other creditors 6,935 6,698
1,637,708 1,681,555

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other creditors 2,423 2,423

8. ULTIMATE PARENT COMPANY

The ultimate parent company is Grovemill Management Limited for which the registered office is 13 Queen Annes Grove, London, W5 3XP.


9. GOING CONCERN

The financial statements have been prepared on a going concern basis, which assumes the continued support of the holding company Grovemill Management Limited. The directors do not expect the holding company to withdraw its support in the foreseeable future and therefore the going concern basis is reasonable.