REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST JANUARY 2023 TO 31ST MARCH 2024 |
FOR |
GROSVENOR VILLAS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST JANUARY 2023 TO 31ST MARCH 2024 |
FOR |
GROSVENOR VILLAS LTD |
GROSVENOR VILLAS LTD (REGISTERED NUMBER: 11726273) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1st January 2023 to 31st March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GROSVENOR VILLAS LTD |
COMPANY INFORMATION |
for the Period 1st January 2023 to 31st March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
GROSVENOR VILLAS LTD (REGISTERED NUMBER: 11726273) |
BALANCE SHEET |
31st March 2024 |
2024 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Fair value reserve | 9 |
Retained earnings | 9 | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
GROSVENOR VILLAS LTD (REGISTERED NUMBER: 11726273) |
BALANCE SHEET - continued |
31st March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GROSVENOR VILLAS LTD (REGISTERED NUMBER: 11726273) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1st January 2023 to 31st March 2024 |
1. | STATUTORY INFORMATION |
Grosvenor Villas Ltd is a private company limited by share capital, incorporated in England & Wales registration number 11726273. The address of the principal place of business and the registered office is Plot 0, James Nasmyth Way, Eccles, Manchester, M30 0SF. |
2. | ACCOUNTING POLICIES |
Going concern |
The concept of going concern is an underlying assumption in the production of financial statements. As there are considerable net liabilities there is a question mark over going concern. Although there is no formal |
agreement in place the directors has indicated they will continue to provide financial support to the company |
for at least the next 12 months. |
Turnover |
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the provision of vehicle refinisher services, which are recognised at the point of which the services are provided. |
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. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 period 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. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents comprise of cash at bank and in hand. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
GROSVENOR VILLAS LTD (REGISTERED NUMBER: 11726273) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1st January 2023 to 31st March 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
Revaluations | 244,281 |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
Fair value at 31st March 2024 is represented by: |
£ |
Valuation in 2024 | 244,281 |
Cost | 887,437 |
1,131,718 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans |
8. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 2024 | 2022 |
value: | £ | £ |
Share capital 1 | 1 | 1 | 1 |
GROSVENOR VILLAS LTD (REGISTERED NUMBER: 11726273) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1st January 2023 to 31st March 2024 |
9. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1st January 2023 | 69,606 |
Profit for the period |
Transfer between reserves | (183,210 | ) | 183,210 | - |
At 31st March 2024 | ( |
) | 160,133 |
10. | RELATED PARTY DISCLOSURES |
Included in other debtors are loans due from companies under common control, amounting to: £ 82,900 (2023: £82,900). |