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REGISTERED NUMBER: 07601483 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

GRANGEWOOD (CORNWALL) LIMITED

GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRANGEWOOD (CORNWALL) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: S Sutton
J M Sutton





REGISTERED OFFICE: The Treguth Inn
Holywell Bay
Newquay
Cornwall
TR8 5PP





REGISTERED NUMBER: 07601483 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 9,631 10,830
Investments 6 8,250 8,250
17,881 19,080

CURRENT ASSETS
Stocks 7,650 4,823
Debtors 7 - 2,020
Cash at bank and in hand 43,986 72,796
51,636 79,639
CREDITORS
Amounts falling due within one year 8 68,420 78,019
NET CURRENT (LIABILITIES)/ASSETS (16,784 ) 1,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,097

20,700

CREDITORS
Amounts falling due after more than one
year

9

(3,250

)

(6,250

)

PROVISIONS FOR LIABILITIES (1,830 ) (1,890 )
NET (LIABILITIES)/ASSETS (3,983 ) 12,560

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings (4,082 ) 12,461
SHAREHOLDERS' FUNDS (3,983 ) 12,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

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

GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)

BALANCE SHEET - continued
30 APRIL 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 25 November 2024 and were signed on its behalf by:





S Sutton - Director


GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Grangewood (Cornwall) 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 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 sales of alcoholic beverages and food, excluding value added tax. Turnover is recognised at the point of sale in the public house.

Goodwill
Goodwill, being the amount valued in connection with the purchase of a business in 2011, has been amortised evenly over its estimated useful life of twelve years. Twelve years being the number of years remaining on the lease at acquisition. The director's estimation of useful life is based upon the character and location of the public house.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 12 years
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 37,500
AMORTISATION
At 1 May 2023
and 30 April 2024 37,500
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 31,874 30,807 1,741 64,422
Additions - 1,559 - 1,559
At 30 April 2024 31,874 32,366 1,741 65,981
DEPRECIATION
At 1 May 2023 30,989 21,099 1,504 53,592
Charge for year 885 1,690 183 2,758
At 30 April 2024 31,874 22,789 1,687 56,350
NET BOOK VALUE
At 30 April 2024 - 9,577 54 9,631
At 30 April 2023 885 9,708 237 10,830

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.4.24 30.4.23
£    £   
Rent bond 8,250 8,250

GRANGEWOOD (CORNWALL) LIMITED (REGISTERED NUMBER: 07601483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. FIXED ASSET INVESTMENTS - continued

The fixed asset investment represents a rent bond paid to the brewery upon entering into an lease with them. This bond is returnable at the end of the lease term, during which the bond will earn investment income in the form of interest.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Corporation tax - 2,020

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 3,000 4,637
Trade creditors - 3,100
Social security and other taxes 5,036 6,163
Other creditors 283 291
Barclaycard creditor 693 561
Directors' current accounts 57,631 61,592
Accrued expenses 1,777 1,675
68,420 78,019

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1-2 years 3,250 6,250

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 6,250 10,887

The Barclays loan is secured by way of the directors giving personal guarantees for the security of the loan.

11. ULTIMATE CONTROLLING PARTY

During the period, the company was controlled by Mr S Sutton, by virtue of the fact that he owns 66.66% of the company's issued Ordinary share capital.