IRIS Accounts Production v24.2.0.383 03898521 director 1.10.23 30.9.24 30.9.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh038985212023-09-30038985212024-09-30038985212023-10-012024-09-30038985212022-09-30038985212022-10-012023-09-30038985212023-09-3003898521ns15:EnglandWales2023-10-012024-09-3003898521ns14:PoundSterling2023-10-012024-09-3003898521ns10:Director12023-10-012024-09-3003898521ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3003898521ns10:SmallEntities2023-10-012024-09-3003898521ns10:AuditExemptWithAccountantsReport2023-10-012024-09-3003898521ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3003898521ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3003898521ns10:FullAccounts2023-10-012024-09-3003898521ns10:CompanySecretary12023-10-012024-09-3003898521ns10:RegisteredOffice2023-10-012024-09-3003898521ns5:CurrentFinancialInstruments2024-09-3003898521ns5:CurrentFinancialInstruments2023-09-3003898521ns5:ShareCapital2024-09-3003898521ns5:ShareCapital2023-09-3003898521ns5:FurtherSpecificReserve1ComponentTotalEquity2024-09-3003898521ns5:FurtherSpecificReserve1ComponentTotalEquity2023-09-3003898521ns5:RetainedEarningsAccumulatedLosses2024-09-3003898521ns5:RetainedEarningsAccumulatedLosses2023-09-3003898521ns5:PlantMachinery2023-10-012024-09-3003898521ns5:FurnitureFittings2023-10-012024-09-3003898521ns5:PlantMachinery2023-09-3003898521ns5:FurnitureFittings2023-09-3003898521ns5:PlantMachinery2024-09-3003898521ns5:FurnitureFittings2024-09-3003898521ns5:PlantMachinery2023-09-3003898521ns5:FurnitureFittings2023-09-3003898521ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3003898521ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-300389852112023-10-012024-09-30
















GRAND UNION TWYMILL DEVELOPMENTS LIMITED

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH SEPTEMBER 2024






GRAND UNION TWYMILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03898521)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5

Accountants' Report 8

GRAND UNION TWYMILL DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTOR: S C Lousada



SECRETARY: S A Hunt



REGISTERED OFFICE: The Estate Office
Oakley House
Oakley
Bedfordshire
MK43 7ST



REGISTERED NUMBER: 03898521 (England and Wales)



ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN



SOLICITORS: Woodfines
16 St Cuthberts Street
Bedford
MK40 9JG

GRAND UNION TWYMILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03898521)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

The director presents his report with the financial statements of the company for the year ended 30th September 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of property management.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR
S C Lousada held office during the whole of the period from 1st October 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S C Lousada - Director


18th December 2024

GRAND UNION TWYMILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03898521)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,528 2,039
Investment property 5 4,130,000 3,000,000
4,131,528 3,002,039

CURRENT ASSETS
Debtors 6 134,075 96,953
Cash at bank 84,942 179,592
219,017 276,545
CREDITORS
Amounts falling due within one year 7 303,686 220,202
NET CURRENT (LIABILITIES)/ASSETS (84,669 ) 56,343
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,046,859

3,058,382

PROVISIONS FOR LIABILITIES 711,053 462,199
NET ASSETS 3,335,806 2,596,183

CAPITAL AND RESERVES
Called up share capital 12,000 12,000
Non-distributable retained earnings 2,630,767 1,858,683
Retained earnings 693,039 725,500
SHAREHOLDERS' FUNDS 3,335,806 2,596,183

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 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.

GRAND UNION TWYMILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03898521)

BALANCE SHEET - continued
30TH SEPTEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th December 2024 and were signed by:





S C Lousada - Director


GRAND UNION TWYMILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03898521)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Grand Union Twymill Developments 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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents rents and service charges receivable from tenants of investment properties, stated net of value added tax.

Income received that relates to a period after the year end is treated as deferred income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. A formal valuation has taken place during the year by a professional independent valuer. The current fair value is based on a recognised valuation 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 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.

GRAND UNION TWYMILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03898521)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st October 2023
and 30th September 2024 4,995 110,650 115,645
DEPRECIATION
At 1st October 2023 4,898 108,708 113,606
Charge for year 24 487 511
At 30th September 2024 4,922 109,195 114,117
NET BOOK VALUE
At 30th September 2024 73 1,455 1,528
At 30th September 2023 97 1,942 2,039

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023 3,000,000
Additions 109,061
Revaluations 1,020,939
At 30th September 2024 4,130,000
NET BOOK VALUE
At 30th September 2024 4,130,000
At 30th September 2023 3,000,000

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2011 1,120,881
Valuation in 2012 200,000
Valuation in 2016 (250,000 )
Valuation in 2020 150,000
Valuation in 2022 350,000
Valuation in 2023 750,000
Valuation in 2024 1,020,939
Cost 788,180
4,130,000

GRAND UNION TWYMILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03898521)

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

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 788,180 679,119

A formal independent valuation was carried out on 24th October 2024 by Messrs Lambert Smith Hampton. The investment property is stated at fair value based on a suitable valuation model.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 121,950 135,877
Doubtful debt provision (71,913 ) (71,913 )
Other debtors 30,060 1,000
VAT 472 -
Prepayments & accrued income 53,506 31,989
134,075 96,953

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,725 8,262
Amounts owed to group undertakings 231,573 171,573
Social security and other taxes 121 104
VAT - 2,219
Other creditors 6,750 6,750
Accruals and deferred income 54,517 31,294
303,686 220,202

8. POST BALANCE SHEET EVENTS

On 15th November 2024 the company granted a charge over its investment property to the bankers of Lousada plc, a company controlled by common directors.

9. ULTIMATE PARENT COMPANY

The ultimate parent company at the balance sheet date was Lousada Investment Holdings Limited. Their registered office is Estate Office, Oakley House, Oakley, Bedfordshire MK43 7ST.

Copies of the consolidated financial statements of Lousada Investment Holdings Limited are available from Companies House.

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GRAND UNION TWYMILL DEVELOPMENTS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Grand Union Twymill Developments Limited for the year ended 30th September 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Grand Union Twymill Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Grand Union Twymill Developments Limited and state those matters that we have agreed to state to the director of Grand Union Twymill Developments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grand Union Twymill Developments Limited and its director for our work or for this report.

It is your duty to ensure that Grand Union Twymill Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Grand Union Twymill Developments Limited. You consider that Grand Union Twymill Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Grand Union Twymill Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


2nd January 2025