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Registration number: 11530595


North Grandview Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

North Grandview Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

North Grandview Limited

Company Information

Directors

Mr V Hanaray

Mr A J Simister

Registered office

Alverne House
113 Victoria Street
Hartshill
Stoke on Trent
Staffordshire
ST4 6EU

Accountants

Howsons (Stoke) Limited
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

North Grandview Limited

(Registration number: 11530595)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,146

6,979

Investment property

5

860,606

860,606

 

865,752

867,585

Current assets

 

Debtors

6

487

450

Cash at bank and in hand

 

17,909

8,589

 

18,396

9,039

Creditors: Amounts falling due within one year

7

(173,842)

(176,894)

Net current liabilities

 

(155,446)

(167,855)

Total assets less current liabilities

 

710,306

699,730

Creditors: Amounts falling due after more than one year

7

(593,535)

(593,470)

Provisions for liabilities

(15,269)

(15,269)

Net assets

 

101,502

90,991

Capital and reserves

 

Called up share capital

1

1

Other reserves

65,093

65,093

Retained earnings

36,408

25,897

Shareholders' funds

 

101,502

90,991

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

North Grandview Limited

(Registration number: 11530595)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 10 January 2025 and signed on its behalf by:
 

.........................................
Mr V Hanaray
Director

 

North Grandview Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Alverne House
113 Victoria Street
Hartshill
Stoke on Trent
Staffordshire
ST4 6EU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

North Grandview Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

North Grandview Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

2,500

7,553

10,053

At 31 March 2024

2,500

7,553

10,053

Depreciation

At 1 April 2023

1,563

1,511

3,074

Charge for the year

625

1,208

1,833

At 31 March 2024

2,188

2,719

4,907

Carrying amount

At 31 March 2024

312

4,834

5,146

At 31 March 2023

937

6,042

6,979

5

Investment properties

2024
£

At 1 April 2023 and 31 March 2024

860,606

6

Debtors

2024
£

2023
£

Prepayments

487

450

 

North Grandview Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Other creditors

 

11,133

7,902

Director's loan account

 

162,709

168,992

 

173,842

176,894

Due after one year

 

Loans and borrowings

8

593,535

593,470

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

593,535

593,470

Bank borrowings are secured by a charge over the company assets.