Registered number
05448744
Grand County Investments Limited
Filleted Accounts
31 May 2024
Grand County Investments Limited
Registered number: 05448744
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 306,820 307,403
Current assets
Cash at bank and in hand 132 606
Creditors: amounts falling due within one year 4 - (1,435)
Net current assets/(liabilities) 132 (829)
Total assets less current liabilities 306,952 306,574
Creditors: amounts falling due after more than one year 5 (127,810) (79,366)
Net assets 179,142 227,208
Capital and reserves
Called up share capital 4 4
Profit and loss account 179,138 227,204
Shareholders' funds 179,142 227,208
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Oliver
Director
Approved by the board on 17 January 2025
Grand County Investments Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Fixtures, fittings, tools and equipment Total
£ £ £
Cost
At 1 June 2023 305,652 2,917 308,569
At 31 May 2024 305,652 2,917 308,569
Depreciation
At 1 June 2023 - 1,166 1,166
Charge for the year - 583 583
At 31 May 2024 - 1,749 1,749
Net book value
At 31 May 2024 305,652 1,168 306,820
At 31 May 2023 305,652 1,751 307,403
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 1,435
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 127,810 79,366
6 Other information
Grand County Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
16 Collingwood Close
Horley
Surrey
RH6 9LH
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