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REGISTERED NUMBER: SC241318 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

GRANVILLE PROPERTIES (ABERDEEN)
LIMITED

GRANVILLE PROPERTIES (ABERDEEN)
LIMITED (REGISTERED NUMBER: SC241318)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 8

GRANVILLE PROPERTIES (ABERDEEN)
LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: Mr A Cumming
Mrs K Cumming
Miss H Cumming
Mrs E Macintosh
Mrs A Ross





SECRETARY: Mr A Cumming





REGISTERED OFFICE: 10 Granville Place
Aberdeen
AB10 6NZ





REGISTERED NUMBER: SC241318 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

GRANVILLE PROPERTIES (ABERDEEN)
LIMITED (REGISTERED NUMBER: SC241318)

STATEMENT OF FINANCIAL POSITION
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57,024 11,091
Investment property 5 1,555,000 1,575,000
1,612,024 1,586,091

CURRENT ASSETS
Debtors 6 1,008 928
Cash at bank 45,885 37,485
46,893 38,413
CREDITORS
Amounts falling due within one year 7 313,420 312,939
NET CURRENT LIABILITIES (266,527 ) (274,526 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,345,497

1,311,565

CREDITORS
Amounts falling due after more than one year 8 (209,111 ) (193,848 )

PROVISIONS FOR LIABILITIES 11 (63,188 ) (53,253 )
NET ASSETS 1,073,198 1,064,464

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 12 488,354 506,477
Retained earnings 12 584,744 557,887
SHAREHOLDERS' FUNDS 1,073,198 1,064,464

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.

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 23 January 2025 and were signed on its behalf by:



Mr A Cumming - Director


GRANVILLE PROPERTIES (ABERDEEN)
LIMITED (REGISTERED NUMBER: SC241318)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Granville Properties (Aberdeen) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

The assets residual lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Investment property
Investment properties are included at fair values. Gains are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

GRANVILLE PROPERTIES (ABERDEEN)
LIMITED (REGISTERED NUMBER: SC241318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 13,144 7,597 70,630 2,276 93,647
Additions - - 54,090 - 54,090
Disposals - - (70,630 ) - (70,630 )
At 30 April 2024 13,144 7,597 54,090 2,276 77,107
DEPRECIATION
At 1 May 2023 7,278 3,091 70,630 1,557 82,556
Charge for year 1,315 759 5,634 449 8,157
Eliminated on disposal - - (70,630 ) - (70,630 )
At 30 April 2024 8,593 3,850 5,634 2,006 20,083
NET BOOK VALUE
At 30 April 2024 4,551 3,747 48,456 270 57,024
At 30 April 2023 5,866 4,506 - 719 11,091

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 1,575,000
Revaluations (20,000 )
At 30 April 2024 1,555,000
NET BOOK VALUE
At 30 April 2024 1,555,000
At 30 April 2023 1,575,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2015 754,384
Valuation in 2016 10,040
Valuation in 2017 (32,000 )
Valuation in 2018 (30,000 )
Valuation in 2019 (84,000 )
Valuation in 2022 (60,000 )
Valuation in 2024 (20,000 )
Cost 1,016,576
1,555,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,016,576 1,016,576

Investment properties were valued on an open market basis on 30 April 2023 by the directors .

GRANVILLE PROPERTIES (ABERDEEN)
LIMITED (REGISTERED NUMBER: SC241318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income - 928
Prepayments 1,008 -
1,008 928

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 13,127 13,629
Hire purchase contracts 8,964 -
Tax 4,752 14,493
Directors' current accounts 286,577 284,817
313,420 312,939

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 185,208 193,848
Hire purchase contracts 23,903 -
209,111 193,848

Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years 126,251 135,799

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank term loan 13,127 13,629

Amounts falling due between two and five years:
Bank loans - 2-5 years 58,957 58,049

Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years 126,251 135,799

GRANVILLE PROPERTIES (ABERDEEN)
LIMITED (REGISTERED NUMBER: SC241318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 198,335 207,477

The loan is secured by:

Standard Security by Bank of Scotland over subjects 27B Raeburn Place, Aberdeen, AB25 1PS.

Standard Security by Bank of Scotland over subjects 39 and 41 Spital, Aberdeen, AB24 3HX.

Standard Security by Bank of Scotland over subjects 135 Dalkeith Road, Edinburgh, EH16 5AH.

Standard Security by Bank of Scotland over subjects 29 Hollybank Place, Aberdeen, AB11 6XR.

Standard Security by Bank of Scotland over subjects 35, 37 and 37A Spital, Aberdeen, AB24 3HX.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 63,188 53,253

Deferred
tax
£   
Balance at 1 May 2023 53,253
Provided during year 9,935
Movement
Balance at 30 April 2024 63,188

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 May 2023 557,887 506,477 1,064,364
Profit for the year 67,933 67,933
Dividends (41,076 ) (41,076 )
Revaluation - (18,123 ) (18,123 )
At 30 April 2024 584,744 488,354 1,073,098

GRANVILLE PROPERTIES (ABERDEEN)
LIMITED (REGISTERED NUMBER: SC241318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr A Cumming
Balance outstanding at start of year (284,817 ) (286,987 )
Amounts advanced - 2,170
Amounts repaid (824 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (285,641 ) (284,817 )

Miss H Cumming
Balance outstanding at start of year - -
Amounts repaid (312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (312 ) -

Mrs E Macintosh
Balance outstanding at start of year - -
Amounts repaid (312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (312 ) -

Mrs A Ross
Balance outstanding at start of year - -
Amounts repaid (312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (312 ) -

This loan is interest-free and unsecured, with no fixed terms of repayment.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GRANVILLE PROPERTIES (ABERDEEN)
LIMITED (REGISTERED NUMBER: SC241318)

The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Granville Properties (Aberdeen) Limited for the year ended 30 April 2024 which comprise the Income Statement, Statement of Financial Position, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Granville Properties (Aberdeen) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Granville Properties (Aberdeen) Limited and state those matters that we have agreed to state to the Board of Directors of Granville Properties (Aberdeen) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Granville Properties (Aberdeen) 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 Granville Properties (Aberdeen) Limited. You consider that Granville Properties (Aberdeen) 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 Granville Properties (Aberdeen) 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.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


23 January 2025