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REGISTERED NUMBER: 01785466 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Ground Rents (Sussex) Limited

Ground Rents (Sussex) Limited (Registered number: 01785466)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ground Rents (Sussex) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M A Wilkins
Mrs J M Hurrell





SECRETARY: M A Wilkins





REGISTERED OFFICE: 10 English Business Park
English Close
Hove
East Sussex
BN3 7ET





REGISTERED NUMBER: 01785466 (England and Wales)





ACCOUNTANTS: AJ Wheeler Limited
338 London Road
Portsmouth
Hampshire
PO2 9JY

Ground Rents (Sussex) Limited (Registered number: 01785466)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 61,657 61,846

CURRENT ASSETS
Stocks 23,267 19,620
Debtors 5 129,687 281,484
Cash at bank 6,065 10,689
159,019 311,793
CREDITORS
Amounts falling due within one year 6 16,629 18,888
NET CURRENT ASSETS 142,390 292,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

204,047

354,751

PROVISIONS FOR LIABILITIES 370 370
NET ASSETS 203,677 354,381

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 203,577 354,281
203,677 354,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 31 December 2024 and were signed on its behalf by:





M A Wilkins - Director


Ground Rents (Sussex) Limited (Registered number: 01785466)

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

1. STATUTORY INFORMATION

Ground Rents (Sussex) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

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

Ground Rents (Sussex) Limited (Registered number: 01785466)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 60,585 3,151 63,736
DEPRECIATION
At 1 April 2023 - 1,890 1,890
Charge for year - 189 189
At 31 March 2024 - 2,079 2,079
NET BOOK VALUE
At 31 March 2024 60,585 1,072 61,657
At 31 March 2023 60,585 1,261 61,846

Freehold properties are reported at historic cost. The market value of these assets is in excess of historic cost but no revaluation has at present been undertaken.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 33,701 18,291
Amounts due from Associates 80,800 246,707
Other debtors 15,186 16,486
129,687 281,484

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1 1
Taxation and social security 7,948 8,707
Other creditors 8,680 10,180
16,629 18,888

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have been advanced interest free loans by the company, the maximum value of these advances amounted to:
For M W Wilkins £7340 debtor (£7990 debtor 2023)
For Mrs J M Hurrell £7845 debtor (£8495 debtor 2023)

8. RELATED PARTY DISCLOSURES

This company has provided an associate company Sussex Bikes Limited with finance, presently on an interest free basis.
The value of these loan as of the balance sheet date amounted to

Sussex Bikes Limited £61300 debtor (£61300 debtor 2023)