Gryffe Manor Property Group Limited SC656225 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is buying and selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true SC656225 2023-04-01 2024-03-31 SC656225 2024-03-31 SC656225 bus:Director1 1 2024-03-31 SC656225 bus:OrdinaryShareClass1 2024-03-31 SC656225 core:CurrentFinancialInstruments 2024-03-31 SC656225 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC656225 core:Non-currentFinancialInstruments 2024-03-31 SC656225 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 SC656225 core:FurnitureFittings 2024-03-31 SC656225 core:MotorVehicles 2024-03-31 SC656225 core:OfficeEquipment 2024-03-31 SC656225 core:PlantMachinery 2024-03-31 SC656225 bus:SmallEntities 2023-04-01 2024-03-31 SC656225 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC656225 bus:FilletedAccounts 2023-04-01 2024-03-31 SC656225 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC656225 bus:RegisteredOffice 2023-04-01 2024-03-31 SC656225 bus:Director1 2023-04-01 2024-03-31 SC656225 bus:Director1 1 2023-04-01 2024-03-31 SC656225 bus:Director2 2023-04-01 2024-03-31 SC656225 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC656225 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC656225 core:FurnitureFittings 2023-04-01 2024-03-31 SC656225 core:MotorVehicles 2023-04-01 2024-03-31 SC656225 core:OfficeEquipment 2023-04-01 2024-03-31 SC656225 core:PlantMachinery 2023-04-01 2024-03-31 SC656225 core:OtherRelatedParties 2023-04-01 2024-03-31 SC656225 countries:AllCountries 2023-04-01 2024-03-31 SC656225 2023-03-31 SC656225 bus:Director1 1 2023-03-31 SC656225 core:FurnitureFittings 2023-03-31 SC656225 core:MotorVehicles 2023-03-31 SC656225 core:OfficeEquipment 2023-03-31 SC656225 core:PlantMachinery 2023-03-31 SC656225 2022-04-01 2023-03-31 SC656225 2023-03-31 SC656225 bus:Director1 1 2023-03-31 SC656225 bus:OrdinaryShareClass1 2023-03-31 SC656225 core:CurrentFinancialInstruments 2023-03-31 SC656225 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 SC656225 core:Non-currentFinancialInstruments 2023-03-31 SC656225 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 SC656225 core:FurnitureFittings 2023-03-31 SC656225 core:MotorVehicles 2023-03-31 SC656225 core:OfficeEquipment 2023-03-31 SC656225 core:PlantMachinery 2023-03-31 SC656225 bus:Director1 1 2022-04-01 2023-03-31 SC656225 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC656225

Gryffe Manor Property Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Gryffe Manor Property Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Gryffe Manor Property Group Limited

Company Information

Directors

Mrs NR Steele

M Steele

Registered office

7 Hallcraigs Crescent
Houston
Johnstone
PA6 7FA

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Gryffe Manor Property Group Limited

(Registration number: SC656225)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

192,802

1,627

Investment property

5

445,000

445,000

 

637,802

446,627

Current assets

 

Debtors

6

-

160,000

Cash at bank and in hand

 

6,027

-

 

6,027

160,000

Creditors: Amounts falling due within one year

7

(250,905)

(233,909)

Net current liabilities

 

(244,878)

(73,909)

Total assets less current liabilities

 

392,924

372,718

Creditors: Amounts falling due after more than one year

7

(337,609)

(282,801)

Provisions for liabilities

(27,048)

(20,557)

Net assets

 

28,267

69,360

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

28,265

69,358

Shareholders' funds

 

28,267

69,360

 

Gryffe Manor Property Group Limited

(Registration number: SC656225)
Balance Sheet as at 31 March 2024

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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mrs NR Steele
Director

.........................................
M Steele
Director

 

Gryffe Manor Property Group 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 & Wales.

The address of its registered office is:
7 Hallcraigs Crescent
Houston
Johnstone
PA6 7FA
Scotland

These financial statements were authorised for issue by the Board on 30 January 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Gryffe Manor Property Group Limited

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

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.

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

Office Equipment

25% Straight line method

Furniture and fittings

25% Straight line method

Motor vehicles

25% Straight line method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Gryffe Manor Property Group Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Gryffe Manor Property Group Limited

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2023

-

-

2,777

-

Additions

6,000

136,500

-

55,205

At 31 March 2024

6,000

136,500

2,777

55,205

Depreciation

At 1 April 2023

-

-

1,150

-

Charge for the year

125

3,412

693

2,300

At 31 March 2024

125

3,412

1,843

2,300

Carrying amount

At 31 March 2024

5,875

133,088

934

52,905

At 31 March 2023

-

-

1,627

-

Total
£

Cost or valuation

At 1 April 2023

2,777

Additions

197,705

At 31 March 2024

200,482

Depreciation

At 1 April 2023

1,150

Charge for the year

6,530

At 31 March 2024

7,680

Carrying amount

At 31 March 2024

192,802

At 31 March 2023

1,627

5

Investment properties

2024
£

At 1 April

445,000

At 31 March

445,000

There has been no valuation of investment property by an independent valuer.

 

Gryffe Manor Property Group Limited

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

6

Debtors

2024
£

2023
£

Other debtors

-

160,000

-

160,000

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

45,554

73

Trade creditors

 

826

-

Taxation and social security

 

479

433

Accruals and deferred income

 

1,680

1,681

Other creditors

 

202,366

231,722

 

250,905

233,909

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

337,609

282,801

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

296,297

282,801

Other borrowings

41,312

-

337,609

282,801

 

Gryffe Manor Property Group Limited

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

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

73

Other borrowings

45,554

-

45,554

73

10

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mrs NR Steele

Directors loan account

(230,972)

200,670

(171,314)

(201,616)

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mrs NR Steele

Directors loan account

(228,043)

14,878

(17,807)

(230,972)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,109

Summary of transactions with other related parties

Aurum Luxury Residencies Ltd
At the balance sheet date the amount due from Aurum Luxury Residencies Ltd was £nil (2023 : £160,000). N Steele is the director of this company.