Company registration number 13396774 (England and Wales)
Grange Well Properties Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 May 2024
PAGES FOR FILING WITH REGISTRAR
Grange Well Properties Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Grange Well Properties Limited
Statement Of Financial Position
as at 31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
68,774
68,775
Current assets
Cash at bank and in hand
9,053
7,443
Creditors: amounts falling due within one year
(22,811)
(23,381)
Net current liabilities
(13,758)
(15,938)
Total assets less current liabilities
55,016
52,837
Creditors: amounts falling due after more than one year
(49,105)
(49,105)
Net assets
5,911
3,732
Capital and reserves
Called up share capital
150
150
Profit and loss reserves
5,761
3,582
Total equity
5,911
3,732
Grange Well Properties Limited
Statement Of Financial Position (continued)
as at 31 May 2024
- 2 -
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 19 February 2025 and are signed on its behalf by:
J A Simpson
Director
Company registration number 13396774 (England and Wales)
Grange Well Properties Limited
Notes to the financial statements
for the year ended 31 May 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of rental income received in the normal course of business.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
Grange Well Properties Limited
Notes to the financial statements (continued)
for the year ended 31 May 2024
- 4 -
4
Investment property
2024
£
Fair value
At 1 June 2023 and 31 May 2024
68,774
5
Company information
Grange Well Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.