Registration number:
Grove House Estates Limited
for the Year Ended 31 July 2024
Grove House Estates Limited
(Registration number: 09595191)
Balance Sheet as at 31 July 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
- |
|
Investment property |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Retained earnings |
|
|
|
Shareholders' funds |
|
|
For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
Grove House Estates Limited
(Registration number: 09595191)
Balance Sheet as at 31 July 2024 (continued)
.........................................
Mr R J Fennell
Director
Grove House Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Accounting policies |
Statutory Information
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Revenue recognition
Turnover comprises rents receivable from tenants in the ordinary course of the company’s activities. Turnover is shown net of management charges.
Tax
The tax expense for the period comprises current 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investment property
Grove House Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Motor vehicles |
Total |
|
Cost |
||
Additions |
|
|
At 31 July 2024 |
|
|
Depreciation |
||
Charge for the year |
|
|
At 31 July 2024 |
|
|
Carrying amount |
||
At 31 July 2024 |
|
|
Investment properties |
2024 |
|
At 1 August 2023 |
|
Disposals |
( |
At 31 July 2024 |
|
Debtors |
2024 |
2023 |
|
Prepayments |
|
|
Other debtors |
|
|
|
|
Grove House Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)
Creditors |
2024 |
2023 |
|
Due within one year |
||
HP and finance lease liabilities |
9,079 |
- |
Director's current account |
|
2,635,353 |
Accrued expenses |
|
26,466 |
Corporation tax |
7,453 |
- |
Deferred income |
- |
3,427 |
2,689,399 |
2,665,246 |
|
Due after one year |
||
Bank borrowings |
300,000 |
200,000 |
HP and finance lease liabilities |
53,772 |
- |
353,772 |
200,000 |
The borrowings are secured against the investment properties held by the company.