Grace Land (Swain) Limited 15257876 false 2023-11-03 2024-06-30 2024-06-30 The principal activity of the company is of a public house. Digita Accounts Production Advanced 6.30.9574.0 true false true 15257876 2023-11-03 2024-06-30 15257876 2024-06-30 15257876 bus:Director2 1 2024-06-30 15257876 bus:OrdinaryShareClass1 2024-06-30 15257876 core:CurrentFinancialInstruments 2024-06-30 15257876 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 15257876 core:FurnitureFittingsToolsEquipment 2024-06-30 15257876 core:LandBuildings 2024-06-30 15257876 bus:SmallEntities 2023-11-03 2024-06-30 15257876 bus:AuditExemptWithAccountantsReport 2023-11-03 2024-06-30 15257876 bus:FilletedAccounts 2023-11-03 2024-06-30 15257876 bus:SmallCompaniesRegimeForAccounts 2023-11-03 2024-06-30 15257876 bus:RegisteredOffice 2023-11-03 2024-06-30 15257876 bus:Director1 2023-11-03 2024-06-30 15257876 bus:Director2 2023-11-03 2024-06-30 15257876 bus:Director2 1 2023-11-03 2024-06-30 15257876 bus:OrdinaryShareClass1 2023-11-03 2024-06-30 15257876 bus:PrivateLimitedCompanyLtd 2023-11-03 2024-06-30 15257876 core:ComputerEquipment 2023-11-03 2024-06-30 15257876 core:FurnitureFittings 2023-11-03 2024-06-30 15257876 core:FurnitureFittingsToolsEquipment 2023-11-03 2024-06-30 15257876 core:LandBuildings 2023-11-03 2024-06-30 15257876 core:LeaseholdImprovements 2023-11-03 2024-06-30 15257876 1 2023-11-03 2024-06-30 15257876 countries:England 2023-11-03 2024-06-30 15257876 bus:Director2 1 2023-11-02 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 15257876

Grace Land (Swain) Limited

Unaudited Filleted Financial Statements

for the Period from 3 November 2023 to 30 June 2024

 

Grace Land (Swain) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Grace Land (Swain) Limited

Company Information

Directors

Anselm Chatwin

Jon Andreas Akerlund

Registered office

The Axe
18 Northwold Road
London
N16 7HR

Accountants

Carbon Accountancy Limited
Chartered Accountants
80-83 Long Lane
London
EC1A 9ET

 

Grace Land (Swain) Limited

(Registration number: 15257876)
Balance Sheet as at 30 June 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

411,491

Current assets

 

Stocks

5

16,018

Debtors

6

112,050

Cash at bank and in hand

 

3,171

 

131,239

Creditors: Amounts falling due within one year

7

(571,930)

Net current liabilities

 

(440,691)

Net liabilities

 

(29,200)

Capital and reserves

 

Called up share capital

8

1

Retained earnings

(29,201)

Shareholders' deficit

 

(29,200)

For the financial period ending 30 June 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 period 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 24 March 2025 and signed on its behalf by:
 

.........................................
Anselm Chatwin
Director

 

Grace Land (Swain) Limited

Notes to the Unaudited Financial Statements for the Period from 3 November 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Axe
18 Northwold Road
London
N16 7HR

These financial statements were authorised for issue by the Board on 24 March 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue is recognised when bar and food products are served to customers, after deducting discounts and sales-based taxes. Deposits received in respect of advanced bookings are deferred until the relevant services are provided.

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

Leasehold property

5% straightline basis

Leasehold improvements

5% straightline basis

Furniture and fittings

20% straightline basis

Computer equipment

25% straightline basis

 

Grace Land (Swain) Limited

Notes to the Unaudited Financial Statements for the Period from 3 November 2023 to 30 June 2024

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

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 period, was 13.

 

Grace Land (Swain) Limited

Notes to the Unaudited Financial Statements for the Period from 3 November 2023 to 30 June 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

320,842

103,729

424,571

At 30 June 2024

320,842

103,729

424,571

Depreciation

Charge for the period

6,684

6,396

13,080

At 30 June 2024

6,684

6,396

13,080

Carrying amount

At 30 June 2024

314,158

97,333

411,491

Included within the net book value of land and buildings above is £314,157 in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

Other inventories

16,018

 

Grace Land (Swain) Limited

Notes to the Unaudited Financial Statements for the Period from 3 November 2023 to 30 June 2024

6

Debtors

Current

2024
£

Trade debtors

13,512

Amounts owed by group undertakings

30,049

Prepayments

24,489

Other debtors

44,000

 

112,050

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

114,674

Amounts owed to group undertakings

325,523

Taxation and social security

43,994

Accruals and deferred income

40,396

Other creditors

47,343

571,930

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

1

1

   
 

Grace Land (Swain) Limited

Notes to the Unaudited Financial Statements for the Period from 3 November 2023 to 30 June 2024

9

Related party transactions

Transactions with directors

2024

At 3 November 2023
£

Advances to director
£

At 30 June 2024
£

Jon Andreas Akerlund

Amount owed from/(to)

-

(46,246)

(46,246)

Summary of transactions with other related parties

At the balance sheet date amount due from/(to) related parties (fellow subsidiaries & the Parent entity) are as follows:

Grace Land Group Limited: (£301,692) (2023: N/A)
Grace Land (Dalston) Limited: £5,200 (2023: N/A)
Grace Land (Stoke Newington) Limited: £11,606 (2023: N/A)
Grace Land (Bethnal) Limited: £4,000 (2023: N/A)
London Fields Brewery Opco Limited: £9,243 (2023: N/A)
Grace Land (Islington) Limited: (£11,792) (2023: N/A)
Grace Land (Bethnal Green) : (£1,245) (2023: N/A)
Grace Land (Camden) Limited: (£10,797) (2023: N/A)

These loan are unsecured,interest free and repayable on demand.

10

Parent and ultimate parent undertaking

The company's immediate parent is Grace Land Group Limited, incorporated in England.