1 July 2023 v2025.15.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP096602972023-07-012024-06-30096602972024-06-30096602972023-06-3009660297core:WithinOneYear2024-06-3009660297core:WithinOneYear2023-06-3009660297core:AfterOneYear2024-06-3009660297core:AfterOneYear2023-06-3009660297core:ShareCapital2024-06-3009660297core:ShareCapital2023-06-3009660297core:RetainedEarningsAccumulatedLosses2024-06-3009660297core:RetainedEarningsAccumulatedLosses2023-06-3009660297bus:Director12023-07-012024-06-3009660297bus:RegisteredOffice2023-07-012024-06-30096602972022-07-012023-06-3009660297core:LandBuildings2024-06-3009660297core:LandBuildings2023-06-300966029712023-07-012024-06-3009660297countries:EnglandWales2023-07-012024-06-3009660297bus:AuditExempt-NoAccountantsReport2023-07-012024-06-3009660297bus:PrivateLimitedCompanyLtd2023-07-012024-06-3009660297bus:SmallEntities2023-07-012024-06-3009660297bus:FullAccounts2023-07-012024-06-30
Company registration number:
09660297
GRANDVIEW PROPERTIES LIMITED
Unaudited Filleted Financial Statements for the year ended
30 June 2024
GRANDVIEW PROPERTIES LIMITED
Report to the board of directors on the preparation of the unaudited statutory financial statements of GRANDVIEW PROPERTIES LIMITED
Year ended
30 June 2024
As described on the statement of financial position, the Board of Directors of
GRANDVIEW PROPERTIES LIMITED
are responsible for the preparation of the
financial statements
for the year ended
30 June 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Alpha Omega Group Limited
1 Kings Avenue
London
N21 3NA
United Kingdom
GRANDVIEW PROPERTIES LIMITED
Statement of Financial Position
30 June 2024
20242023
Note££
Fixed assets    
Tangible assets 5
395,000
 
395,000
 
Current assets    
Debtors 6
3,290
 
465
 
Cash at bank and in hand
2,731
 
7,369
 
6,021
 
7,834
 
Creditors: amounts falling due within one year 7
(18,953
)
(13,331
)
Net current liabilities
(12,932
)
(5,497
)
Total assets less current liabilities 382,068   389,503  
Creditors: amounts falling due after more than one year 8
(338,175
)
(338,050
)
Provisions for liabilities
(11,866
)
(11,866
)
Net assets
32,027
 
39,587
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
32,026
 
39,586
 
Shareholders funds
32,027
 
39,587
 
For the year ending
30 June 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • 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 director acknowledges their responsibilities for complying with the requirements of the Act 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, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
21 March 2025
, and are signed on behalf of the board by:
E Demosthenous
Director
Company registration number:
09660297
GRANDVIEW PROPERTIES LIMITED
Notes to the Financial Statements
Year ended
30 June 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
42 Park Road
,
London
,
N8 8TD
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the presentation and functional currency of the company.

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 estimates 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.
There were no judgements and estimates that had significant effect on the amounts recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1
).

5 Tangible assets

Land and buildings
£
Cost  
At
1 July 2023
and
30 June 2024
395,000
 
Depreciation  
At
1 July 2023
and
30 June 2024
-  
Carrying amount  
At
30 June 2024
395,000
 
At 30 June 2023
395,000
 
The fair value of the property at 30 June 2024 has been arrived at on the basis of a valuation carried out at the date by Mrs E Demosthenous, a director of the company who is not a professionally qualified valuer.
The historical cost of the property is £332,546 (2023 - £332,546).

6 Debtors

20242023
££
Trade debtors
3,290
 
465
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
2,845
 
1,479
 
Other creditors
16,108
 
11,852
 
18,953
 
13,331
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
208,175
 
208,050
 
Other creditors
130,000
 
130,000
 
338,175
 
338,050
 
The company took out a loan of £206,000 with Metro bank on 18 May 2018. This is a 25 year interest only loan and interest is charge at 3.39% above the bank base rate. The balance outstanding as at the year end was £208,175. The loan is secured with a first legal charge over the assets of the company.

10 Controlling party

The ultimate controlling party of the company is E Demosthenous.