Graceheath (2) Limited 06627020 true 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Buying and selling own real estate Digita Accounts Production Advanced 6.30.9574.0 true Mr Moti Friedlander 06627020 2023-07-01 2024-06-30 06627020 2024-06-30 06627020 core:RetainedEarningsAccumulatedLosses 2024-06-30 06627020 core:ShareCapital 2024-06-30 06627020 core:CurrentFinancialInstruments 2024-06-30 06627020 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 06627020 core:LandBuildings 2024-06-30 06627020 bus:FRS102 2023-07-01 2024-06-30 06627020 bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 06627020 bus:FullAccounts 2023-07-01 2024-06-30 06627020 bus:RegisteredOffice 2023-07-01 2024-06-30 06627020 bus:Director1 2023-07-01 2024-06-30 06627020 bus:EntityNoLongerTradingButTradedInPast 2023-07-01 2024-06-30 06627020 bus:Consolidated 2023-07-01 2024-06-30 06627020 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06627020 core:FurnitureFittings 2023-07-01 2024-06-30 06627020 countries:EnglandWales 2023-07-01 2024-06-30 06627020 2023-06-30 06627020 core:LandBuildings 2023-06-30 06627020 2022-07-01 2023-06-30 06627020 2023-06-30 06627020 core:RetainedEarningsAccumulatedLosses 2023-06-30 06627020 core:ShareCapital 2023-06-30 06627020 core:CurrentFinancialInstruments 2023-06-30 06627020 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 06627020 core:LandBuildings 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 06627020

Graceheath (2) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Graceheath (2) Limited

Profit and Loss Account for the Year Ended 30 June 2024

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Graceheath (2) Limited

(Registration number: 06627020)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

50,000

50,000

Current assets

 

Debtors

4

156,147

200,631

Cash at bank and in hand

 

724

6,760

 

156,871

207,391

Creditors: Amounts falling due within one year

6

(70,567)

(121,087)

Net current assets

 

86,304

86,304

Net assets

 

136,304

136,304

Capital and reserves

 

Called up share capital

1

1

Retained earnings

136,303

136,303

Shareholders' funds

 

136,304

136,304

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 27 March 2025
 

.........................................
Mr Moti Friedlander
Director

 

Graceheath (2) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
8 Rodborough Road
London
London
NW11 8RY
United Kingdom

The principal place of business is:
24 Stamford Hill
London
N16 6XZ
United Kingdom

These financial statements were authorised for issue by the director on 27 March 2025.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2023

50,000

50,000

At 30 June 2024

50,000

50,000

Depreciation

Carrying amount

At 30 June 2024

50,000

50,000

At 30 June 2023

50,000

50,000

Included within the net book value of land and buildings above is £50,000 (2023 - £50,000) in respect of freehold land and buildings.
 

4

Debtors

Current

2024
£

2023
£

Other debtors

156,147

200,631

 

156,147

200,631

 

Graceheath (2) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Cash and cash equivalents

2024
£

2023
£

Cash at bank

724

6,760

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

21,103

23,300

Amounts due to related parties

17,599

65,922

Accruals

 

11,000

11,000

Income tax liability

20,865

20,865

 

70,567

121,087

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

21,103

23,300

8

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.

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.

 

Graceheath (2) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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

Fixtures & Fittings

15% reducing balance

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.

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.