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Registered number: 11606963









EAST GRINSTEAD LAND LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
EAST GRINSTEAD LAND LIMITED
REGISTERED NUMBER: 11606963

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
579,846
541,788

Debtors: amounts falling due within one year
 4 
749
1,951

Cash at bank and in hand
 5 
28
415

  
580,623
544,154

Creditors: amounts falling due within one year
 6 
(11,684)
(9,316)

Net current assets
  
 
 
568,939
 
 
534,838

Total assets less current liabilities
  
568,939
534,838

Creditors: amounts falling due after more than one year
 7 
(576,776)
(547,283)

  

Net liabilities
  
(7,837)
(12,445)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(7,937)
(12,545)

  
(7,837)
(12,445)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
EAST GRINSTEAD LAND LIMITED
REGISTERED NUMBER: 11606963
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 April 2025.




L. J. Murphy
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
EAST GRINSTEAD LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

East Grinstead Land Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

These accounts have been prepared on the going concern basis. The directors/ shareholders have expressed a commitment to continue to support the company financially.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue represents professional servces regarding property sales.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.6

Stocks

Stock represents initial development costs for 70-72 London Road East Grinstead. 

 
2.7

Debtors

Short-term debtors are measured at transaction price.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 3

 
EAST GRINSTEAD LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.



3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 2).


4.


Debtors

2024
2023
£
£


Whitgift Estates (Phoenix House) Limited
-
1,795

VAT Repayable
749
156

749
1,951



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank
28
415

28
415


Page 4

 
EAST GRINSTEAD LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
9,175
6,816

Whitgift Estates Limited
15
-

Whitgift Estates (Phoenix House) Limited
244
-

Accruals
2,250
2,500

11,684
9,316



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Lendnet Property LLP
354,776
325,283

Kudos Property Holdings Limited
222,000
222,000

576,776
547,283


The loan from LendNet LLP attracts interest at 8.75% pa. Interest is accrued over the period of the loan. The loan is repayable as the units are sold.
The loan is secured by a first charge over the freehold land and buildings known as 70-72 London Road, East Grinstead RH19 1AB.
The loan from Kudos Property Holdings Limited (KPHL) will be repaid after all other loans are repaid but prior to the distribution of any profits to shareholders.


8.


Related party transactions

During the year, the company received loans from two related companies, Whitgift Estates Limited (WEL) and Whitgift Estates (Phoenix House) Limited (WEPHL) to fund costs. At the year end, the balance due to WEL was £15 (2023 - £Nil) and  WEPHL £244 (2023 - £1,795 balance due from WEPHL).
The loans are interest fee..

 
Page 5