Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
|
|
|
50 | 50 | |||
Current assets | ||||
Debtors | 4 |
|
|
|
Cash at bank and in hand |
|
|
||
329,732 | 171,462 | |||
Creditors: amounts falling due within one year | 5 | (
|
(
|
|
Net current assets | 213,372 | 135,911 | ||
Total assets less current liabilities | 213,422 | 135,961 | ||
Creditors: amounts falling due after more than one year | 6 | (
|
(
|
|
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 7 |
|
|
|
Share premium account |
|
|
||
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of GRT Land Advance Limited (registered number:
Mrs R Fincham
Director |
Mr G R Fincham
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
GRT Land Advance Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom. The principal place of business is 1 Fairmantle Street, Truro, Cornwall, TR1 2LP.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Investments in associates | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 July 2023 |
|
|
|
At 30 June 2024 |
|
|
|
Carrying value at 30 June 2024 |
|
|
|
Carrying value at 30 June 2023 |
|
|
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
|
Accruals and deferred income |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
During the year a bonus issue of 70 ordinary shares having an aggregate nominal value of £1 were allotted for an aggregate consideration of £70.
During the year 30 ordinary shares having an aggregate nominal value of £1 were allotted for an aggregate consideration of £75,000, creating share premium of £74,970.
Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
Director | 127,676 | 0 |
Other related party transactions
During the current and previous year loan accounts existed between the company and companies in which a shareholder is a director and/or shareholder.
These loans are interest free and repayable on demand.
At the year end £137,742 (2023: £170,742) was owed to the company and is shown in other debtors and £6,550 (2023: £50) was owed by the company and is shown in other creditors.