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REGISTERED NUMBER: 08882716 (England and Wales)















Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Gramphill Properties Limited

Gramphill Properties Limited (Registered number: 08882716)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gramphill Properties Limited

Company Information
for the Year Ended 28 February 2025







DIRECTOR: M G Toone





REGISTERED OFFICE: Carlton House
High Street
Higham Ferrers
Northamptonshire
NN10 8BW





REGISTERED NUMBER: 08882716 (England and Wales)





ACCOUNTANTS: Willsons
Chartered Accountants
Carlton House
High Street
Higham Ferrers
Northamptonshire
NN10 8BW

Gramphill Properties Limited (Registered number: 08882716)

Balance Sheet
28 February 2025

28.2.25 29.2.24
Notes £    £    £   
FIXED ASSETS
Investment property 4 1,311,715 1,311,715

CURRENT ASSETS
Debtors 5 1 601
Cash at bank 4,135 6,447
4,136 7,048
CREDITORS
Amounts falling due within one year 6 714,861 797,144
NET CURRENT LIABILITIES (710,725 ) (790,096 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

600,990

521,619

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 600,989 521,618
600,990 521,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 30 April 2025 and were signed by:




M G Toone - Director


Gramphill Properties Limited (Registered number: 08882716)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Gramphill Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents rents receivable and associated income during the period, excluding value added tax.

Investment property
No depreciation is provided for in respect of investment properties in accordance with FRS 102 1A (effective January 2022). Such properties are held for their investment potential and not for consumption within the business. Investment properties are stated at their market value at the balance sheet date.

Gramphill Properties Limited (Registered number: 08882716)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.


Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Gramphill Properties Limited (Registered number: 08882716)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

2. ACCOUNTING POLICIES - continued

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2024
and 28 February 2025 1,311,715
NET BOOK VALUE
At 28 February 2025 1,311,715
At 29 February 2024 1,311,715

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Other debtors 1 1
VAT - 600
1 601

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Corporation Tax 26,457 28,089
VAT 5,349 -
Other creditors 415,000 415,000
Directors' current accounts 261,000 347,000
Accruals and deferred income 7,055 7,055
714,861 797,144

7. RELATED PARTY DISCLOSURES

The director has lent £261,000 (2024: £347,000) to the company to enable it to buy the property. The loan is non-interest bearing and is repayable at the discretion of the director/shareholder.

A company controlled by the director has lent £415,000 (2024: £415,000) to the company to enable it to repay bank loans. The loan is non-interest bearing and is repayable at the discretion of the director/shareholder.