| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| GRAND CAPITAL GROUP LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| GRAND CAPITAL GROUP LTD |
| GRAND CAPITAL GROUP LTD (REGISTERED NUMBER: 10280878) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| Page |
| Statement of Financial Position | 1 |
| Notes to the Financial Statements | 3 |
| GRAND CAPITAL GROUP LTD (REGISTERED NUMBER: 10280878) |
| STATEMENT OF FINANCIAL POSITION |
| 30 JUNE 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 12 |
| Retained earnings |
| 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. |
| GRAND CAPITAL GROUP LTD (REGISTERED NUMBER: 10280878) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 JUNE 2024 |
| The financial statements were approved by the director and authorised for issue on |
| GRAND CAPITAL GROUP LTD (REGISTERED NUMBER: 10280878) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 1. | STATUTORY INFORMATION |
| Grand Capital Group Ltd is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the director is 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 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 estimate 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 are significant judgements and estimates involved in the preparation of the financial statements. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Grand Capital Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Revenue |
| Revenue represents the value of rental income chargeable in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement. |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Property, plant and equipment |
| Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended. |
| The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. |
| Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
| Plant and machinery - 25% on reducing balance |
| The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal. |
| GRAND CAPITAL GROUP LTD (REGISTERED NUMBER: 10280878) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Investments in subsidiaries |
| Investment in subsidiary undertakings are recognised at cost less impairment. |
| Investment properties |
| Investment properties, which are properties held to earn rentals, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. |
| Subsequently they are measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Cash and cash equivalents |
| Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. |
| Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| GRAND CAPITAL GROUP LTD (REGISTERED NUMBER: 10280878) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 July 2023 |
| and 30 June 2024 |
| DEPRECIATION |
| At 1 July 2023 |
| Charge for year |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 July 2023 |
| and 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2023 |
| Additions |
| Revaluations | 241,979 |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| Fair value at 30 June 2024 is represented by: |
| £ |
| Valuation in 2024 | 241,979 |
| Cost | 3,996,654 |
| 4,238,633 |
| GRAND CAPITAL GROUP LTD (REGISTERED NUMBER: 10280878) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 6. | INVESTMENT PROPERTY - continued |
| If the investment properties had not been revalued it would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 3,996,654 | 3,526,937 |
| Investment properties were valued on an open market basis on 30 June 2024 by the director of the company . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans | 2,445,962 | 2,439,579 |
| Bank loans are secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge. |
| 11. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 60,495 | - |
| GRAND CAPITAL GROUP LTD (REGISTERED NUMBER: 10280878) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 11. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Provided during year |
| Balance at 30 June 2024 |
| 12. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| Revaluation reserve | 181,484 |
| At 30 June 2024 |
| 13. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group |
| Included in the other debtors within one year is an amount of Nil (2023: £4,999) due from a connected company under common directorship and shareholding. |
| Included in the other creditors less than one year is an amount of £356,977 (2023: £340,718) due to connected companies under common directorship and shareholding.The loan was interest free and repayable on demand. |
| Included in other creditors less than one year is an amount of £389,991 (2023: Nil) due to a connected person.The loan was interest free and repayable on demand. |
| Included in other creditors more than one year is an amount of £708,025 (2023: £729,412) due to a connected person.The loan was interest free. |