GRAFTONBURY PROPERTIES LIMITED

Company Registration Number:
00871113 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2024

Period of accounts

Start date: 01 September 2023

End date: 31 August 2024

GRAFTONBURY PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2024

Balance sheet
Notes

GRAFTONBURY PROPERTIES LIMITED

Balance sheet

As at 31 August 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 2,662,500 2,582,500
Total fixed assets: 2,662,500 2,582,500
Current assets
Debtors:   834,195 699,175
Cash at bank and in hand: 2,836,452 2,882,215
Total current assets: 3,670,647 3,581,390
Creditors: amounts falling due within one year:   (33,369) (22,134)
Net current assets (liabilities): 3,637,278 3,559,256
Total assets less current liabilities: 6,299,778 6,141,756
Creditors: amounts falling due after more than one year:   (462,942) (462,942)
Provision for liabilities: (268,289) (248,289)
Total net assets (liabilities): 5,568,547 5,430,525
Capital and reserves
Called up share capital: 100,000 100,000
Profit and loss account: 5,468,547 5,330,525
Shareholders funds: 5,568,547 5,430,525

The notes form part of these financial statements

GRAFTONBURY PROPERTIES LIMITED

Balance sheet statements

For the year ending 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 May 2025
and signed on behalf of the board by:

Name: Mrs M P Franklin
Status: Director

The notes form part of these financial statements

GRAFTONBURY PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Rental income is recognised at the fair value of the consideration receivable for let out properties.

Other accounting policies

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 balance sheet when the company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include debtors 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. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities Basic financial liabilities, including creditors and loans 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. Derecognition of financial liabilities Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

GRAFTONBURY PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

GRAFTONBURY PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible Assets

Total
Cost £
At 01 September 2023 2,582,500
Revaluations 80,000
At 31 August 2024 2,662,500
Net book value
At 31 August 2024 2,662,500
At 31 August 2023 2,582,500

Investment properties comprises of residential buildings and commercial land. The fair value of the investment properties and land have been determined by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties and land. If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as £1,214,500 (2023 - £1,214,500)

GRAFTONBURY PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Related party transactions

Name of the related party:
Relationship:
Related party company
Description of the Transaction: The company is a related party by virtue of having a common director and shareholder. The unsecured loans provided are free of any interest charge and without any repayment terms.
£
Balance at 01 September 2023 684,195
Balance at 31 August 2024 684,195
Name of the related party:
Relationship:
Directors
Description of the Transaction: The unsecured loans provided are free of any interest charge and without any repayment terms.
£
Balance at 01 September 2023 462,942
Balance at 31 August 2024 462,942