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Registered number: 04074243














GROVE HOUSE PROPERTIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

 
GROVE HOUSE PROPERTIES LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1
Notes to the Financial Statements
 
 
2 - 5


 
GROVE HOUSE PROPERTIES LIMITED
REGISTERED NUMBER:04074243

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,200,000
1,600,000

Current assets
  

Cash at bank and in hand
  
187,758
359,312

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(45,089)
(42,194)

Net current assets
  
 
 
142,669
 
 
317,118

Total assets less current liabilities
  
1,342,669
1,917,118

  

Creditors: amounts falling due after more than one year
 6 
(196,554)
(446,554)

Provisions for liabilities
  

Deferred tax
 7 
-
(32,509)

Net assets
  
1,146,115
1,438,055


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
 9 
1,146,015
1,437,955

  
1,146,115
1,438,055


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.

The Company has opted not to file the statement of comprehensive income 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 26 June 2025.

D Saul
Director

The notes on pages 2 to 5 form part of these financial statements.
Page 1

 
GROVE HOUSE PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Grove House Properties Limited is a private limited liability company registered in England and Wales with its registered office and principal place of business at Frank Saul House, Steele Road, London, NW10 7AR.
The principal activity of the Company is that of commercial property letting.
The functional and presentational currency of the Company is £ Sterling.

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

Turnover

Turnover represents rent receivable during the year excluding Value Added Tax. 
Rental income is recognised in the period to which it relates. 

 
2.3

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.4

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.

 
2.5

Creditors

Short term creditors are measured at the transaction price.

Page 2

 
GROVE HOUSE PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Employees

The director was the only employee of the company during the current and preceding period. 

Page 3

 
GROVE HOUSE PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 November 2023
1,600,000


Fair value movement
(400,000)



At 31 October 2024
1,200,000

The 2024 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
907,385
907,385


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Taxation and social security
30,037
27,142

Accruals and deferred income
15,052
15,052

45,089
42,194



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
196,554
446,554


Page 4

 
GROVE HOUSE PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Deferred taxation




2024
2023


£

£






At beginning of year
32,509
32,509


Released to profit or loss
(32,509)
-



At end of year
-
32,509

The deferred taxation balance is made up as follows:

2024
2023
£
£


Fair value adjustments
-
32,509


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



9.


Reserves

Profit and loss account

Included in profit and loss reserves are non-distributable fair value adjustments amounting to £292,615 (2023 - £660,106).

 
Page 5