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Registered number: 11430135
Gradan Homes Limited
Unaudited Financial Statements
For the Period 1 July 2023 to 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11430135
30 September 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,046 28,633
Investment Properties 5 5,956,326 4,605,998
5,977,372 4,634,631
CURRENT ASSETS
Debtors 6 2,078,245 925,886
Cash at bank and in hand 27,265 101,803
2,105,510 1,027,689
Creditors: Amounts Falling Due Within One Year 7 (436,252 ) (353,686 )
NET CURRENT ASSETS (LIABILITIES) 1,669,258 674,003
TOTAL ASSETS LESS CURRENT LIABILITIES 7,646,630 5,308,634
Creditors: Amounts Falling Due After More Than One Year 8 (2,901,354 ) (2,013,624 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (962,374 ) (821,578 )
NET ASSETS 3,782,902 2,473,432
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 3,782,802 2,473,332
SHAREHOLDERS' FUNDS 3,782,902 2,473,432
Page 1
Page 2
For the period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C P Jones
Director
25 June 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gradan Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11430135 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and machinery 25% Straight line
2.4. Investment Properties
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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 measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL (2023: NIL)
- -
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4. Tangible Assets
Plant and machinery
£
Cost or Valuation
As at 1 July 2023 38,178
Additions 6,318
As at 30 September 2024 44,496
Depreciation
As at 1 July 2023 9,545
Provided during the period 13,905
As at 30 September 2024 23,450
Net Book Value
As at 30 September 2024 21,046
As at 1 July 2023 28,633
5. Investment Property
30 September 2024
£
Fair Value
As at 1 July 2023 4,605,998
Additions 4,138,235
Disposals (4,678,000 )
Revaluations 1,890,093
As at 30 September 2024 5,956,326
The directors have valued the investment properties on an open market basis as at the reporting date, which they consider accurately reflects their fair value.
6. Debtors
30 September 2024 30 June 2023
£ £
Due within one year
Other debtors 2,078,245 925,886
7. Creditors: Amounts Falling Due Within One Year
30 September 2024 30 June 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,939 8,939
Trade creditors 92 115,000
Bank loans and overdrafts 29,594 39,862
Other creditors 397,627 189,885
436,252 353,686
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
30 September 2024 30 June 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,822 15,995
Bank loans 2,896,532 1,997,629
2,901,354 2,013,624
Of the creditors falling due after more than one year the following amounts are due after more than five years.
30 September 2024 30 June 2023
£ £
Bank loans 1,292,785 1,341,653
9. Secured Creditors
The bank loans are secured by charges against the properties to which they relate.
10. Obligations Under Finance Leases and Hire Purchase
30 September 2024 30 June 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,939 8,939
Later than one year and not later than five years 4,822 15,995
13,761 24,934
13,761 24,934
11. Share Capital
30 September 2024 30 June 2023
£ £
Called Up Share Capital not Paid - 100
Called Up Share Capital has been paid up 100 -
Amount of Allotted, Called Up Share Capital 100 100
12. Reserves
2024
2023
£
£
Distributable profit and loss reserves
440,793
(116,418)
Non-distributable profit and loss reserves
3,342,009
image
2,589,750
image
3,782,802
image
2,473,332
image
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13. Related Party Transactions
The following related party transactions were undertaken during the period:
The director withdrew amounts totalling £202,266 (2023: £Nil) and introduced amounts totalling £371,242 (2023: £30,000). At the balance sheet date the amount payable to the director was £325,623 (2023: £156,647).
A company under common control received advances totalling £3,345,995 (2023: £408,940) and repaid amounts totalling £3,981,275 (2023: £Nil). At the balance sheet date the amount receivable from the company was £Nil (2023: £635,280).
A company under common control received advances totalling £42,000 (2023: £11,825) and repaid amounts totalling £160 (2023: £Nil). At the balance sheet date the amount receivable from the company was £97,298 (2023: £55,458).
A company under common control received advances totalling £32,384 (2023: £Nil) and repaid amounts totalling £50,000 (2023: £Nil). At the balance sheet date the amount receivable from the company was £196,384 (2023: £214,000).
A company under common control received advances totalling £130,147 (2023: £30,984) and repaid amounts totalling £30,984 (2023: £147). At the balance sheet date the amount receivable from the company was £130,000 (2023: payable to the company £30,837).
A company under common control received advances totalling £442,056 and repaid amounts totalling £95,993. At the balance sheet date the amount receivable from the company was £346,063.
A company under common control received advances totalling £42,700 and repaid amounts totalling £Nil. At the balance sheet date the amount receivable from the company was £42,700.
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
14. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Gradan Homes Investments Limited . Gradan Homes Investments Limited was incorporated in England on 27 September 2023. The registered address is Hanover Buildings, 11 - 13 Hanover Street, Liverpool, Merseyside, England, L1 3DN. The ultimate controlling party is Gradan Homes Investments Limited who controls 100% of the shares of Gradan Homes Limited .
15. Change of year end
During the period, the company decided to change its financial year-end from 30 June to 30 September. This change was made to align the
company's reporting period with that of companies under common control. Comparative figures for the previous period cover the year ended 30 June 2023.
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