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GROVEMOOR PROPERTIES LIMITED

Registered Number
SC208332
(Scotland)

Unaudited Financial Statements for the Year ended
31 October 2024

GROVEMOOR PROPERTIES LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

CRAWFORD, L M

Company Secretary

CRAWFORD, L M

Registered Address

22 Pendicle Road
Bearsden
Glasgow
G61 1DY

Registered Number

SC208332 (Scotland)
GROVEMOOR PROPERTIES LIMITED
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3329439
Investment property4600,0001,010,000
600,3291,010,439
Current assets
Debtors5-6,061
Cash at bank and on hand12,0322,314
12,0328,375
Creditors amounts falling due within one year6(31,639)(47,729)
Net current assets (liabilities)(19,607)(39,354)
Total assets less current liabilities580,722971,085
Creditors amounts falling due after one year7(340,345)(721,541)
Net assets240,377249,544
Capital and reserves
Called up share capital210,184210,184
Share premium240,020240,020
Other reserves347,041347,041
Profit and loss account(556,868)(547,701)
Shareholders' funds240,377249,544
The financial statements were approved and authorised for issue by the Director on 21 July 2025, and are signed on its behalf by:
CRAWFORD, L M
Director
Registered Company No. SC208332
GROVEMOOR PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Turnover policy
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/or the 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.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are 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 Income Statement.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 November 23898898
At 31 October 24898898
Depreciation and impairment
At 01 November 23459459
Charge for year110110
At 31 October 24569569
Net book value
At 31 October 24329329
At 31 October 23439439
4.Investment property
The investment property is carried at an open market value of £600,000. This valuation represents the Director's opinion of fair value as at 31 October 2024.

£
Fair value at 01 November 231,010,000
Additions21,967
Disposals(431,967)
At 31 October 24600,000
5.Debtors: amounts due within one year

2024

2023

££
Other debtors-4,135
Prepayments and accrued income-1,926
Total-6,061
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,9955,492
Taxation and social security2,853-
Other creditors5,1208,717
Accrued liabilities and deferred income20,67133,520
Total31,63947,729
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts148,695559,891
Other creditors191,650161,650
Total340,345721,541
The bank loan included in creditors is secured by a fixed and floating charge over the company's assets.
8.Directors advances, credits and guarantees
Creditors: Amounts Due Within One Year includes £5,120 (2023: £8,717) due to a Director in respect of finance provided by them to the company. The loan is unsecured, interest free and repayable upon demand. Creditors: Amounts Due After One Year includes £191,650 (2023: £161,650) due to a Director in respect of finance provided by them to the company. Interest of 7.5% per annum is charged on the loan.