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Company No: 02869774 (England and Wales)

# GRAND BOIS LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

GRAND BOIS LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

GRAND BOIS LIMITED

## BALANCE SHEET

As at 31 December 2024
GRAND BOIS LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 252,760 |  | 267,755
Investment property | 5 | 371,933 |  | 390,361
|  | 624,693 |  | 658,116
Current assets |  |  |  |
Stocks | 6 | 1,983 |  | 1,983
Debtors | 7 | 7,066 |  | 9,973
Cash at bank and in hand |  | 90,955 |  | 133,290
|  | 100,004 |  | 145,246
Creditors: amounts falling due within one year | 8 | ( 46,043) |  | ( 101,331)
Net current assets |  | 53,961 |  | 43,915
Total assets less current liabilities |  | 678,654 |  | 702,031
Provision for liabilities | 9 | ( 34,137) |  | ( 50,802)
Net assets |  | 644,517 |  | 651,229
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Revaluation reserve |  | 233,693 |  | 252,121
Profit and loss account |  | 410,724 |  | 399,008
Total shareholders' funds |  | 644,517 |  | 651,229

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Grand Bois Limited (registered number: 02869774) were approved and authorised for issue by the Director on 09 September 2025. They were signed on its behalf by:

J. Skene Director |

GRAND BOIS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
GRAND BOIS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Grand Bois Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Russell Hotel, 80 London Road, Tunbridge Wells, Kent, TN1 1DZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Grand Bois Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates. Monetary amounts are rounded to the nearest whole £1, except where otherwise indicated.

##### Going concern

The financial statements have been prepared on a going concern basis.
The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

##### Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue deriving from guest accommodation is recognised once the guest has completed a night's stay. Food and beverage sales are recognised at the point of consumption.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 50 years straight line
Fixtures and fittings | 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.
Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

The Company only 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.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

#### 2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised.

#### 3. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 12 |  | 10

#### 4. Tangible assets

| Land and buildings |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 January 2024 | 494,229 |  | 135,557 |  | 629,786
At 31 December 2024 | 494,229 |  | 135,557 |  | 629,786
Accumulated depreciation |  |  |  |  |
At 01 January 2024 | 246,910 |  | 115,121 |  | 362,031
Charge for the financial year | 9,885 |  | 5,110 |  | 14,995
At 31 December 2024 | 256,795 |  | 120,231 |  | 377,026
Net book value |  |  |  |  |
At 31 December 2024 | 237,434 |  | 15,326 |  | 252,760
At 31 December 2023 | 247,319 |  | 20,436 |  | 267,755

#### 5. Investment property

| Investment property
| £
Valuation |
As at 01 January 2024 | 390,361
Fair value movement | (18,428)
As at 31 December 2024 | 371,933

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

Historic cost

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

| 2024 |  | 2023
| £ |  | £
Historic cost | 128,458 |  | 128,458

#### 6. Stocks

| 2024 |  | 2023
| £ |  | £
Finished goods | 1,983 |  | 1,983

#### 7. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 1,380 |  | 5,328
Prepayments | 5,343 |  | 4,645
Other debtors | 343 |  | 0
| 7,066 |  | 9,973

#### 8. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Trade creditors | 8,649 |  | 10,266
Accruals | 9,696 |  | 6,412
Corporation tax | 3,433 |  | 11,834
Other taxation and social security | 20,888 |  | 18,851
Payments received on account | 2,669 |  | 1,335
Other creditors | 708 |  | 52,633
| 46,043 |  | 101,331

#### 9. Deferred tax

| 2024 |  | 2023
| £ |  | £
At the beginning of financial year | ( 50,802) |  | ( 51,062)
Credited to the Profit and Loss Account | 16,665 |  | 260
At the end of financial year | ( 34,137) |  | ( 50,802)

The deferred taxation balance is made up as follows:

| 2024 |  | 2023
| £ |  | £
Accelerated capital allowances | ( 2,912) |  | ( 5,109)
Potential tax due on sale of investment property | ( 31,225) |  | ( 45,693)
| 0 |  | 0
| ( 34,137) |  | ( 50,802)

#### 10. Related party transactions

During the year the director and their close family were advanced £90,000 (2023: £nil), with repayments of £37,250 (2023: £49,000). At the year end, the director and close family owed to the company £343 (2023: £52,633 owed by the company). Interest was charged at 2.25% at the official HMRC rate of interest, on the overdrawn balance, accruing interest of £226.15, with the balance being repayable on demand.