REGISTERED NUMBER: 04532345 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

GROUNDRENTS-UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Bond

J Kirsch

M Kirsch

SECRETARY:

J Kirsch

REGISTERED OFFICE:

Magma House

16 Davy Court

Castle Mound Way

Rugby

Warwickshire

CV23 OUZ

REGISTERED NUMBER:

04532345 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

16 Davy Court

Castle Mound Way

Rugby, CV23 0UZ

Magma Audit LLP is part

Of the Dains Group

FIXED ASSETS

Investments

4

2

39,532

Investment property

5

2,172,134

1,097,703

2,172,136

1,137,235

CURRENT ASSETS

Debtors

6

125,000

127,000

Cash at bank

86,409

295,087

211,409

422,087

CREDITORS

Amounts falling due within one year

7

(287,775

)

(121,260

)

NET CURRENT (LIABILITIES)/ASSETS

(76,366

)

300,827

TOTAL ASSETS LESS CURRENT LIABILITIES

2,095,770

1,438,062

PROVISIONS FOR LIABILITIES

(304,845

)

(11,753

)

NET ASSETS

1,790,925

1,426,309

CAPITAL AND RESERVES

Called up share capital

202

202

Retained earnings

1,790,723

1,426,107

1,790,925

1,426,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

M Kirsch - Director

1.	STATUTORY INFORMATION

Groundrents-UK Limited is a limited company, registered in England and Wales. Its registered office address is Magma House 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 OUZ and the registered number is 04532345.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

Turnover represents rents receivable from investment properties, and is recognised as it falls due, in accordance with the lease to which it relates. Any lease incentives are spread evenly across the period of the lease.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet 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.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2023

39,532

Disposals

(39,530

)

At 30 September 2024

2

NET BOOK VALUE

At 30 September 2024

2

At 30 September 2023

39,532

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

1,097,703

Additions

388,931

Disposals

(1

)

Revaluations

685,501

At 30 September 2024

2,172,134

NET BOOK VALUE

At 30 September 2024

2,172,134

At 30 September 2023

1,097,703

Fair value at 30 September 2024 is represented by:

£

Valuation in 2024

2,172,134

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Amounts owed by group undertakings

125,000

125,000

Other debtors

-

2,000

125,000

127,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Taxation and social security

18,346

12,110

Other creditors

269,429

109,150

287,775

121,260

8.	RELATED PARTY DISCLOSURES

At the year end the company owed £150,997 (2023: £71,228) to a company under common control of directors.

At the year end the company owed £79,070 (2023: £Nil) to a company under common control of directors.