REGISTERED NUMBER: 05995318 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 DECEMBER 2024

FOR

GROUND RENT TRADING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

9

DIRECTOR:

L C Freilich

SECRETARY:

B Grossman

REGISTERED OFFICE:

5 Sentinel Square

Hendon

London

NW4 2EL

REGISTERED NUMBER:

05995318 (England and Wales)

ACCOUNTANTS:

MGR Paris Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Investments

4

32,611

32,611

Investment property

5

3,475,398

3,475,398

3,508,009

3,508,009

CURRENT ASSETS

Debtors

6

1,060,290

735,720

Cash at bank and in hand

1,318

1,154

1,061,608

736,874

CREDITORS

Amounts falling due within one year

7

(794,115

)

(474,968

)

NET CURRENT ASSETS

267,493

261,906

TOTAL ASSETS LESS CURRENT LIABILITIES

3,775,502

3,769,915

CREDITORS

Amounts falling due after more than one year

8

(2,285,726

)

(2,360,418

)

PROVISIONS FOR LIABILITIES

11

(237,706

)

(237,706

)

NET ASSETS

1,252,070

1,171,791

CAPITAL AND RESERVES

Called up share capital

12

100

100

Fair value reserve

13

1,251,084

1,251,084

Retained earnings

13

886

(79,393

)

SHAREHOLDERS' FUNDS

1,252,070

1,171,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 December 2025 and were signed by:

L C Freilich - Director

1.	STATUTORY INFORMATION

Ground Rent Trading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover represents invoiced ground rents on investment properties and insurance commissions received.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Interest payable

Interest payable is charged to the profit and loss account on an accruals basis.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets

Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive income.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured 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 the market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method.

Cash and cash equivalent

Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investment with original maturities of three months or less.

Taxation

Current tax is recognised for the amounts of income tax payable in respect of the taxable profit for the current of past reporting requirements using the tax rates and laws have been enacted or substantively enacted by the reporting dates.

Deferred tax is recognised in respect of all timing differences at the reporting date and are presented within the provision for liabilities 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.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 30 December 2023

and 29 December 2024

32,611

NET BOOK VALUE

At 29 December 2024

32,611

At 29 December 2023

32,611

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Woodberry Management Limited

Registered office:

Nature of business: Trading in real estate

%

Class of shares:

holding

Ordinary

100.00

Moreland Commercial Investments Limited

Registered office:

Nature of business: Investment property

%

Class of shares:

holding

Ordinary

100.00

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 30 December 2023

and 29 December 2024

3,475,398

NET BOOK VALUE

At 29 December 2024

3,475,398

At 29 December 2023

3,475,398

Fair value at 29 December 2024 is represented by:

£

Valuation in 2014

563,474

Valuation in 2019

369,110

Valuation in 2024

288,000

Cost

2,254,814

3,475,398

Investment property was valued on an open market value basis on 29 December 2023 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.12.24

29.12.23

£

£

Trade debtors

271,457

168,569

Amounts owed by group undertakings

44,722

46,860

Other debtors

744,111

520,291

1,060,290

735,720

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.12.24

29.12.23

£

£

Bank loans and overdrafts (see note 9)

103,699

104,418

Amounts owed to group undertakings

580,272

284,260

Taxation and social security

101,145

77,290

Other creditors

8,999

9,000

794,115

474,968

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29.12.24

29.12.23

£

£

Bank loans (see note 9)

1,370,891

1,445,583

Other creditors

914,835

914,835

2,285,726

2,360,418

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

914,835

914,835

Repayable by instalments

Bank loans more 5 yr by instal

1,364,349

1,428,633

9.

LOANS

An analysis of the maturity of loans is given below:

29.12.24

29.12.23

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

25,070

26,039

Bank loans

78,629

78,379

103,699

104,418

Amounts falling due between one and two years:

Bank loans - 1-2 years

4,141

9,760

Amounts falling due between two and five years:

Bank loans - 2-5 years

2,401

7,190

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

914,835

914,835

Repayable by instalments

Bank loans more 5 yr by instal

1,364,349

1,428,633

10.	SECURED DEBTS

The following secured debts are included within creditors:

29.12.24

29.12.23

£

£

Bank loans

1,449,520

1,523,962

Bank loans are secured against the investment property held by the company.

11.	PROVISIONS FOR LIABILITIES

29.12.24

29.12.23

£

£

Deferred tax

237,706

237,706

Deferred

tax

£

Balance at 30 December 2023

237,706

Balance at 29 December 2024

237,706

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.12.24

29.12.23

value:

£

£

100

Ordinary shares

1

100

100

13.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 30 December 2023

(79,393

)

1,251,084

1,171,691

Profit for the year

80,279

80,279

At 29 December 2024

886

1,251,084

1,251,970

14.	ULTIMATE PARENT COMPANY

The Moreland Property Group is regarded by the director as being the ultimate parent company.

ULTIMATE CONTROLLING PARTY

The director considers the ultimate controlling party of the company to be the board of the Moreland Property Group Limited.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ground Rent Trading Limited for the year ended 29 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Ground Rent Trading Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ground Rent Trading Limited and state those matters that we have agreed to state to the director of Ground Rent Trading Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ground Rent Trading Limited and its director for our work or for this report.

It is your duty to ensure that Ground Rent Trading Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ground Rent Trading Limited. You consider that Ground Rent Trading Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ground Rent Trading Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MGR Paris Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

29 December 2025