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 |
|
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.
Gradan Homes Limited
Notes to the Financial Statements (continued)
For The Year Ended 29 September 2025
2.7.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: NIL)
4.
Tangible Assets
| Plant and machinery | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 October 2024 |
|
| As at 29 September 2025 |
|
| Depreciation | |
| As at 1 October 2024 |
|
| Provided during the period |
|
| As at 29 September 2025 |
|
| Net Book Value | |
| As at 29 September 2025 |
|
| As at 1 October 2024 |
|
5.
Investment Property
| 29 September 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 October 2024 |
|
| Additions |
|
| Disposals |
( |
| As at 29 September 2025 |
|
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
| 29 September 2025 | 30 September 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Cost | 519,972 | 1,500,315 | |
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.
Gradan Homes Limited
Notes to the Financial Statements (continued)
For The Year Ended 29 September 2025
6.
Debtors
| 29 September 2025 | 30 September 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors | 4,979,346 | 2,078,245 | |
|
|
|
||
7.
Creditors: Amounts Falling Due Within One Year
| 29 September 2025 | 30 September 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts | - |
|
|
| Other creditors | 774,418 | 997,627 | |
| Taxation and social security |
|
|
|
|
|
|
||
8.
Creditors: Amounts Falling Due After More Than One Year
| 29 September 2025 | 30 September 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Bank loans |
|
|
|
|
|
|
||
Of the creditors falling due after more than one year the following amounts are due after more than five years.
| 29 September 2025 | 30 September 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Bank loans | - |
|
9.
Obligations Under Finance Leases and Hire Purchase
| 29 September 2025 | 30 September 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
|
|
|
||
Gradan Homes Limited
Notes to the Financial Statements (continued)
For The Year Ended 29 September 2025
11.
Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
12.
Reserves
| Profit and Loss Account | |
|---|---|
| £ | |
| As at 1 October 2024 |
|
| Profit for the year and total comprehensive income |
|
| As at 29 September 2025 |
|
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Distributable profit and loss reserves
|
4,796,383
|
440,793
|
|
|
Non-distributable profit and loss reserves
|
108,750
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
3,342,009
|
|
|
4,905,133
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
3,782,802
|
13.
Related Party Transactions
The following related party transactions were undertaken during the period:
The director withdrew amounts totalling £305,912 (2024: £202,266) and introduced amounts totalling £585,000 (2024: £371,242). At the balance sheet date the amount payable to the director was £604,711 (2024: £325,623).
The company entered into transactions during the year with companies under common control of the directors and shareholders.
During the year, the company made payments on behalf of and received payments on behalf of related entities in the normal course of
business. No guarantees were given or received in respect of these balances.
At the balance sheet date, amounts due from related parties totalled £4,701,091 (2024: £2,078,244) and amounts due to related parties totalled
£nil (2024: £nil).
The balances are unsecured, interest-free and repayable on demand unless otherwise stated.
The related party balances are with the following entities:
Abbey Eng LLP
Abbey Group International Limited
Abbey Group Defence Limited
North Wales Eco Lod
Gradan Care Limited
Gradan Developments Limited
Gradan Homes Investments Limited
Gradan Housing Group (CHG) Limited
Gradan Property Management Services Limited
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'.
Gradan Homes Limited
Notes to the Financial Statements (continued)
For The Year Ended 29 September 2025
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.
Prior year adjustment
During the year, it was identified that a government grant received in the prior year had been incorrectly classified as a loan within creditors.
The comparative figures have been restated by way of a prior year adjustment to reclassify the deferred grant from loans to other creditors. There is no change to the amount of the liability recognised, the timing of recognition of the grant income, or the profit for the prior year as a result of the adjustment.
The adjustment has no impact on the company's net assets or cash position.