Grovelands Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09699888 (England and Wales)

GROVELANDS ESTATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mrs S R Klein

SECRETARY:

Mr C M Rubin

REGISTERED OFFICE:

5a Fountayne Road

London

N16 7EA

REGISTERED NUMBER:

09699888 (England and Wales)

ACCOUNTANTS:

Sugarwhite Meyer Accountants Ltd

First Floor

94 Stamford Hill

London

N16 6XS

FIXED ASSETS

Investment property

5

513,721

513,721

CURRENT ASSETS

Debtors

6

135

703

Cash at bank

10,900

13,299

11,035

14,002

CREDITORS

Amounts falling due within one year

7

194,676

194,601

NET CURRENT LIABILITIES

(183,641

)

(180,599

)

TOTAL ASSETS LESS CURRENT LIABILITIES

330,080

333,122

CREDITORS

Amounts falling due after more than one year

8

335,962

335,949

NET LIABILITIES

(5,882

)

(2,827

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(5,883

)

(2,828

)

(5,882

)

(2,827

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 director on 29 April 2019 and were signed by:

Mrs S R Klein - Director

1.	STATUTORY INFORMATION

Grovelands Estates 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis, as modified to include

investment properties measured at fair value through profit or loss.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements,

estimates and assumptions about the carrying amounts of assets and liabilities that are not readily

apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. The estimates and underlying

assumptions are reviewed on an ongoing basis.

Turnover

Turnover is recognised at the fair value of the consideration receivable in respect of services provided

in the normal course of business. The turnover of the company is represented by rents and charges

receivable in respect of the company's investment portfolio. Rental income is accounted for on an

accruals basis.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially

recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value

are recognised in profit or loss.

Going concern

The financial statements have been prepared in accordance with the accounting principles appropriate

to a going concern notwithstanding the deficiency in net assets at the balance sheet date. The director

considers this to be appropriate having regard to the continued provision of financial support by the

company's director and creditors.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2017

and 31 July 2018

513,721

NET BOOK VALUE

At 31 July 2018

513,721

At 31 July 2017

513,721

The fair value of the investment properties has been arrived at on the basis of a valuation carried out

by the company's director who has the experience and expertise required to undertake such an

exercise. The valuation was made on an open market value basis by reference to market evidence of

transaction prices for similar properties in the same location.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

135

703

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

590

733

Other creditors

194,086

193,868

194,676

194,601

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

335,962

335,949

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs by non- instalments

335,962

335,949

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

335,962

335,949

The bank loan is secured by a legal charge over the company's investment property.

10.	RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £25,000 (2017: £25,000) due to Y & G Estates Ltd, a

related company.