Company Registration No. 10598800 (England and Wales)
Granville Property Limited
Unaudited accounts
for the year ended 31 July 2019
Granville Property Limited
Unaudited accounts
Contents
Granville Property Limited
Company Information
for the year ended 31 July 2019
Directors
Mr J Kidd
Mrs C Kidd
Company Number
10598800 (England and Wales)
Registered Office
14 FRIARS AVENUE
SHENFIELD
BRENTWOOD
ESSEX
CM15 8HY
UNITED KINGDOM
Accountants
Virtual FC
11 Sussex Avenue
Harold Wood
Romford
RM3 0TA
Granville Property Limited
Statement of financial position
as at 31 July 2019
Investment property
687,161
510,560
Cash at bank and in hand
7,481
29,745
Creditors: amounts falling due within one year
(4,893)
(4,027)
Net current assets
5,027
25,718
Total assets less current liabilities
692,188
536,278
Creditors: amounts falling due after more than one year
(698,034)
(537,352)
Net liabilities
(5,846)
(1,074)
Called up share capital
300
300
Profit and loss account
(6,146)
(1,374)
Shareholders' funds
(5,846)
(1,074)
For the year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 6 March 2020.
Mr J Kidd
Director
Company Registration No. 10598800
Granville Property Limited
Notes to the Accounts
for the year ended 31 July 2019
Granville Property Limited is a private company, limited by shares, registered in England and Wales, registration number 10598800. The registered office is 14 FRIARS AVENUE, SHENFIELD, BRENTWOOD, ESSEX, CM15 8HY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs.
Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 August 2018
510,560
Net loss from fair value adjustments
(13,499)
Interim investment property values are updated in line with the Nationwide property index.
Granville Property Limited
Notes to the Accounts
for the year ended 31 July 2019
Deferred tax asset
2,439
-
6
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
2,413
2,037
Other creditors
2,000
1,750
7
Creditors: amounts falling due after more than one year
2019
2018
Other creditors
698,034
537,352
Aggregate of amounts that fall due for payment after five years
698,034
537,352
Other creditors represents a loan from the directors for the purchase of the investment property.
8
Deferred taxation
2019
2018
Revaluation of investment property
(2,439)
-
Credited to the profit and loss account
(2,439)
-
Provision at end of year
(2,439)
-
Deferred tax has arising from the revaluation of investment properties to market value. The tax will be realised on disposal of the properties.
9
Average number of employees
During the year the average number of employees was 0 (2018: 0).
