Grade Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05599388 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th June 2020

for

Grade Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G A Kenneth

M G Kenneth

Ms F K Kenneth

SECRETARY:

Miss S J Bohane

REGISTERED OFFICE:

Second Floor

23-24 High Street

Marlborough

Wiltshire

SN8 1LW

REGISTERED NUMBER:

05599388 (England and Wales)

FIXED ASSETS

Investments

4

1,817,861

1,817,861

Investment property

5

225,876

-

2,043,737

1,817,861

CURRENT ASSETS

Cash at bank

583

-

CREDITORS

Amounts falling due within one year

6

2,044,341

1,817,841

NET CURRENT LIABILITIES

(2,043,758

)

(1,817,841

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(21

)

20

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

(41

)

-

SHAREHOLDERS' FUNDS

(21

)

20

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th February 2021 and were signed on its behalf by:

M G Kenneth - Director

1.	STATUTORY INFORMATION

Grade Developments 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.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investments

Investments are included at cost or where in the opinion of the directors the value of the investments materially different, at director's valuation. Any revaluation surplus is taken to a revaluation reserve. Any losses arising on revaluation are written off to the profit and loss account except to the extent that such losses are offset by surpluses on revaluations of the same investment in prior years.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st July 2019

and 30th June 2020

1,817,861

NET BOOK VALUE

At 30th June 2020

1,817,861

At 30th June 2019

1,817,861

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

225,876

At 30th June 2020

225,876

NET BOOK VALUE

At 30th June 2020

225,876

The directors believe that the market value of the investment property at 30th June 2020 was not materially different from the original cost.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Other creditors

2,044,341

1,817,841