Grangewood Enterprises Limited - Accounts to registrar (filleted) - small 18.2

Grangewood Enterprises Limited - Accounts to registrar (filleted) - small 18.2

GRANGEWOOD ENTERPRISES LIMITED - Company Information

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REGISTERED NUMBER: 03998741 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

GRANGEWOOD ENTERPRISES LIMITED
GRANGEWOOD ENTERPRISES LIMITED (REGISTERED NUMBER: 03998741)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRANGEWOOD ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2021







DIRECTOR: A Marsden





SECRETARY: Mrs L Marsden





REGISTERED OFFICE: Watson House
54 Baker Street
London
W1U 7BU





REGISTERED NUMBER: 03998741 (England and Wales)





ACCOUNTANTS: React Business Services
City Pavilion, Cannon Green
27 Bush Lane
London
EC4R 0AA
Page 1
GRANGEWOOD ENTERPRISES LIMITED (REGISTERED NUMBER: 03998741)

BALANCE SHEET
30 SEPTEMBER 2021

30.9.21 30.9.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 197,802 206,132
Investments 5 50 50
197,852 206,182

CURRENT ASSETS
Stocks 1,152 1,152
Debtors 6 7,639,962 7,266,661
Cash at bank 43,024 1,421
7,684,138 7,269,234
CREDITORS
Amounts falling due within one year 7 3,561,985 3,472,865
NET CURRENT ASSETS 4,122,153 3,796,369
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,320,005
4,002,551

CAPITAL AND RESERVES
Called up share capital 1,005 1,005
Revaluation reserve 8 57,198 57,198
Retained earnings 4,261,802 3,944,348
SHAREHOLDERS' FUNDS 4,320,005 4,002,551

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 28 June 2022 and were signed by:



A Marsden - Director


The notes form part of these financial statements

Page 2
GRANGEWOOD ENTERPRISES LIMITED (REGISTERED NUMBER: 03998741)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. STATUTORY INFORMATION

Grangewood Enterprises 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.

The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - at varying rates on cost
Plant and machinery etc - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Page 3 continued...
GRANGEWOOD ENTERPRISES LIMITED (REGISTERED NUMBER: 03998741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2. ACCOUNTING POLICIES - continued

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.

Investments
Investments held as fixed assets are shown at cost less provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 October 2020 262,715 111,510 374,225
Additions - 948 948
At 30 September 2021 262,715 112,458 375,173
DEPRECIATION
At 1 October 2020 64,129 103,964 168,093
Charge for year 4,613 4,665 9,278
At 30 September 2021 68,742 108,629 177,371
NET BOOK VALUE
At 30 September 2021 193,973 3,829 197,802
At 30 September 2020 198,586 7,546 206,132

Cost or valuation at 30 September 2021 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2020 57,198 - 57,198
Cost 205,517 112,458 317,975
262,715 112,458 375,173

Page 4 continued...
GRANGEWOOD ENTERPRISES LIMITED (REGISTERED NUMBER: 03998741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2020
and 30 September 2021 50
NET BOOK VALUE
At 30 September 2021 50
At 30 September 2020 50

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.21 30.9.20
£    £   
Amounts owed by group undertakings 903,195 1,104,395
Amounts owed by participating interests 1,978,987 1,364,211
Other debtors 4,757,780 4,798,055
7,639,962 7,266,661

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.21 30.9.20
£    £   
Bank loans and overdrafts 50,398 50,000
Trade creditors 6,697 175
Taxation and social security 434 726
Other creditors 3,504,456 3,421,964
3,561,985 3,472,865

8. RESERVES
Revaluation
reserve
£   
At 1 October 2020
and 30 September 2021 57,198

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in debtors falling due within one year is a balance of £3,728,462 (2020:£3,778,621) owed by the director of the company.

Page 5 continued...
GRANGEWOOD ENTERPRISES LIMITED (REGISTERED NUMBER: 03998741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

10. RELATED PARTY DISCLOSURES

The company has been involved in transactions with the following companies which are subject to common control through the directorship of Mr A Marsden:

Included in other loans within other creditors falling due within one year is a loan from Hartshead Square Developments Limited of £2,375,867 (2020: £2,439,438). During the year under review the company has charged management fees and other expenses totalling £1,000 (2020:£203,000)

Included in creditors falling due within one year is a balance of £862,587 (2020:£873,890) owed to Knight Financial Consultants Limited.

Also included in other debtors falling due within one year is an amount of £64,437 (2020:£64,924:) owed by SFGE Properties Limited.

The above loans are interest free and are repayable on demand.

Greenwood House Limited is a company owned by Mr A Marsden. Included in debtors falling due within one year is an amount of £1,498,306 (2020:£1,364,211) owed by Greenwood House Limited. Interest of £52,376 (2020:£50,368) has been charged on the loan.

11. TRANSACTIONS WITH GROUP COMPANIES

During the year under review the company entered into the following transactions with the group companies. The amounts due to (due by) the companies are as follows:

Included in other debtors is an amount of £5,298 (2020:£5,248) owed by Tonella Limited which has a 10% shareholding in the company.

Junction 33 Development (Holdings) Ltd is a subsidiary of Grangewood Enterprises Ltd. Included in debtors falling due within one year is an amount of £903,195 (2020:£1,104,395) owed by Junction 33 Development (Holdings) Ltd. During the year under review the company has charged management fees and other expenses totalling £10,000.

The loans are interest free and are repayable on demand.

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