GR8 Space (Red House) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09229892 (England and Wales)

Financial Statements for the Year Ended 31 March 2021

for

GR8 Space (Red House) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N A Liddell

C J Liddell

SECRETARY:

R T Brighton

REGISTERED OFFICE:

Chatsworth

The Holloway

Droitwich Spa

Worcestershire

WR9 7AJ

REGISTERED NUMBER:

09229892 (England and Wales)

ACCOUNTANTS:

R T Brighton Chartered Accountants

Chatsworth

The Holloway

Droitwich Spa

Worcestershire

WR9 7AJ

CURRENT ASSETS

Debtors

4

50,000

50,443

Cash at bank

649,863

663,973

699,863

714,416

CREDITORS

Amounts falling due within one year

5

(8,798

)

4,860

NET CURRENT ASSETS

708,661

709,556

TOTAL ASSETS LESS CURRENT LIABILITIES

708,661

709,556

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

6

701,508

701,508

Retained earnings

7,151

8,046

SHAREHOLDERS' FUNDS

708,661

709,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2021 and were signed on its behalf by:

N A Liddell - Director

1.	STATUTORY INFORMATION

GR8 Space (Red House) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other debtors

50,000

50,443

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

-

4,860

Taxation and social security

(8,798

)

-

(8,798

)

4,860

6.

RESERVES

Revaluation

reserve

£

At 1 April 2020

and 31 March 2021

701,508

7.	CONTINGENT LIABILITIES

The company has in place a guarantee to provide a charge over construction contracts that it enters into.

There is also a legal charge over the assets of the company on which there is a fixed and floating charge.