Company Registration No. 10598800 (England and Wales)
Granville Property Limited
Unaudited accounts
for the year ended 31 July 2023
Granville Property Limited
Unaudited accounts
Contents
Granville Property Limited
Company Information
for the year ended 31 July 2023
Directors
Mr J Kidd
Mrs C Kidd
Company Number
10598800 (England and Wales)
Registered Office
45 Priests Lane
Brentwood
Essex
CM15 8BU
Accountants
Kevin Gibbons MAAT
Virtual Financial Controller Limited
11 Sussex Avenue
Romford
RM3 0TA
Granville Property Limited
Statement of financial position
as at 31 July 2023
Investment property
791,738
826,986
Cash at bank and in hand
1,008
23,678
Creditors: amounts falling due within one year
(3,416)
(5,608)
Net current (liabilities)/assets
(2,408)
18,420
Total assets less current liabilities
789,330
845,406
Creditors: amounts falling due after more than one year
(645,811)
(668,500)
Provisions for liabilities
Deferred tax
(17,144)
(23,841)
Net assets
126,375
153,065
Called up share capital
400
400
Profit and loss account
125,975
152,665
Shareholders' funds
126,375
153,065
For the year ending 31 July 2023 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.
The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by
Mr J Kidd
Director
Company Registration No. 10598800
Granville Property Limited
Notes to the Accounts
for the year ended 31 July 2023
Granville Property Limited is a private company, limited by shares, registered in England and Wales, registration number 10598800. The registered office is 45 Priests Lane, Brentwood, Essex, CM15 8BU.
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 2022
826,986
Net loss from fair value adjustments
(35,248)
Interim investment property values are updated in line with the Nationwide property index.
Amounts falling due within one year
Granville Property Limited
Notes to the Accounts
for the year ended 31 July 2023
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
906
3,098
Other creditors
2,000
2,000
7
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
645,811
668,500
Aggregate of amounts that fall due for payment after five years
-
668,500
Other creditors represents a loan from the directors for the purchase of the investment property.
8
Deferred taxation
2023
2022
Revaluation of investment property
17,144
23,841
Provision at start of year
23,841
12,071
(Credited)/charged to the profit and loss account
(6,697)
11,770
Provision at end of year
17,144
23,841
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
