Grosvenor House (Malvern) - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 00485619 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

GROSVENOR HOUSE (MALVERN)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J B Slade

Mrs. A E Slade

Miss G E Slade

REGISTERED OFFICE:

127 Church Street

Malvern

Worcestershire

WR14 2BA

REGISTERED NUMBER:

00485619 (England and Wales)

ACCOUNTANTS:

Leadon Valley Accountancy Ltd

Ledbury Business Centre

136 Bridge Street

Ledbury

Herefordshire

HR8 2AS

FIXED ASSETS

Tangible assets

4

31

270

Investment property

5

2,965,547

2,500,800

2,965,578

2,501,070

CURRENT ASSETS

Debtors

6

-

5,196

Cash at bank and in hand

64,724

32,813

64,724

38,009

CREDITORS

Amounts falling due within one year

7

141,901

128,183

NET CURRENT LIABILITIES

(77,177

)

(90,174

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,888,401

2,410,896

PROVISIONS FOR LIABILITIES

504,143

425,136

NET ASSETS

2,384,258

1,985,760

CAPITAL AND RESERVES

Called up share capital

18,100

18,100

Fair value reserve

8

1,542,856

1,542,856

Retained earnings

823,302

424,804

SHAREHOLDERS' FUNDS

2,384,258

1,985,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19 December 2017 and were signed on its behalf by:

J B Slade - Director

1.	STATUTORY INFORMATION

Grosvenor House (Malvern) is a private company , 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment - 15% on reducing balance

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.

The investment property, for which fair value is able to be measured reliably without undue

cost or effort being incurred, is measured at fair value with changes in fair value being

reported in profit and loss. At the balance sheet date the fair value of the investment

property was £2,965,547 and the fair value movement of £464,467 was reported within

profit and loss for the year. The investment properties are valued on a gross rental yields

basis - 5% for residential properties and 9% for commercial premises, uplifted to 100%.

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.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences

are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2016

and 31 March 2017

4,473

DEPRECIATION

At 1 April 2016

4,203

Charge for year

239

At 31 March 2017

4,442

NET BOOK VALUE

At 31 March 2017

31

At 31 March 2016

270

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

2,500,800

Additions

280

Revaluations

464,467

At 31 March 2017

2,965,547

NET BOOK VALUE

At 31 March 2017

2,965,547

At 31 March 2016

2,500,800

The investment property was reclassified during the year from Tangible Fixed Assets to

Investment Property. There is no impact upon the financial results due to a balance sheet

reclassification only.

Fair value at 31 March 2017 is represented by:

£

Valuation in 2014

388,700

Valuation in 2017

464,467

Cost

2,112,380

2,965,547

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

as

restated

£

£

Other debtors

-

5,196

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

as

restated

£

£

Trade creditors

-

184

Taxation and social security

12,152

3,855

Other creditors

129,749

124,144

141,901

128,183

8.

RESERVES

Fair

value

reserve

£

At 1 April 2016

and 31 March 2017

1,542,856