Grangewood Enterprises Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03998741 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

GRANGEWOOD ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Marsden

SECRETARY:

Mrs L Marsden

REGISTERED OFFICE:

74 Wimpole Street

London

W1G 9RR

REGISTERED NUMBER:

03998741 (England and Wales)

FIXED ASSETS

Intangible assets

4

4,000,000

4,000,000

Tangible assets

5

176,342

185,478

Investments

6

50

50

4,176,392

4,185,528

CURRENT ASSETS

Stocks

1,600

3,000

Debtors

7

3,199,470

3,324,139

Cash at bank

24,531

34,463

3,225,601

3,361,602

CREDITORS

Amounts falling due within one year

8

3,118,026

3,073,254

NET CURRENT ASSETS

107,575

288,348

TOTAL ASSETS LESS CURRENT LIABILITIES

4,283,967

4,473,876

CAPITAL AND RESERVES

Called up share capital

1,005

1,005

Share premium

3,741,991

3,741,991

Retained earnings

540,971

730,880

SHAREHOLDERS' FUNDS

4,283,967

4,473,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 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 director on 21 June 2018 and were signed by:

A Marsden - Director

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 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.

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Intangible Assets are being amortised evenly over their estimated useful life of nil years.

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 and associates

Investments in subsidiary and associate 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.

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 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 October 2016

and 30 September 2017

4,000,000

NET BOOK VALUE

At 30 September 2017

4,000,000

At 30 September 2016

4,000,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2016

and 30 September 2017

205,517

111,510

317,027

DEPRECIATION

At 1 October 2016

45,677

85,872

131,549

Charge for year

4,613

4,523

9,136

At 30 September 2017

50,290

90,395

140,685

NET BOOK VALUE

At 30 September 2017

155,227

21,115

176,342

At 30 September 2016

159,840

25,638

185,478

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2016

and 30 September 2017

50

NET BOOK VALUE

At 30 September 2017

50

At 30 September 2016

50

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

15,396

13,933

Amounts owed by group undertakings

1,050,517

1,005,417

Amounts owed by participating interests

1,316,156

1,227,904

Other debtors

817,401

1,076,885

3,199,470

3,324,139

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade creditors

655

1

Taxation and social security

-

810

Other creditors

3,117,371

3,072,443

3,118,026

3,073,254

9.	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 £2,589,202 (2016:£2,344,202).During the year under review the company has charged

management fees and other expenses totalling £41,938 (2016:£93,032) to Hartshead Square Developments

Limited.

Included in debtors falling due within one year is a balance of £242,198 (2016:£7,802) owed by Knight

Financial Consultants Limited.

Also included in other debtors falling due within one year is an amount of £64,924 (2016£48,034:) owed by

SFGE Properties Limited.

Included in creditors falling due within one year is a balance of £523,594 (2016:£723,666) owed to the director

of the company, A Marsden.

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 £1,316,156 (2016:£1,227,904) owed by Greenwood House Limited. Interest of £53,715

(2016:£56,662) has been charged on the loan.

10.	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 £4,682 (2016:£4,682) 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 £1,005,517 (2016:£1,005,417) owed by Junction 33 Development

(Holdings) Ltd.

The loans are interest free and are repayable on demand.