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Financial Statements |
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for the Year Ended 31 August 2017 |
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for |
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Grange View Investments Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 August 2017 |
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for |
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Grange View Investments Limited |
Grange View Investments Limited (Registered number: 00209603) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Grange View Investments Limited |
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Company Information |
for the Year Ended 31 August 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Oriel House |
2-8 Oriel Road |
Bootle |
Liverpool |
Merseyside |
L20 7EP |
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SOLICITORS: |
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Horton House |
Exchange Flags |
Liverpool |
Merseyside |
L2 3YL |
Grange View Investments Limited (Registered number: 00209603) |
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Balance Sheet |
31 August 2017 |
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31.8.17 | 31.8.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash held by stockbroker | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Fair value reserve | 11 |
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Retained earnings | 11 |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Grange View Investments Limited (Registered number: 00209603) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2017 |
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1. | STATUTORY INFORMATION |
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Grange View Investments Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 31 August 2017 are the first that are prepared in accordance with |
FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date |
of transition to FRS 102 Section 1A is 1 September 2015. |
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Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax |
rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Investments |
Investments are held at fair value which is equal to the market value. Market value is based on the closing |
middle market price on a recognised stock exchange at the balance sheet date. Revaluation gains and losses |
are recognised in the profit and loss account. |
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Investment income |
Income comprises of the annual return on the company's fixed asset investment by way of dividends and |
interest. Interest income is recognised using the effective interest method and dividend income is recognised as |
the company's right to receive payment is established. The investments are managed by an external |
stockbroker. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL. |
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4. | FIXED ASSET INVESTMENTS |
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If fixed asset investments had not been revalued they would have been included at the following historical |
cost: |
31.8.17 | 31.8.16 |
£ | £ |
Cost | 1,264,382 | 1,294,883 |
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Fixed asset investments were valued on 31 August 2017 by Quilter Cheviot Ltd. The valuation was based upon |
the closing middle market price on a recognised stock exchange. |
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Grange View Investments Limited (Registered number: 00209603) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Other debtors |
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6. | CURRENT ASSET INVESTMENTS |
31.8.17 | 31.8.16 |
£ | £ |
Investment dealing account |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Other creditors |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Preference shares |
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9. | PROVISIONS FOR LIABILITIES |
31.8.17 | 31.8.16 |
£ | £ |
Deferred tax |
Other timing differences | 56,727 | 33,666 |
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Deferred |
tax |
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Balance at 1 September 2016 |
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Provided during year |
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Balance at 31 August 2017 |
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Deferred tax has been calculated on the expected capital gains / losses on fixed asset investments. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.17 | 31.8.16 |
value: | £ | £ |
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Ordinary shares | £1 | 10,000 | 10,000 |
Grange View Investments Limited (Registered number: 00209603) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
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11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 September 2016 |
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1,710,285 |
Profit for the year |
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Revaluation | (136,475 | ) | 136,475 | - |
Deferred tax | 23,061 | (23,061 | ) | - |
Transfer | (40,176 | ) | 40,176 | - |
At 31 August 2017 |
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1,833,979 |
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The transfer between retained earnings and fair value reserves relates to crystalised gains / losses. |