Ground Rent Ltd - Accounts to registrar (filleted) - small 22.3

Ground Rent Ltd - Accounts to registrar (filleted) - small 22.3

GROUND RENT LTD - Company Information

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REGISTERED NUMBER: 10401504 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

FOR

GROUND RENT LTD
GROUND RENT LTD (REGISTERED NUMBER: 10401504)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GROUND RENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2022







DIRECTORS: Mr P Thomson
Mr A G Haines





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 10401504 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES
Page 1
GROUND RENT LTD (REGISTERED NUMBER: 10401504)

STATEMENT OF FINANCIAL POSITION
31 MAY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 22,600 45,479

CURRENT ASSETS
Stocks 2,400 2,200
Debtors 5 46,000 4,100
Cash at bank 9,245 38
57,645 6,338
CREDITORS
Amounts falling due within one year 6 39,269 12,526
NET CURRENT ASSETS/(LIABILITIES) 18,376 (6,188 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
40,976
39,291

CREDITORS
Amounts falling due after more than one
year
7
39,995
41,667
NET ASSETS/(LIABILITIES) 981 (2,376 )

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 979 (2,378 )
SHAREHOLDERS' FUNDS 981 (2,376 )

The notes form part of these financial statements

Page 2 continued...
GROUND RENT LTD (REGISTERED NUMBER: 10401504)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2022 and were signed on its behalf by:





Mr P Thomson - Director


The notes form part of these financial statements

Page 3
GROUND RENT LTD (REGISTERED NUMBER: 10401504)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022


1. STATUTORY INFORMATION

Ground Rent Ltd 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.

INVESTMENTS IN SUBSIDIARIES AND ASSOCIATES
Investments in subsidiary undertakings (Jetopa Ltd) 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
Cost
At 1 June 2021 22,600 22,879 45,479
Disposals - (22,879 ) (22,879 )
At 31 May 2022 22,600 - 22,600
Net book value
At 31 May 2022 22,600 - 22,600
At 31 May 2021 22,600 22,879 45,479

Page 4 continued...
GROUND RENT LTD (REGISTERED NUMBER: 10401504)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 46,000 4,100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 5,500 8,333
Amounts owed to group undertakings 26,799 600
Tax 6,417 3,093
Accruals and deferred income 553 500
39,269 12,526

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 29,995 31,667
39,995 41,667

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2 Ordinary £1 2 2

Page 5