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Registered number:
03033804
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GROSVENOR PLACE HOLDINGS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
These financial statements have not been audited as the company is exempt under s477 of the Companies Act 2006 from the requirement to obtain an audit of its financial statements.
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GROSVENOR PLACE HOLDINGS LIMITED
REGISTERED NUMBER:
03033804
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
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CREDITORS:
amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS:
amounts falling due after more than one year
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act")
and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 September 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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GROSVENOR PLACE HOLDINGS LIMITED
ABBREVIATED BALANCE SHEET
(continued)
AS AT
30 SEPTEMBER 2016
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 3 to 6 form part of these financial statements.
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GROSVENOR PLACE HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
1.
ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of investment properties
and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015)
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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.
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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.
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TANGIBLE FIXED ASSETS AND DEPRECIATION
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Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Investments held as fixed assets are shown at cost less provision for impairment.
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Investment properties are included in the Balance Sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.
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STOCKS AND WORK IN PROGRESS
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Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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Page 3
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GROSVENOR PLACE HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
2.
TANGIBLE FIXED ASSETS
3.
INVESTMENT PROPERTY
The 2016 valuations were made by the director, on an open market value for existing use basis.
4.
INVESTMENT PROPERTY
The 2016 valuations were made by the director, on an open market value for existing use basis.
The 2016 valuations were made by the director, on an open market value for existing use basis.
Page 4
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GROSVENOR PLACE HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
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At 30 September 2016
Depreciation
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At 30 September 2016
Net historical cost value
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5.
FIXED ASSET INVESTMENTS
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At 1 October 2015 and 30 September 2016
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SUBSIDIARY UNDERTAKINGS
The following were subsidiary undertakings of the company:
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Spinney Developments (Bath) Limited
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Spinney Developments (Bath) Limited
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Acquisition of land for future development
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16 Queen Square, Bristol, BS1 4NT
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Page 5
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GROSVENOR PLACE HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
5.
FIXED ASSET INVESTMENTS (continued)
The aggregate of the share capital and reserves as at 30 September 2016 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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Spinney Developments (Bath) Limited
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6.
CREDITORS:
AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Creditors include amounts not wholly repayable within 5 years as follows:
The bank loan is secured against the assets of the company.
7.
SHARE CAPITAL
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ALLOTTED, CALLED UP AND FULLY PAID
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100
Ordinary
shares of £
1
each
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Page 6
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