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REGISTERED NUMBER: 09014546 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

GRYPHON PROPERTY LIMITED

GRYPHON PROPERTY LIMITED (REGISTERED NUMBER: 09014546)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

GRYPHON PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: J D Ross
H S Ross





REGISTERED OFFICE: 22 Compass Point Ensign Way
Hamble
Southampton
Hampshire
SO31 4RA





REGISTERED NUMBER: 09014546 (England and Wales)





ACCOUNTANTS: Hamble Accountancy Ltd
9 Kingfisher Close
Hamble
Southampton
SO31 4PE

GRYPHON PROPERTY LIMITED (REGISTERED NUMBER: 09014546)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,676 1,440
Investment property 5 1,644,845 1,637,278
1,646,521 1,638,718

CURRENT ASSETS
Debtors 6 185 8,012
Cash in hand 28,455 529,367
28,640 537,379
CREDITORS
Amounts falling due within one year 7 667,798 941,592
NET CURRENT LIABILITIES (639,158 ) (404,213 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,007,363

1,234,505

CREDITORS
Amounts falling due after more than one
year

8

(559,422

)

(762,264

)

PROVISIONS FOR LIABILITIES (45,995 ) (45,950 )
NET ASSETS 401,946 426,291

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 401,944 426,289
SHAREHOLDERS' FUNDS 401,946 426,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

GRYPHON PROPERTY LIMITED (REGISTERED NUMBER: 09014546)

BALANCE SHEET - continued
30 JUNE 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:




J D Ross - Director



H S Ross - Director


GRYPHON PROPERTY LIMITED (REGISTERED NUMBER: 09014546)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Gryphon Property 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 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Gryphon Property Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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.

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.

GRYPHON PROPERTY LIMITED (REGISTERED NUMBER: 09014546)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 7,374
Additions 1,387
At 30 June 2023 8,761
DEPRECIATION
At 1 July 2022 5,934
Charge for year 1,151
At 30 June 2023 7,085
NET BOOK VALUE
At 30 June 2023 1,676
At 30 June 2022 1,440

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 1,637,278
Additions 15,035
Impairments (7,468 )
At 30 June 2023 1,644,845
NET BOOK VALUE
At 30 June 2023 1,644,845
At 30 June 2022 1,637,278

The fair value of the investment properties was arrived at on an open market value basis by reference to market evidence for similar commercial and residential buy to let properties. The valuation at the year end was made by the Directors.

GRYPHON PROPERTY LIMITED (REGISTERED NUMBER: 09014546)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2019 222,363
Valuation in 2020 53,712
Valuation in 2021 1,173
Valuation in 2022 (25,304 )
Valuation in 2022 (7,468 )
Cost 1,400,369
1,644,845

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 185 8,012

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 8,889 17,602
Trade creditors 1,431 -
Taxation and social security 739 40,661
Other creditors 656,739 883,329
667,798 941,592

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 559,422 762,264

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 542,385 696,541

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank Loans 542,385 745,050

The bank loans are secured by fixed charges over three of the investment properties which have an aggregate fair value of £725,000 (2022 £1,432,278).

GRYPHON PROPERTY LIMITED (REGISTERED NUMBER: 09014546)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
J D Ross
Balance outstanding at start of year (453,334 ) (659,419 )
Amounts advanced 242,445 259,992
Amounts repaid (16,569 ) (53,907 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (227,458 ) (453,334 )

H S Ross
Balance outstanding at start of year (412,188 ) (385,088 )
Amounts advanced 800 -
Amounts repaid (600 ) (27,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (411,988 ) (412,188 )

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GRYPHON PROPERTY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gryphon Property Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Gryphon Property Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gryphon Property Limited and state those matters that we have agreed to state to the Board of Directors of Gryphon Property Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gryphon Property Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gryphon Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Gryphon Property Limited. You consider that Gryphon Property Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gryphon Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hamble Accountancy Ltd
9 Kingfisher Close
Hamble
Southampton
SO31 4PE


10 October 2023