Silverfin false 31/01/2023 01/02/2022 31/01/2023 R Horwood 31/01/2020 G L Street 31/01/2020 02 February 2024 The principal activity of the Company during the financial year was that of hoteliers. 03630239 2023-01-31 03630239 bus:Director1 2023-01-31 03630239 bus:Director2 2023-01-31 03630239 2022-01-31 03630239 core:CurrentFinancialInstruments 2023-01-31 03630239 core:CurrentFinancialInstruments 2022-01-31 03630239 core:Non-currentFinancialInstruments 2023-01-31 03630239 core:Non-currentFinancialInstruments 2022-01-31 03630239 core:ShareCapital 2023-01-31 03630239 core:ShareCapital 2022-01-31 03630239 core:CapitalRedemptionReserve 2023-01-31 03630239 core:CapitalRedemptionReserve 2022-01-31 03630239 core:RetainedEarningsAccumulatedLosses 2023-01-31 03630239 core:RetainedEarningsAccumulatedLosses 2022-01-31 03630239 core:LandBuildings 2022-01-31 03630239 core:PlantMachinery 2022-01-31 03630239 core:FurnitureFittings 2022-01-31 03630239 core:OfficeEquipment 2022-01-31 03630239 core:LandBuildings 2023-01-31 03630239 core:PlantMachinery 2023-01-31 03630239 core:FurnitureFittings 2023-01-31 03630239 core:OfficeEquipment 2023-01-31 03630239 core:ImmediateParent core:CurrentFinancialInstruments 2023-01-31 03630239 core:ImmediateParent core:CurrentFinancialInstruments 2022-01-31 03630239 core:ImmediateParent core:Non-currentFinancialInstruments 2023-01-31 03630239 core:ImmediateParent core:Non-currentFinancialInstruments 2022-01-31 03630239 bus:OrdinaryShareClass1 2023-01-31 03630239 2022-02-01 2023-01-31 03630239 bus:FullAccounts 2022-02-01 2023-01-31 03630239 bus:SmallEntities 2022-02-01 2023-01-31 03630239 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 03630239 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 03630239 bus:Director1 2022-02-01 2023-01-31 03630239 bus:Director2 2022-02-01 2023-01-31 03630239 core:PlantMachinery 2022-02-01 2023-01-31 03630239 core:FurnitureFittings 2022-02-01 2023-01-31 03630239 core:OfficeEquipment 2022-02-01 2023-01-31 03630239 2021-02-01 2022-01-31 03630239 core:LandBuildings 2022-02-01 2023-01-31 03630239 core:LandBuildings 1 2022-02-01 2023-01-31 03630239 core:PlantMachinery 1 2022-02-01 2023-01-31 03630239 core:FurnitureFittings 1 2022-02-01 2023-01-31 03630239 core:OfficeEquipment 1 2022-02-01 2023-01-31 03630239 1 2022-02-01 2023-01-31 03630239 core:Non-currentFinancialInstruments 2022-02-01 2023-01-31 03630239 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 03630239 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03630239 (England and Wales)

GRYPHON LEISURE LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

GRYPHON LEISURE LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

GRYPHON LEISURE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 January 2023
GRYPHON LEISURE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,663,087 2,679,218
2,663,087 2,679,218
Current assets
Stocks 14,899 13,062
Debtors 4 168,008 57,543
Cash at bank and in hand 36,378 215,478
219,285 286,083
Creditors: amounts falling due within one year 5 ( 993,108) ( 811,690)
Net current liabilities (773,823) (525,607)
Total assets less current liabilities 1,889,264 2,153,611
Creditors: amounts falling due after more than one year 6 ( 726,452) ( 824,285)
Provision for liabilities ( 44,567) ( 48,236)
Net assets 1,118,245 1,281,090
Capital and reserves
Called-up share capital 7 81 81
Capital redemption reserve 19 19
Profit and loss account 1,118,145 1,280,990
Total shareholder's funds 1,118,245 1,281,090

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Gryphon Leisure Limited (registered number: 03630239) were approved and authorised for issue by the Director. They were signed on its behalf by:

R Horwood
Director

02 February 2024

GRYPHON LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
GRYPHON LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gryphon Leisure Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 84a High Street, Essex, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 15 % reducing balance
Fixtures and fittings 10 % reducing balance
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 76 59

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 February 2022 2,484,823 384,842 647,495 0 3,517,160
Additions 0 8,052 0 6,165 14,217
Cost @ 2020 0 0 0 0 0
At 31 January 2023 2,484,823 392,894 647,495 6,165 3,531,377
Accumulated depreciation
At 01 February 2022 0 296,504 541,438 0 837,942
Charge for the financial year 0 13,924 15,909 515 30,348
Dep'n @ 2020 0 0 0 0 0
At 31 January 2023 0 310,428 557,347 515 868,290
Net book value
At 31 January 2023 2,484,823 82,466 90,148 5,650 2,663,087
At 31 January 2022 2,484,823 88,338 106,057 0 2,679,218

4. Debtors

2023 2022
£ £
Trade debtors 67,222 29,877
Amounts owed by Parent undertakings 41,559 0
Prepayments 31,381 15,012
Other debtors 27,846 12,654
168,008 57,543

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 157,570 66,609
Taxation and social security 144,835 175,973
Other creditors 690,703 569,108
993,108 811,690

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to Parent undertakings 0 104,358
Other creditors 726,452 719,927
726,452 824,285

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
81 Ordinary shares of £ 1.00 each 81 81