Silverfin false false 31/07/2023 01/08/2022 31/07/2023 S Cooper 01/03/2015 S Grundy 22/09/2010 X L T Lindenmeyer 01/03/2015 11 April 2024 The principal activity of the Company during the financial year was that of property rental and re-furbishment and that of an investment company. 07384282 2023-07-31 07384282 bus:Director1 2023-07-31 07384282 bus:Director2 2023-07-31 07384282 bus:Director3 2023-07-31 07384282 2022-07-31 07384282 core:CurrentFinancialInstruments 2023-07-31 07384282 core:CurrentFinancialInstruments 2022-07-31 07384282 core:Non-currentFinancialInstruments 2023-07-31 07384282 core:Non-currentFinancialInstruments 2022-07-31 07384282 core:ShareCapital 2023-07-31 07384282 core:ShareCapital 2022-07-31 07384282 core:SharePremium 2023-07-31 07384282 core:SharePremium 2022-07-31 07384282 core:FurtherSpecificReserve3ComponentTotalEquity 2023-07-31 07384282 core:FurtherSpecificReserve3ComponentTotalEquity 2022-07-31 07384282 core:RetainedEarningsAccumulatedLosses 2023-07-31 07384282 core:RetainedEarningsAccumulatedLosses 2022-07-31 07384282 core:OtherResidualIntangibleAssets 2022-07-31 07384282 core:OtherResidualIntangibleAssets 2023-07-31 07384282 core:InvestmentPropertyIncludedWithinPPE 2022-07-31 07384282 core:InvestmentPropertyIncludedWithinPPE 2023-07-31 07384282 core:CostValuation 2022-07-31 07384282 core:AdditionsToInvestments 2023-07-31 07384282 core:CostValuation 2023-07-31 07384282 2021-07-31 07384282 bus:OrdinaryShareClass1 2023-07-31 07384282 2022-08-01 2023-07-31 07384282 bus:FilletedAccounts 2022-08-01 2023-07-31 07384282 bus:SmallEntities 2022-08-01 2023-07-31 07384282 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 07384282 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07384282 bus:Director1 2022-08-01 2023-07-31 07384282 bus:Director2 2022-08-01 2023-07-31 07384282 bus:Director3 2022-08-01 2023-07-31 07384282 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-08-01 2023-07-31 07384282 2021-08-01 2022-07-31 07384282 core:OtherResidualIntangibleAssets 2022-08-01 2023-07-31 07384282 core:InvestmentPropertyIncludedWithinPPE 2022-08-01 2023-07-31 07384282 core:Non-currentFinancialInstruments 2022-08-01 2023-07-31 07384282 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 07384282 bus:OrdinaryShareClass1 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07384282 (England and Wales)

STEPHEN GRUNDY LIMITED

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

STEPHEN GRUNDY LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

STEPHEN GRUNDY LIMITED

BALANCE SHEET

As at 31 July 2023
STEPHEN GRUNDY LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 789 2,416
Tangible assets 4 6,507,368 12,387,369
Investments 5 5,462,742 881,269
11,970,899 13,271,054
Current assets
Cash at bank and in hand 20,514 20,976
20,514 20,976
Creditors: amounts falling due within one year 6 ( 667,514) ( 436,580)
Net current liabilities (647,000) (415,604)
Total assets less current liabilities 11,323,899 12,855,450
Creditors: amounts falling due after more than one year 7 ( 928,129) ( 2,551,677)
Provision for liabilities 8, 9 ( 588,823) ( 897,797)
Net assets 9,806,947 9,405,976
Capital and reserves
Called-up share capital 10 12 12
Share premium account 3,422,652 3,422,652
Undistributable reserve 1,907,787 3,827,449
Profit and loss account 4,476,496 2,155,863
Total shareholder's funds 9,806,947 9,405,976

For the financial year ending 31 July 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 Stephen Grundy Limited (registered number: 07384282) were approved and authorised for issue by the Board of Directors on 11 April 2024. They were signed on its behalf by:

S Grundy
Director
STEPHEN GRUNDY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
STEPHEN GRUNDY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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

Stephen Grundy 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 Towngate House 2-8 Parkstone Road, Poole, BH15 2PW, 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 £.

Turnover

Turnover is stated gross of VAT, revenue from services is recognised as they are delivered.

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 4 years straight line
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, reducing balance] basis over its expected useful life, as follows:

Investment property not depreciated

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 Balance Sheet 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 3 3

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 August 2022 7,471 7,471
At 31 July 2023 7,471 7,471
Accumulated amortisation
At 01 August 2022 5,055 5,055
Charge for the financial year 1,627 1,627
At 31 July 2023 6,682 6,682
Net book value
At 31 July 2023 789 789
At 31 July 2022 2,416 2,416

4. Tangible assets

Investment property Total
£ £
Cost
At 01 August 2022 12,387,369 12,387,369
Disposals ( 5,880,001) ( 5,880,001)
At 31 July 2023 6,507,368 6,507,368
Accumulated depreciation
At 01 August 2022 0 0
At 31 July 2023 0 0
Net book value
At 31 July 2023 6,507,368 6,507,368
At 31 July 2022 12,387,369 12,387,369

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 August 2022 881,269 881,269
Additions 4,581,473 4,581,473
At 31 July 2023 5,462,742 5,462,742
Carrying value at 31 July 2023 5,462,742 5,462,742
Carrying value at 31 July 2022 881,269 881,269

The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The cost of the shares on acquisition was £5,462,742 . Other investments are held at cost less impairment because their fair value cannot be measured reliably.

The market value of the listed investments at 31 July 2023 was £5,443,128 (2022: £881,256).

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 99,961 312,098
Taxation and social security 509,830 55,069
Other creditors 57,723 69,413
667,514 436,580

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

2023 2022
£ £
Bank loans 928,129 2,551,677

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

8. Provision for liabilities

2023 2022
£ £
Deferred tax 588,823 897,797

9. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 897,797) ( 897,797)
Credited to the Statement of Income and Retained Earnings 308,974 0
At the end of financial year ( 588,823) ( 897,797)

10. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
12 Ordinary shares of £ 1.00 each 12 12