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REGISTERED NUMBER: 08818296 (England and Wales)















R GRIGGS & CO. LIMITED

Unaudited Financial Statements

for the Period 1 April 2022 to 30 June 2023






R GRIGGS & CO. LIMITED (REGISTERED NUMBER: 08818296)






Contents of the Financial Statements
for the period 1 April 2022 to 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R GRIGGS & CO. LIMITED

Company Information
for the period 1 April 2022 to 30 June 2023







DIRECTORS: Stephen W Griggs
Samuel W Griggs
Benjamin R Griggs
Howard M Johnstone





SECRETARY: Howard M Johnstone





REGISTERED OFFICE: Studio 2, Diamonds Business Centre
Nene Park
Attley Way
Irthlingborough
Northamptonshire
NN9 5GF





REGISTERED NUMBER: 08818296 (England and Wales)






R GRIGGS & CO. LIMITED (REGISTERED NUMBER: 08818296)

Balance Sheet
30 June 2023

30/6/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 70,813,602 70,027,985

CURRENT ASSETS
Debtors 5 7,541 -
Cash at bank and in hand 125,009 33,820
132,550 33,820
CREDITORS
Amounts falling due within one year 6 124,941 142,479
NET CURRENT ASSETS/(LIABILITIES) 7,609 (108,659 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,821,211

69,919,326

CREDITORS
Amounts falling due after more than one year 7 (52,871,086 ) (52,287,458 )

PROVISIONS FOR LIABILITIES (1,896,855 ) (327,000 )
NET ASSETS 16,053,270 17,304,868

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserve 6,855,263 9,077,390
Retained earnings 9,198,006 8,227,477
SHAREHOLDERS' FUNDS 16,053,270 17,304,868

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

R GRIGGS & CO. LIMITED (REGISTERED NUMBER: 08818296)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:




Howard M Johnstone - Director Samuel W Griggs - Director




Benjamin R Griggs - Director Stephen W Griggs - Director


R GRIGGS & CO. LIMITED (REGISTERED NUMBER: 08818296)

Notes to the Financial Statements
for the period 1 April 2022 to 30 June 2023

1. STATUTORY INFORMATION

R Griggs & Co. 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.

As at the balance sheet date the company's balance sheet shows net current liabilities. This is due in the main to a bank loan which is deemed repayable on demand and also investment management expenses having been accrued as at the balance sheet date which were charged to the portfolio after the balance sheet date. Given the value of the investment portfolio the directors consider that this is a short term timing difference and that the going concern basis of preparation is appropriate.

Significant judgements and estimates
The Directors exercise their expertise and judgement in the appointment of investment managers and the monitoring of their performance with regard to the company's investment portfolio.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

Investments
The company values its investments at fair value at each balance sheet date, such fair values being obtained by an annual report produced by the financial institution charged with managing such investments Any increase or decrease in fair value is taken initially to the profit and loss account..

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

R GRIGGS & CO. LIMITED (REGISTERED NUMBER: 08818296)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 June 2023

4. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30/6/23 31/3/22
£    £   
Fair value brought forward 70,027,985 52,701,790
Net additions/disposals
in the year 1,437,889 15,333,144
Adjustment to fair value (652,272 ) 1,993,051
70,813,602 70,027,985

The company has managed investment portfolios as at the balance sheet date these being held with HSBC Private Bank (UK) Limited and Rothschild Bank (CI) Limited.

The portfolios comprise a cross section of securities, bonds and cash and provide returns by way of dividend income, fixed interest from gilt-edged securities and capital gains from the regular purchase and sale of such stocks.

Each of the investment portfolios is valued as at 31 March each year by the respective institution at rates prevailing at the balance sheet date. Where the portfolio includes cash balances held with the fund managers these amounts have been included within the valuation of the respective portfolio as such liquid funds are used solely for investment purposes as opposed to any working capital requirements .

Any increase above the carrying value of the investments at book cost is taken to the fair value reserve at the balance sheet date so as to include the investment portfolios at their fair value as of the balance sheet date. Therefore the note discloses the net additions into the funds after all other transactions.

If fixed asset investments had not been included at their fair value as required by FRS 102 they would have been stated at historical cost of £63,226,170 (2022 : £64,811,363).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 31/3/22
£    £   
Other debtors 7,541 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 31/3/22
£    £   
Taxation and social security 78,907 79,709
Other creditors 46,034 62,770
124,941 142,479

Included in other creditors are loans from a Trust which are unsecured, carry no interest charge and are not subject to a formal agreement. Accordingly such loans are treated as repayable on demand and accounted for at cost less impairment.

The bank loan facility is subject to interest which the provider encompasses within the investment portfolio and offsets against the total investment income each period.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/6/23 31/3/22
£    £   
Other creditors 52,871,086 52,287,458

R GRIGGS & CO. LIMITED (REGISTERED NUMBER: 08818296)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 June 2023

8. RELATED PARTY DISCLOSURES

During the year the WM Griggs 1989 Settlement introduced funds by way of loans amounting to £200,000 which the company has used to make additional investments during the year.The company was charged £6,711 for management expenses during the year. As at the 31st March 2023 the amount owed to the Trust was £52,004,140 (2022 : £51,797,429 ). The loans carry no interest, are unsecured and have no set repayment date.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the W M Griggs 1989 Settlement, a trust of which the directors and their family have overall control.