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REGISTERED NUMBER: 12201423 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

GRIGGS (RADLETT) LIMITED

GRIGGS (RADLETT) LIMITED (REGISTERED NUMBER: 12201423)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


GRIGGS (RADLETT) LIMITED

Company Information
for the Year Ended 30 September 2023







DIRECTORS: J L Craig
R L Griggs
C J Griggs





REGISTERED OFFICE: The Grain Yard
5 Little Hays
Borehamwood
Hertfordshire
WD6 4DG





REGISTERED NUMBER: 12201423 (England and Wales)






GRIGGS (RADLETT) LIMITED (REGISTERED NUMBER: 12201423)

Statement of Financial Position
30 September 2023

30.9.23 30.9.22
Notes £    £   
CURRENT ASSETS
Stocks 4 2,377,140 4,951,471
Debtors 5 504,666 266,905
Cash at bank 7,067 300,584
2,888,873 5,518,960
CREDITORS
Amounts falling due within one year 6 (2,888,730 ) (5,518,753 )
NET CURRENT ASSETS 143 207
TOTAL ASSETS LESS CURRENT
LIABILITIES

143

207

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 43 107
SHAREHOLDERS' FUNDS 143 207

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

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

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 1 May 2024 and were signed on its behalf by:





C J Griggs - Director


GRIGGS (RADLETT) LIMITED (REGISTERED NUMBER: 12201423)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Griggs (Radlett) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Judgements in respect of cost and valuation of freehold land and buildings have had the most significant effects on amounts recognised in the financial statements.

Turnover
Group turnover represents the value of rental income chargeable in respect of the company's investment property excluding value added tax.

Turnover is recognised evenly over the period of the rental agreements.

Investments in associates
Investments in associate undertakings are recognised at cost less impairment.

Investment property
Investment property is included at fair value. Any gains or losses arising from changes in fair value recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

GRIGGS (RADLETT) LIMITED (REGISTERED NUMBER: 12201423)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset , with 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and
preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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 statement of financial position date.


GRIGGS (RADLETT) LIMITED (REGISTERED NUMBER: 12201423)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The company has the financial support from its shareholders and lenders and has sufficient resources to enable it to remain in business in the foreseeable future, therefore the financial statements have been prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. STOCKS
30.9.23 30.9.22
£    £   
Work-in-progress 2,377,140 4,951,471

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors - 1,209
Amounts owed by participating interests - 232,756
Other debtors 504,666 32,940
504,666 266,905

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 9,303 353,238
Taxation and social security 2,427 25
Other creditors 2,877,000 5,165,490
2,888,730 5,518,753

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Share capital 1 £1 100 100

GRIGGS (RADLETT) LIMITED (REGISTERED NUMBER: 12201423)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. RELATED PARTY DISCLOSURES

Included in Debtors is an amount of £469,190 (2022 - £160,000) due from a related company.

Included in creditors is an amount of £200,000 (2022 - £nil) due to a related company.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Griggs Holdings Limited.