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REGISTERED NUMBER: 09352464 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Grip South Limited

Grip South Limited (Registered number: 09352464)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Grip South Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: A Murphy





REGISTERED OFFICE: Building 6000 Langstone Technology Park
Langstone Road
Havant
Hampshire
PO9 1SA





REGISTERED NUMBER: 09352464 (England and Wales)





ACCOUNTANTS: AM-PM Accounting Solutions Limited
Building 6000
Langstone Technology Park
Langstone Road
Havant
Hampshire
PO9 1SA

Grip South Limited (Registered number: 09352464)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 108,675 67,000

CURRENT ASSETS
Debtors 5 17,843 27,211
Cash at bank 58,213 108,523
76,056 135,734
CREDITORS
Amounts falling due within one year 6 926 918
NET CURRENT ASSETS 75,130 134,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

183,805

201,816

PROVISIONS FOR LIABILITIES 20,648 13,306
NET ASSETS 163,157 188,510

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 163,154 188,507
163,157 188,510

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Grip South Limited (Registered number: 09352464)

Balance Sheet - continued
31 December 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 director and authorised for issue on 5 March 2024 and were signed by:





A Murphy - Director


Grip South Limited (Registered number: 09352464)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Grip South 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Grip South Limited (Registered number: 09352464)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 214,621
Additions 77,900
At 31 December 2023 292,521
DEPRECIATION
At 1 January 2023 147,621
Charge for year 36,225
At 31 December 2023 183,846
NET BOOK VALUE
At 31 December 2023 108,675
At 31 December 2022 67,000

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 111,950
DEPRECIATION
At 1 January 2023 92,701
Charge for year 4,812
At 31 December 2023 97,513
NET BOOK VALUE
At 31 December 2023 14,437
At 31 December 2022 19,249

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 7,846 11,666
Other debtors 9,997 15,545
17,843 27,211

Grip South Limited (Registered number: 09352464)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1 8
Other creditors 925 910
926 918

7. RELATED PARTY DISCLOSURES

The company is also under common control with AJ&MJ Plant (Sales) Limited. Grip South Limited purchased £77,900.00 of goods from the company. These transactions were made at fair value.

8. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.