REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
STUART GRAHAM LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
STUART GRAHAM LIMITED |
STUART GRAHAM LIMITED (REGISTERED NUMBER: 04161455) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 2 | to | 4 |
STUART GRAHAM LIMITED (REGISTERED NUMBER: 04161455) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
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. |
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 |
STUART GRAHAM LIMITED (REGISTERED NUMBER: 04161455) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
STUART GRAHAM LIMITED is a |
Registered number: |
Registered office: |
At 1 January 2018, the company hived up the trade to Holdcroft Honda Limited. The principal activity of the company was previously that of motor vehicle sales, motor vehicle servicing, motor vehicle repairs and motor vehicle parts sales. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The financial statements have been prepared on the historical cost basis. |
The financial statements are prepared in sterling, which is the functional currency of the entity. |
The company was dormant throughout the current year and previous year. |
STUART GRAHAM LIMITED (REGISTERED NUMBER: 04161455) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
3. | ACCOUNTING POLICIES - continued |
FINANCIAL INSTRUMENTS |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Amounts owed by group undertakings |
Amounts owed by group undertakings are unsecured, interest free, and are repayable on demand. |
6. | CONTINGENCIES |
The company is party to a cross guarantee (unlimited) dated 26 February 1997 between T G Holdcroft (Holdings)Limited, T G Holdcroft (Newcastle) Limited, Holdcroft Renault Limited, Hanley Realisations Limited, Holdcroft Honda Limited, Holdcroft North Staffs Limited, TMK Finance Limited, T G Holdcroft (Motors) Limited, Stuart Graham Limited, Holdcroft Properties Limited, HP2011 Limited, Holdcroft Nissan Limited, Holdcroft Hyundai Limited and ALM Garages Limited. The company is also party to an additional cross guarantee dated 15 November 2013 to include HP 2011 Limited. The total indebtedness to the bank at 31 December 2023 was £16,059,640 (31 December 2022: £11,002,989). |
In addition the company has a fixed and floating charge debenture over the whole of its assets in favour of T G Holdcroft (Holdings) Limited |
STUART GRAHAM LIMITED (REGISTERED NUMBER: 04161455) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | RELATED PARTY DISCLOSURES |
The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies as the subsidiary is a wholly owned member, and the group financial statements in which this subsidiary is included are publicly available. |
8. | EVENTS AFTER THE END OF THE REPORTING PERIOD |
There were no material events after the end of the reporting period up to the date of approval of the financial statements by the Board. |
9. | ULTIMATE CONTROLLING PARTY |
The company regards Holdcroft Honda Limited, a company registered in England and Wales, as its immediate parent undertaking. |
The company regards T. G. Holdcroft (Holdings) Limited, a company registered in England and Wales, as its ultimate parent undertaking. The consolidated financial statements can be obtained from www.beta.companieshouse.gov.uk. |