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REGISTERED NUMBER: 03853993 (England and Wales)















GRINDCO 267 LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






GRINDCO 267 LIMITED (REGISTERED NUMBER: 03853993)

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


GRINDCO 267 LIMITED (REGISTERED NUMBER: 03853993)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Investments 5 605,447 605,447

CURRENT ASSETS
Debtors 6 9,472 9,682
Cash at bank 100 92
9,572 9,774
CREDITORS
Amounts falling due within one year 7 (64,567 ) (64,567 )
NET CURRENT LIABILITIES (54,995 ) (54,793 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

550,452

550,654

CAPITAL AND RESERVES
Called up share capital 200,000 200,000
Retained earnings 350,452 350,654
550,452 550,654

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





D W Norwood - Director


GRINDCO 267 LIMITED (REGISTERED NUMBER: 03853993)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Grindco 267 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03853993

Registered office: 262 Cobridge Road
Hanley
Stoke on Trent
Staffordshire
ST1 5JU

The principal activity of the company during the year was that of a holding company.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Grindco 267 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

GRINDCO 267 LIMITED (REGISTERED NUMBER: 03853993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

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.

IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs.

4. EMPLOYEES AND DIRECTORS

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 605,447
NET BOOK VALUE
At 31 December 2023 605,447
At 31 December 2022 605,447

The company owns 50% of the issued Ordinary share capital of Hilbury Holdings Limited, and indirectly owns 50% of the issued Ordinary share capital in Ken Jervis Limited. Both companies are registered in England and Wales. Ken Jervis Limited operates in the motor industry and Hilbury Holdings Limited is an intermediary holding company.

GRINDCO 267 LIMITED (REGISTERED NUMBER: 03853993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 9,472 9,682

Amounts owed by group undertakings and participating interest are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to participating interests 3,436 3,436
Other creditors 61,131 61,131
64,567 64,567

Amounts owed to group undertakings and participating interests are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

A debenture dated 20 January 2000 exists in favour of Hsbc Bank PLC over the facilities in place, incorporating a fixed and floating charge over all assets present and future.

8. POST BALANCE SHEET EVENTS

There were no significant events up to the date of approval of the financial statements by the Board.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by Goodwood Investments (Isle of Man) Limited by virtue of its shareholding in the company.