2023-03-012024-02-292024-02-29false11835673GRIFFIN ESTATES (ESSEX) 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GRIFFIN ESTATES (ESSEX) LTD

Registered Number
11835673
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

GRIFFIN ESTATES (ESSEX) LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

GRIFFIN, Darren Thomas
GRIFFIN, Lynne Mary

Registered Address

36 Glendale
South Woodham Ferrers
Chelmsford
CM3 5TS

Registered Number

11835673 (England and Wales)
GRIFFIN ESTATES (ESSEX) LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property5330,000245,000
330,000245,000
Current assets
Cash at bank and on hand13,74910,145
13,74910,145
Creditors amounts falling due within one year6(107,793)(107,408)
Net current assets (liabilities)(94,044)(97,263)
Total assets less current liabilities235,956147,737
Creditors amounts falling due after one year7(169,673)(169,673)
Provisions for liabilities8(17,850)-
Net assets48,433(21,936)
Capital and reserves
Called up share capital100100
Other reserves67,150-
Profit and loss account(18,817)(22,036)
Shareholders' funds48,433(21,936)
The financial statements were approved and authorised for issue by the Board of Directors on 25 September 2024, and are signed on its behalf by:
GRIFFIN, Darren Thomas
Director
GRIFFIN, Lynne Mary
Director

Registered Company No. 11835673
GRIFFIN ESTATES (ESSEX) LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year00
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets
5.Investment property

£
Fair value at 01 March 23245,000
Fair value adjustments85,000
At 29 February 24330,000
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts106,893106,508
Accrued liabilities and deferred income900900
Total107,793107,408
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts169,673169,673
Total169,673169,673
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)17,850-
Total17,850-