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REGISTERED NUMBER: 10965426 (England and Wales)












Grinlow Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






Grinlow Limited (Registered number: 10965426)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Grinlow Limited

Company Information
for the Year Ended 29 February 2024







Directors: J B Diggines
Mrs S C Diggines





Registered office: 27 Planetree Road
Hale
Altrincham
Cheshire
WA15 9JN





Registered number: 10965426 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Grinlow Limited (Registered number: 10965426)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
Fixed assets
Investment property 4 930,000 800,917

Current assets
Cash at bank 33,912 19,330

Creditors
Amounts falling due within one year 5 11,804 16,070
Net current assets 22,108 3,260
Total assets less current liabilities 952,108 804,177

Creditors
Amounts falling due after more than one year 6 (700,000 ) (700,000 )

Provisions for liabilities (50,061 ) (13,520 )
Net assets 202,047 90,657

Capital and reserves
Called up share capital 7 500 500
Fair value reserve 8 150,182 57,640
Retained earnings 51,365 32,517
Shareholders' funds 202,047 90,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Grinlow Limited (Registered number: 10965426)

Balance Sheet - continued
29 February 2024


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 24 September 2024 and were signed on its behalf by:





Mrs S C Diggines - Director


Grinlow Limited (Registered number: 10965426)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. Statutory information

Grinlow 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

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.


Grinlow Limited (Registered number: 10965426)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. Accounting policies - continued
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.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Investment property
Total
£   
Fair value
At 1 March 2023 800,917
Valuation changes 129,083
At 29 February 2024 930,000
Net book value
At 29 February 2024 930,000
At 28 February 2023 800,917

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 930,000

If investment properties had not been revalued they would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 729,757 729,757

Investment properties were valued on an open market basis on 28 February 2024 by the directors .

Grinlow Limited (Registered number: 10965426)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. Creditors: amounts falling due within one year
29.2.24 28.2.23
£    £   
Taxation and social security 4,057 -
Other creditors 7,747 16,070
11,804 16,070

6. Creditors: amounts falling due after more than one year
29.2.24 28.2.23
£    £   
Other creditors 700,000 700,000

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 700,000 700,000

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
100 Ordinary C £1 100 100
100 Ordinary D £1 100 100
100 Ordinary E £1 100 100
500 500

8. Reserves
Fair
value
reserve
£   
At 1 March 2023 57,640
Transfer from retained earnings 92,542

At 29 February 2024 150,182