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REGISTERED NUMBER: 03306600 (England and Wales)














Financial Statements

for the Year Ended 31 March 2024

for

EDDY GRIMSTEAD GROUP LIMITED

EDDY GRIMSTEAD GROUP LIMITED (REGISTERED NUMBER: 03306600)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EDDY GRIMSTEAD GROUP LIMITED

Company Information
for the year ended 31 March 2024







Director: Mr G E H Grimstead



Secretary: Mrs J D Grimstead



Registered office: 22 Tyle Green
Hornchurch
Essex
RM11 2TB



Registered number: 03306600 (England and Wales)



Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA



Solicitors: Edwards Duthie
9/15 York Road
Ilford
Essex
IG1 3AD

EDDY GRIMSTEAD GROUP LIMITED (REGISTERED NUMBER: 03306600)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 105,335 138,598
Investment property 5 6,140,000 4,390,000
6,245,335 4,528,598

Current assets
Debtors 6 1,115 892
Cash at bank 62,482 54,393
63,597 55,285
Creditors
Amounts falling due within one year 7 850,211 861,953
Net current liabilities (786,614 ) (806,668 )
Total assets less current liabilities 5,458,721 3,721,930

Creditors
Amounts falling due after more than one
year

8

2,097,735

2,117,496
Net assets 3,360,986 1,604,434

Capital and reserves
Called up share capital 9 13,780 13,780
Revaluation reserve 3,116,000 1,366,000
Capital redemption reserve 12,520 12,520
Retained earnings 218,686 212,134
Shareholders' funds 3,360,986 1,604,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

EDDY GRIMSTEAD GROUP LIMITED (REGISTERED NUMBER: 03306600)

Statement of Financial Position - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2024 and were signed by:





Mr G E H Grimstead - Director


EDDY GRIMSTEAD GROUP LIMITED (REGISTERED NUMBER: 03306600)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Eddy Grimstead Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


EDDY GRIMSTEAD GROUP LIMITED (REGISTERED NUMBER: 03306600)

Notes to the Financial Statements - continued
for the year ended 31 March 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 statement of financial position 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 3 (2023 - 3 ) .

4. Tangible fixed assets
Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 April 2023 167,244 3,500 170,744
Additions - 1,449 1,449
Disposals - (500 ) (500 )
At 31 March 2024 167,244 4,449 171,693
Depreciation
At 1 April 2023 31,729 417 32,146
Charge for year 33,448 889 34,337
Eliminated on disposal - (125 ) (125 )
At 31 March 2024 65,177 1,181 66,358
Net book value
At 31 March 2024 102,067 3,268 105,335
At 31 March 2023 135,515 3,083 138,598

5. Investment property
Total
£   
Fair value
At 1 April 2023 4,390,000
Revaluations 1,750,000
At 31 March 2024 6,140,000
Net book value
At 31 March 2024 6,140,000
At 31 March 2023 4,390,000

EDDY GRIMSTEAD GROUP LIMITED (REGISTERED NUMBER: 03306600)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. Investment property - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2020 1,011,000
Valuation in 2021 355,000
Valuation in 2024 1,750,000
Cost 3,024,000
6,140,000

The investment properties were valued by Kemsley LLP in March 24 at £6,140,000.

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 1,115 892

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 19,760 19,760
Taxation and social security 41,479 33,223
Other creditors 788,972 808,970
850,211 861,953

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 2,000,000 2,000,000
Hire purchase contracts 97,735 117,496
2,097,735 2,117,496

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
13,780 A Ordinary 50p 6,890 6,890
13,780 B Ordinary 50p 6,890 6,890
13,780 13,780