Company registration number 3059951 (England and Wales)
WILLIAM GRACE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
WILLIAM GRACE HOLDINGS LIMITED
COMPANY INFORMATION
Directors
A Iley
C Iley
Company number
3059951
Registered office
c/o Gravita Oxford LLP
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
Accountants
Gravita Audit Oxford LLP
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
WILLIAM GRACE HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WILLIAM GRACE HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 1 -
31 May 2024
30 June 2023
Notes
£
£
£
£
Fixed assets
Investments
2
22,900
22,900
Current assets
Debtors
4
100,577
397,501
Cash at bank and in hand
384,666
52,817
485,243
450,318
Creditors: amounts falling due within one year
5
(606)
-
0
Net current assets
484,637
450,318
Total assets less current liabilities
507,537
473,218
Creditors: amounts falling due after more than one year
6
(23,429)
(23,429)
Net assets
484,108
449,789
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
484,008
449,689
Total equity
484,108
449,789

For the financial Period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 February 2025 and are signed on its behalf by:
A Iley
Director
Company registration number 3059951 (England and Wales)
WILLIAM GRACE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

William Grace Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Gravita Oxford LLP, First Floor, Park Central, 40-41 Park End Street, Oxford, OX1 1JD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

1.3
Reporting period

During the current financial period, the Board made the decision to change the accounting year end to 31 May. In order to achieve this, it was decided to prepare accounts for the eleven months to 31 May 2024, as permitted under section 391(5) of the Companies Act 2006. The previous period is for the 12 months to 30 June 2023 and as such the two periods are not entirely comparable.

1.4
Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

WILLIAM GRACE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

1.7
Share capital
Ordrinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
1.8
Dividends
Dividend distribution to the company's shareholders is recognised as a liabilty in the financial statements in the reporting period in which the dividends are declared.
2
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
22,900
22,900
3
Subsidiaries

Details of the company's subsidiaries at 31 May 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
GBC (Speciality Chemicals) Limited
First Floor, Park Central, 40-41 Park End Street, Oxford, OX1 1JD
Ordinary shares
65.00
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
100,577
397,501
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
606
-
0
0
WILLIAM GRACE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 4 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
23,429
23,429
7
Events after the reporting date

After the period end date the remaining 35% shares of GBC (Speciality Chemicals) Ltd were purchased. William Grace Holdings now owns 100% of the subsidiary.

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