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REGISTERED NUMBER: 08878307 (England and Wales)















GRIGGS ESTATES LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2024






GRIGGS ESTATES LIMITED (REGISTERED NUMBER: 08878307)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRIGGS ESTATES LIMITED

Company Information
for the year ended 31 March 2024







DIRECTOR: Benjamin R Griggs





REGISTERED OFFICE: Studio 2, Diamonds Business Centre
Nene Park
Attley Way
Irthingborough
Northamptonshire
NN9 5GF





REGISTERED NUMBER: 08878307 (England and Wales)






GRIGGS ESTATES LIMITED (REGISTERED NUMBER: 08878307)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,533 29,282

CURRENT ASSETS
Debtors 5 52,463 143,567
Cash at bank 4,892 1,118
57,355 144,685
CREDITORS
Amounts falling due within one year 6 175,281 196,188
NET CURRENT LIABILITIES (117,926 ) (51,503 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(95,393

)

(22,221

)

CREDITORS
Amounts falling due after more than one year 7 12,146 17,543
NET LIABILITIES (107,539 ) (39,764 )

CAPITAL AND RESERVES
Called up share capital 75 75
Retained earnings (107,614 ) (39,839 )
SHAREHOLDERS' FUNDS (107,539 ) (39,764 )

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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2025 and were signed by:




Benjamin R Griggs - Director


GRIGGS ESTATES LIMITED (REGISTERED NUMBER: 08878307)

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

1. STATUTORY INFORMATION

Griggs Estates 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 at 31st March 2024, the company's balance sheet reflected an insolvent position, together with net current liabilities. However, included within creditors falling due within one year is an amount of £100,850 owed to the company director. The director has confirmed that these amounts will not be requested for repayment until such time as the company has sufficient funds available. In addition, the director is of the opinion that sufficient funds will be available to settle creditors when they fall due for payment. Accordingly, the director considers the going concern basis of preparation to be appropriate.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 9 (2023 - 3 ) .

GRIGGS ESTATES LIMITED (REGISTERED NUMBER: 08878307)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 38,566
Additions 400
At 31 March 2024 38,966
DEPRECIATION
At 1 April 2023 9,284
Charge for year 7,149
At 31 March 2024 16,433
NET BOOK VALUE
At 31 March 2024 22,533
At 31 March 2023 29,282

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 26,988
DEPRECIATION
At 1 April 2023 6,747
Charge for year 5,060
At 31 March 2024 11,807
NET BOOK VALUE
At 31 March 2024 15,181
At 31 March 2023 20,241

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 51,857 142,735
Other debtors 606 832
52,463 143,567

GRIGGS ESTATES LIMITED (REGISTERED NUMBER: 08878307)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts - 4,569
Hire purchase contracts 5,398 5,398
Trade creditors 37,075 32,920
Taxation and social security 25,771 14,758
Other creditors 107,037 138,543
175,281 196,188

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts 12,146 17,543