Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30No description of principal activityfalse3false2023-06-26The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue 14961320 2023-06-25 14961320 2023-06-26 2024-06-30 14961320 2024-06-30 14961320 2022-06-26 2023-06-25 14961320 c:Director1 2023-06-26 2024-06-30 14961320 c:Director2 2023-06-26 2024-06-30 14961320 d:FreeholdInvestmentProperty 2023-06-26 2024-06-30 14961320 d:FreeholdInvestmentProperty 2024-06-30 14961320 d:CurrentFinancialInstruments 2024-06-30 14961320 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14961320 d:ShareCapital 2023-06-26 2024-06-30 14961320 d:ShareCapital 2024-06-30 14961320 d:RetainedEarningsAccumulatedLosses 2023-06-26 2024-06-30 14961320 d:RetainedEarningsAccumulatedLosses 2024-06-30 14961320 c:FRS102 2023-06-26 2024-06-30 14961320 c:AuditExempt-NoAccountantsReport 2023-06-26 2024-06-30 14961320 c:FullAccounts 2023-06-26 2024-06-30 14961320 c:PrivateLimitedCompanyLtd 2023-06-26 2024-06-30 14961320 d:WithinOneYear 2024-06-30 14961320 d:BetweenOneFiveYears 2024-06-30 14961320 e:PoundSterling 2023-06-26 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 14961320


GRIFO DEVELOPMENT TORRINGTON LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2024

 
GRIFO DEVELOPMENT TORRINGTON LIMITED
REGISTERED NUMBER: 14961320

BALANCE SHEET
AS AT 30 JUNE 2024

2024
Note
£

Fixed assets
  

Investment property
 4 
3,514,418

  
3,514,418

Current assets
  

Debtors: amounts falling due within one year
 5 
250,087

  
250,087

Creditors: amounts falling due within one year
 6 
(3,779,024)

Net current (liabilities)/assets
  
 
 
(3,528,937)

Total assets less current liabilities
  
(14,519)

  

Net (liabilities)/assets
  
(14,519)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(14,619)

  
(14,519)


Page 1

 
GRIFO DEVELOPMENT TORRINGTON LIMITED
REGISTERED NUMBER: 14961320
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Stephen James Groves
................................................
Matthew Bates
Director
Director
Date: 26 March 2025
Date:26 March 2025

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
GRIFO DEVELOPMENT TORRINGTON LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period
-
(14,619)
(14,619)
Total comprehensive income for the period
-
(14,619)
(14,619)


Contributions by and distributions to owners

Shares issued during the period
100
-
100


Total transactions with owners
100
-
100


At 30 June 2024
100
(14,619)
(14,519)

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
GRIFO DEVELOPMENT TORRINGTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Grifo Development Torrington Limited is a private company limited by share capital, incorporated in England and Wales, with registration number 14961320. The registered office is 1 Vincent Square, London, SW1P 2PN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The Balance Sheet shows negative shareholders funds of £14,519 however, the accounts have been
prepared on a Going Concern Basis as the directors are willing to support the company for a minimum period of 12 months from the date of approval of these accounts. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 4

 
GRIFO DEVELOPMENT TORRINGTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 3.


4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
3,514,418



At 30 June 2024
3,514,418

The directors consider that the market value is in excess of the historic cost value and that no impairment
is needed.




Page 5

 
GRIFO DEVELOPMENT TORRINGTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

5.


Debtors

2024
£


Trade debtors
1,865

Amounts owed by group undertakings
205,343

Other debtors
25,453

Prepayments and accrued income
17,426

250,087



6.


Creditors: Amounts falling due within one year

2024
£

Debenture loans
3,500,000

Trade creditors
52,272

Amounts owed to group undertakings
93,903

Accruals and deferred income
132,849

3,779,024


The following liabilities were secured:

2024
£



Debenture loans
3,500,000

3,500,000

Details of security provided:

The debenture loans above are secured in favour of Clockhouse Limited, Osirieon Limited and A Muirhead who are shareholders of Grifo Developments Limited by way of a fixed and floating charge over the assets of the company.  The debenture loans accrue a 12% coupon payable at maturity.

Page 6

 
GRIFO DEVELOPMENT TORRINGTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

7.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
£


Not later than 1 year
96,420

Later than 1 year and not later than 5 years
152,660

249,080


8.


Controlling party

The controlling party is Grifo Developments Limited by virtue of it's 100% shareholding.

 
Page 7