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REGISTERED NUMBER: 04834100 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

GRINDCO 427 LIMITED

GRINDCO 427 LIMITED (REGISTERED NUMBER: 04834100)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 6


GRINDCO 427 LIMITED (REGISTERED NUMBER: 04834100)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

31.7.24 31.7.23
(Unaudited)
Notes £    £   
CURRENT ASSETS
Debtors 5 - 327,863
Cash at bank 5,883 1,924
5,883 329,787
CREDITORS
Amounts falling due within one year 6 (4,603 ) (518,599 )
NET CURRENT ASSETS/(LIABILITIES) 1,280 (188,812 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,280

(188,812

)

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Retained earnings (13,720 ) (203,812 )
1,280 (188,812 )

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 Board of Directors and authorised for issue on 16 April 2025 and were signed on its behalf by:





P Mason - Director


GRINDCO 427 LIMITED (REGISTERED NUMBER: 04834100)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

GRINDCO 427 LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04834100

Registered office: Unit 62
Longton Exchange
Longton
Stoke on Trent
Staffordshire
ST3 2JA

The company ceased to trade on 31 July 2022 but continued to incur some central costs on behalf of its fellow subsidiaries.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company ceased to trade on 31 July 2022. The company will be dissolved in the foreseeable future and so the accounts have not been prepared on a going concern basis. All assets and liabilities are shown at their recoverable amount.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimate useful lives and residual values deemed appropriate by the directors. estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during the current and prior accounting periods.

GRINDCO 427 LIMITED (REGISTERED NUMBER: 04834100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% straight line

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


GRINDCO 427 LIMITED (REGISTERED NUMBER: 04834100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

EMPLOYEE BENEFITS
The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expense in the profit and loss account in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 August 2023 23,087
Disposals (23,087 )
At 31 July 2024 -
DEPRECIATION
At 1 August 2023 23,087
Eliminated on disposal (23,087 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

GRINDCO 427 LIMITED (REGISTERED NUMBER: 04834100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
(Unaudited)
£    £   
Amounts owed by group undertakings - 327,863

Amounts owed by group undertakings are interest free, unsecured and are repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
(Unaudited)
£    £   
Amounts owed to group undertakings - 514,798
Social security and other taxes 477 578
VAT 3,837 2,893
Other creditors 186 227
Amounts due to connected
companies 103 103
4,603 518,599

Amounts due to group undertakings and connected companies are interest free, unsecured and are repayable on demand.

7. SECURED DEBTS

A legal charge is held by National Westminsted Bank PLC, incorporating a fixed charge over 138 Greasley Road, Abbey Hulton, Stoke-on-Trent, Staffordshire dated 4 November 2003.

A legal charge is held by National Westminsted Bank PLC, incorporating a fixed charge over 28-30 Tunstall Road, Biddulph, Stoke-on-Trent, Staffordshire dated 4 November 2003.

A legal charge is held by National Westminsted Bank PLC, incorporating a fixed charge over 25 Abbotts Drive, Sneyd Green, Stoke-on-Trent, Staffordshire dated 4 November 2003.

A legal charge is held by National Westminsted Bank PLC, incorporating a fixed charge over Ground Floor, 25 Tower Square, Tunstall, Stoke-on-Trent, Staffordshire dated 4 November 2003.

A legal charge is held by National Westminsted Bank PLC, incorporating a fixed charge over , 23 Dividy Road, Bucknall, Stoke-on-Trent, Staffordshire dated 4 November 2003.

A debenture is held by National Westminster Bank PLC, incorporating fixed and floating charges over the undertaking and all property and assets present and future dated 4 November 2003.

A legal charge is held by National Westminsted Bank PLC, incorporating a fixed charge over 57 Derby Street, Leek, Staffordshire dated 18 January 2005.

A legal charge is held by National Westminsted Bank PLC over 32 Derby Street, Leek, Staffordshire t/no SF496967 dated 21 August 2008.

GRINDCO 427 LIMITED (REGISTERED NUMBER: 04834100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michelle Coates (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited

EMPHASIS OF MATTER

We draw your attention to Note 2 of the financial statements which explains the directors' decision to cease trading and dissolve the company in the foreseeable future. Accordingly, the financial statements have not been prepared on the going concern basis. Our opinion is not modified in this respect.

9. OTHER FINANCIAL COMMITMENTS

There is an unlimited intercompany guarantee dated 3 June 2010 with PM & HP Holdings Limited.

10. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.

11. CONTROLLING PARTY

The company is a wholly owned subsidiary of PM & HP Holdings Limited, a company incorporated in England and Wales.