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Company registration number: 11849023
Grimwood and Sons (Ipswich) Ltd
Unaudited filleted financial statements
31 March 2025
Grimwood and Sons (Ipswich) Ltd
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Grimwood and Sons (Ipswich) Ltd
Directors and other information
Directors Mr Stephen Grimwood
Mr Gary Grimwood
Mr Tony Grimwood
Company number 11849023
Registered office 52 Belstead Avenue
Ipswich
Suffolk
IP2 8NR
Business address 52 Belstead Avenue
Ipswich
Suffolk
IP2 8NR
Accountant Simon Emmerson
Deeks and King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
Bankers Barclays Bank
1 Princes Street
Ipswich
Grimwood and Sons (Ipswich) Ltd
Accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Grimwood and Sons (Ipswich) Ltd
Year ended 31 March 2025
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2025 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Simon Emmerson
Deeks and King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
20 May 2025
Grimwood and Sons (Ipswich) Ltd
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 3,817 1,255
_______ _______
3,817 1,255
Current assets
Debtors 6 41,615 27,798
Cash at bank and in hand 9,089 45,852
_______ _______
50,704 73,650
Creditors: amounts falling due
within one year 7 ( 45,100) ( 48,498)
_______ _______
Net current assets 5,604 25,152
_______ _______
Total assets less current liabilities 9,421 26,407
_______ _______
Net assets 9,421 26,407
_______ _______
Capital and reserves
Called up share capital 102 102
Profit and loss account 9,319 26,305
_______ _______
Shareholders funds 9,421 26,407
_______ _______
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 May 2025 , and are signed on behalf of the board by:
Mr Stephen Grimwood
Director
Company registration number: 11849023
Grimwood and Sons (Ipswich) Ltd
Statement of changes in equity
Year ended 31 March 2025
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2023 102 54,990 55,092
Profit for the year 87,515 87,515
_______ _______ _______
Total comprehensive income for the year - 87,515 87,515
Dividends paid and payable ( 116,200) ( 116,200)
_______ _______ _______
Total investments by and distributions to owners - ( 116,200) ( 116,200)
_______ _______ _______
At 31 March 2024 and 1 April 2024 102 26,305 26,407
Profit for the year 90,614 90,614
_______ _______ _______
Total comprehensive income for the year - 90,614 90,614
Dividends paid and payable ( 107,600) ( 107,600)
_______ _______ _______
Total investments by and distributions to owners - ( 107,600) ( 107,600)
_______ _______ _______
At 31 March 2025 102 9,319 9,421
_______ _______ _______
Grimwood and Sons (Ipswich) Ltd
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 52 Belstead Avenue, Ipswich, Suffolk, IP2 8NR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
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 in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2024: Nil).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2024 308 2,516 2,824
Additions - 3,400 3,400
_______ _______ _______
At 31 March 2025 308 5,916 6,224
_______ _______ _______
Depreciation
At 1 April 2024 192 1,377 1,569
Charge for the year 21 817 838
_______ _______ _______
At 31 March 2025 213 2,194 2,407
_______ _______ _______
Carrying amount
At 31 March 2025 95 3,722 3,817
_______ _______ _______
At 31 March 2024 116 1,139 1,255
_______ _______ _______
6. Debtors
2025 2024
£ £
Trade debtors 41,613 27,796
Other debtors 2 2
_______ _______
41,615 27,798
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Corporation tax 26,646 26,477
Social security and other taxes 14,939 19,296
Other creditors 3,515 2,725
_______ _______
45,100 48,498
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Stephen Grimwood ( 12) - ( 40) ( 52)
Mr Gary Grimwood 1 - - 1
Mr Tony Grimwood 1 - - 1
_______ _______ _______ _______
( 10) - ( 40) ( 50)
_______ _______ _______ _______
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Stephen Grimwood ( 29) 17 - ( 12)
Mr Gary Grimwood 1 - - 1
Mr Tony Grimwood 1 - - 1
_______ _______ _______ _______
( 27) 17 - ( 10)
_______ _______ _______ _______