Grimwood Group Ltd 13461058 false 2024-02-29 2025-03-31 2025-03-31 The principal activity of the company is Property letting Digita Accounts Production Advanced 6.30.9574.0 true true 13461058 2024-02-29 2025-03-31 13461058 2025-03-31 13461058 core:RetainedEarningsAccumulatedLosses 2025-03-31 13461058 core:ShareCapital 2025-03-31 13461058 core:CurrentFinancialInstruments 2025-03-31 13461058 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 13461058 core:Non-currentFinancialInstruments 2025-03-31 13461058 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 13461058 core:MoreThanFiveYears 1 2025-03-31 13461058 bus:SmallEntities 2024-02-29 2025-03-31 13461058 bus:AuditExemptWithAccountantsReport 2024-02-29 2025-03-31 13461058 bus:FilletedAccounts 2024-02-29 2025-03-31 13461058 bus:SmallCompaniesRegimeForAccounts 2024-02-29 2025-03-31 13461058 bus:RegisteredOffice 2024-02-29 2025-03-31 13461058 bus:Director1 2024-02-29 2025-03-31 13461058 bus:Director2 2024-02-29 2025-03-31 13461058 bus:PrivateLimitedCompanyLtd 2024-02-29 2025-03-31 13461058 1 2024-02-29 2025-03-31 13461058 countries:EnglandWales 2024-02-29 2025-03-31 13461058 2023-07-01 2024-02-28 13461058 2024-02-28 13461058 core:RetainedEarningsAccumulatedLosses 2024-02-28 13461058 core:ShareCapital 2024-02-28 13461058 core:CurrentFinancialInstruments 2024-02-28 13461058 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 13461058 core:Non-currentFinancialInstruments 2024-02-28 13461058 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-28 13461058 core:MoreThanFiveYears 1 2024-02-28 iso4217:GBP xbrli:pure

Registration number: 13461058

Grimwood Group Ltd

Unaudited Filleted Financial Statements

for the Period from 29 February 2024 to 31 March 2025

 

Grimwood Group Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Grimwood Group Ltd

Company Information

Directors

P C Grimwood

C A Grimwood

Registered office

50 Riplingham Road
Kirkella
Hull
East Yorkshire
HU10 7TR

 

Grimwood Group Ltd

(Registration number: 13461058)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Investment property

4

261,826

-

Current assets

 

Debtors

5

530

1

Cash at bank and in hand

 

609

-

 

1,139

1

Creditors: Amounts falling due within one year

6

(77,944)

-

Net current (liabilities)/assets

 

(76,805)

1

Total assets less current liabilities

 

185,021

1

Creditors: Amounts falling due after more than one year

6

(189,850)

-

Net (liabilities)/assets

 

(4,829)

1

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(4,830)

-

Shareholders' (deficit)/funds

 

(4,829)

1

For the financial period 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 accounts for the period in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 July 2025 and signed on its behalf by:
 

.........................................
P C Grimwood
Director

.........................................
C A Grimwood
Director

 

Grimwood Group Ltd

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 31 March 2025

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 13461058.

The address of its registered office is:
50 Riplingham Road
Kirkella
Hull
East Yorkshire
HU10 7TR

These financial statements were authorised for issue by the Board on 16 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Disclosure of long or short period

Amounts presented for the 2025 reporting period are for a 13-month period. Comparative figures are for a 8-month period. Consequently, comparative amounts for the profit & loss accounts, statement of comprehensive income, statement of changes in equity, related notes are not entirely comparable.

Going concern

The directors are aware that there is doubt over the going concern of the entity due to the net current liabilities of £76,805 and the insolvent balance sheet total of £4,829. This is partly due to a directors loan balance of £73,394. The directors have confirmed that they will not seek repayment of the amount until the entity is in a position where it is able to repay it.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of properties in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Grimwood Group Ltd

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 31 March 2025

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

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.

Share capital

Ordinary 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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 2 (2024 - 2).

4

Investment properties

2025
£

Additions

261,826

At 31 March

261,826

There has been no valuation of investment property by an independent valuer.

 

Grimwood Group Ltd

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 31 March 2025

5

Debtors

2025
£

2024
£

Other debtors

-

1

Prepayments

530

-

530

1

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

73,394

-

Accruals and deferred income

 

2,550

-

Other creditors

 

2,000

-

 

77,944

-

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

7

189,850

-

2025
£

2024
£

Due after more than five years

After more than five years by instalments

189,850

-

-

-

 

Grimwood Group Ltd

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 31 March 2025

7

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

189,850

-

Current loans and borrowings

2025
£

2024
£

Other borrowings

73,394

-

Other borrowings relate to an unsecured directors loan account.

The bank borrowings are secured by fixed and floating charges over the investment properties.

8

Related party transactions

Other transactions with Directors

At the year end, the company owed the directors £73,394 (2024: The directors owed the company £1. This amount is unsecured, interest free and repayable on demand.