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Registered number: 11029848
Grimston Management Limited
Unaudited Financial Statements
For The Year Ended 31 October 2025
Grimston Management Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Grimston Management Limited
Balance Sheet
As At 31 October 2025
Balance Sheet
Registered number: 11029848

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Investments | 4 |  | 18,805,872 |  | 17,678,585
|  |  | 18,805,872 |  | 17,678,585
CURRENT ASSETS
Cash at bank and in hand |  | 381,462 |  | 117,179 |
|  | 381,462 |  | 117,179 |
Creditors: Amounts Falling Due Within One Year | 5 | (238,910 ) |  | (1,090,087 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 142,552 |  | (972,908 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 18,948,424 |  | 16,705,677
Creditors: Amounts Falling Due After More Than One Year | 6 |  | (9,674,327 ) |  | (10,460,282 )
PROVISIONS FOR LIABILITIES
Deferred Taxation | 7 |  | (2,084,903 ) |  | (1,431,228 )
NET ASSETS |  |  | 7,189,194 |  | 4,814,167
CAPITAL AND RESERVES
Called up share capital | 9 |  | 8 |  | 8
Profit and Loss Account |  |  | 7,189,186 |  | 4,814,159
SHAREHOLDERS' FUNDS |  |  | 7,189,194 |  | 4,814,167

Page 1
Page 2
Grimston Management Limited
Balance Sheet (continued)
As At 31 October 2025
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

S E Marshall-Forsyth Director
28/07/2026

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Grimston Management Limited
Notes to the Financial Statements
For The Year Ended 31 October 2025
Notes to the Financial Statements
1. General Information
Grimston Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11029848 . The registered office is 22 Shipton Road, York, YO30 5RF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company is supported through loans from the directors of £10,460,282. The directors have confirmed that the loan facilities will continue to be made available for at least 12 months from the date of signing these financial statements and that the directors will continue to financially support the Company for this period, if required. Based on this support, along with the strong net assets position of the Company, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
2.3. Financial Instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
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Grimston Management Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Dividend income
Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).
2.7. Finance costs
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so 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.
2.8. Interest income
Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
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Grimston Management Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
4. Investments

| Listed
--- | ---
| £
Cost or Valuation
As at 1 November 2024 | 17,678,585
Additions | 3,884,699
Disposals | (2,757,412 )
As at 31 October 2025 | 18,805,872
Provision
As at 1 November 2024 | -
As at 31 October 2025 | -
Net Book Value
As at 31 October 2025 | 18,805,872
As at 1 November 2024 | 17,678,585

5. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans and overdrafts | - |  | 720,445
Corporation tax | 233,228 |  | 354,489
Accruals and deferred income | 5,682 |  | 15,153
| 238,910 |  | 1,090,087

6. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Directors' loan account | 9,674,327 |  | 10,460,282

7. Deferred Taxation
The provision for deferred tax is made up as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other timing differences | 2,084,903 |  | 1,431,228

8. Provisions for Liabilities

| Deferred Tax | Total
--- | --- | ---
| £ | £
As at 1 November 2024 | 1,431,228 | 1,431,228
Additions | 653,675 | 653,675
Balance at 31 October 2025 | 2,084,903 | 2,084,903

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Grimston Management Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
9. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 8 |  | 8

10. Contingent Liabilities
Any amounts owed to the Company's bank are secured by way of a fixed charge over cash and securities held by the bank.
11. Related Party Transactions
No remuneration was paid to the directors during the year (2024: £Nil). The directors are the only key management personnel of this Company.
Included within other creditors falling due after more than one year are loans from the directors of £9,674,327 (2024: £10,460,282). The loans are interest free, and for an indefinite term.
12. Ultimate Controlling Party
There is no ultimate controlling party.
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