John Griggs Limited - Accounts to registrar (filleted) - small 18.2
John Griggs Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| JOHN GRIGGS LIMITED |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2022 |
| JOHN GRIGGS LIMITED (REGISTERED NUMBER: 03304405) |
| Contents of the Financial Statements |
| for the year ended 31 March 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| JOHN GRIGGS LIMITED |
| Company Information |
| for the year ended 31 March 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| The Riding School House |
| Bulls Lane |
| Wishaw |
| Sutton Coldfield |
| West Midlands |
| B76 9QW |
| JOHN GRIGGS LIMITED (REGISTERED NUMBER: 03304405) |
| Balance Sheet |
| 31 March 2022 |
| 31/3/22 | 31/3/21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserve | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| JOHN GRIGGS LIMITED (REGISTERED NUMBER: 03304405) |
| Balance Sheet - continued |
| 31 March 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| JOHN GRIGGS LIMITED (REGISTERED NUMBER: 03304405) |
| Notes to the Financial Statements |
| for the year ended 31 March 2022 |
| 1. | STATUTORY INFORMATION |
| John Griggs Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| As at 31st March 2022, the company's balance sheet reflected net current liabilities. However, included within creditors falling due within one year is an amount due to a company director in excess of the net current liabilities. The director has confirmed that repayment of this amount will not be requested until such time as the company has sufficient funds available. Accordingly, the directors consider the going concern basis of preparation to be appropriate. |
| Significant judgements and estimates |
| Investment Properties |
| The value of the properties is assessed by an independent property valuation specialist at each reporting date using publicly available market evidence comprising primarily of values of comparable properties in the area and national market statistics. However, it is inherently difficult to assess the true market value of the properties without actively marketing the properties for sale. |
| Investment property |
| The company's properties are held for long-term investment and depreciation is not provided in respect of such properties. This policy represents a departure from the statutory accounting principles, which require depreciation to be provided on all fixed assets. The Directors consider that this policy is necessary in order that the financial statements may give a true and fair view. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2021 - NIL). |
| JOHN GRIGGS LIMITED (REGISTERED NUMBER: 03304405) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2022 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2021 |
| Additions |
| Revaluations | 178,927 |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| Fair value at 31 March 2022 is represented by: |
| £ |
| Valuation in 2017 | 241,111 |
| Valuation in 2018 | 220,297 |
| Valuation in 2019 | 5,000 |
| Valuation in 2020 | (6,272 | ) |
| Valuation in 2021 | 299,026 |
| Valuation in 2022 | 178,927 |
| Cost | 4,866,721 |
| 5,804,810 |
| £5,804,810 of investment property fair value at 31st March 2022 (2021 : £4,820,000) is based on valuations made by the directors with reference to external, independent valuers, having appropriate recognised professional qualifications and recent experience in the locations and class of properties being valued. |
| In accordance with the requirements of FRS102 relating to investment properties any gain or loss arising from a change in fair value is recognised in the profit or loss in that accounting period. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/22 | 31/3/21 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/22 | 31/3/21 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Included in other creditors is a directors loan account that has no fixed date for repayment, no interest charge or formal loan documentation. Accordingly the loan is treated as repayable on demand. |
| JOHN GRIGGS LIMITED (REGISTERED NUMBER: 03304405) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2022 |
| 7. | RESERVES |
| Other |
| reserve |
| £ |
| At 1 April 2021 |
| Transfer movement in year | 134,172 |
| At 31 March 2022 |