Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31879true2022-04-01falseNo description of principal activity2219trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10958150 2022-04-01 2023-03-31 10958150 2021-04-01 2022-03-31 10958150 2023-03-31 10958150 2022-03-31 10958150 c:Director1 2022-04-01 2023-03-31 10958150 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 10958150 d:Buildings d:ShortLeaseholdAssets 2023-03-31 10958150 d:Buildings d:ShortLeaseholdAssets 2022-03-31 10958150 d:MotorVehicles 2022-04-01 2023-03-31 10958150 d:MotorVehicles 2023-03-31 10958150 d:MotorVehicles 2022-03-31 10958150 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10958150 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10958150 d:OfficeEquipment 2022-04-01 2023-03-31 10958150 d:OfficeEquipment 2023-03-31 10958150 d:OfficeEquipment 2022-03-31 10958150 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10958150 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10958150 d:ComputerEquipment 2022-04-01 2023-03-31 10958150 d:ComputerEquipment 2023-03-31 10958150 d:ComputerEquipment 2022-03-31 10958150 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10958150 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10958150 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10958150 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10958150 d:Goodwill 2022-04-01 2023-03-31 10958150 d:Goodwill 2023-03-31 10958150 d:Goodwill 2022-03-31 10958150 d:CurrentFinancialInstruments 2023-03-31 10958150 d:CurrentFinancialInstruments 2022-03-31 10958150 d:Non-currentFinancialInstruments 2023-03-31 10958150 d:Non-currentFinancialInstruments 2022-03-31 10958150 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10958150 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10958150 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10958150 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 10958150 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 10958150 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 10958150 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10958150 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 10958150 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 10958150 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 10958150 d:ShareCapital 2023-03-31 10958150 d:ShareCapital 2022-03-31 10958150 d:RetainedEarningsAccumulatedLosses 2023-03-31 10958150 d:RetainedEarningsAccumulatedLosses 2022-03-31 10958150 c:FRS102 2022-04-01 2023-03-31 10958150 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10958150 c:FullAccounts 2022-04-01 2023-03-31 10958150 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10958150 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 10958150 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 10958150 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 10958150 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 10958150 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 10958150 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-03-31 10958150 d:LeasedAssetsHeldAsLessee 2023-03-31 10958150 d:LeasedAssetsHeldAsLessee 2022-03-31 10958150 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 10958150









GRIFFIN AUDIT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023














 
GRIFFIN AUDIT LIMITED
REGISTERED NUMBER: 10958150

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
68,506
81,102

Tangible assets
 5 
179,694
145,787

  
248,200
226,889

Current assets
  

Debtors: amounts falling due within one year
 6 
355,280
241,891

Cash at bank and in hand
 7 
78,534
22,591

  
433,814
264,482

Creditors: amounts falling due within one year
 8 
(176,090)
(122,763)

Net current assets
  
 
 
257,724
 
 
141,719

Total assets less current liabilities
  
505,924
368,608

Creditors: amounts falling due after more than one year
 9 
(277,516)
(148,104)

  

Net assets
  
228,408
220,504


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
228,308
220,404

  
228,408
220,504


Page 1

 
GRIFFIN AUDIT LIMITED
REGISTERED NUMBER: 10958150
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 October 2023.




Misty-Jane Nickells
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
GRIFFIN AUDIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Griffin Audit Limited is a private company, limited by shares, domiciled in England. The registered office is Silverdown Office Park, Exeter Airport Business Park, Exeter, EX5 2UX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
GRIFFIN AUDIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
GRIFFIN AUDIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Over the length of the lease
Motor vehicles
-
15% Reducing Balance
Office equipment
-
7 Years
Computer equipment
-
4 Years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
GRIFFIN AUDIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 6

 
GRIFFIN AUDIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 19).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
138,556



At 31 March 2023

138,556



Amortisation


At 1 April 2022
57,454


Charge for the year on owned assets
12,596



At 31 March 2023

70,050



Net book value



At 31 March 2023
68,506



At 31 March 2022
81,102



Page 7

 
GRIFFIN AUDIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
5,275
122,240
24,653
32,192
184,360


Additions
-
59,205
1,420
2,080
62,705


Disposals
-
-
-
(1,586)
(1,586)



At 31 March 2023

5,275
181,445
26,073
32,686
245,479



Depreciation


At 1 April 2022
127
2,469
13,435
22,542
38,573


Charge for the year on owned assets
879
-
3,985
3,748
8,612


Charge for the year on financed assets
-
20,186
-
-
20,186


Disposals
-
-
-
(1,586)
(1,586)



At 31 March 2023

1,006
22,655
17,420
24,704
65,785



Net book value



At 31 March 2023
4,269
158,790
8,653
7,982
179,694



At 31 March 2022
5,148
119,771
11,218
9,650
145,787

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
158,050
118,948

158,050
118,948


6.


Debtors

2023
2022
£
£

Page 8

 
GRIFFIN AUDIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.Debtors (continued)


Trade debtors
144,279
117,012

Amounts owed by group undertakings
176,725
96,425

Other debtors
1,000
-

Prepayments and accrued income
33,276
28,454

355,280
241,891



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
78,534
22,591

78,534
22,591



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
42,426
22,560

Trade creditors
7,734
10,838

Corporation tax
21,255
12,896

Other taxation and social security
68,406
50,239

Obligations under finance lease and hire purchase contracts
31,438
20,705

Other creditors
4,831
5,525

176,090
122,763



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
162,972
55,393

Net obligations under finance leases and hire purchase contracts
114,544
92,711

277,516
148,104


Page 9

 
GRIFFIN AUDIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
42,426
22,560


42,426
22,560

Amounts falling due 1-2 years

Bank loans
28,816
21,135


28,816
21,135

Amounts falling due 2-5 years

Bank loans
122,119
16,667


122,119
16,667

Amounts falling due after more than 5 years

Bank loans
12,037
17,591

12,037
17,591

205,398
77,953



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
31,438
20,705

Between 1-5 years
114,544
92,711

145,982
113,416

Page 10

 
GRIFFIN AUDIT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £8,885 (2022 - £7,063). Contributions totalling £2,089 (2022 - £1,600) were payable to the fund at the balance sheet date and are included in creditors.

Page 11