Company Registration No. 07560317 (England and Wales)
TROGAL GRIFFIN ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
TROGAL GRIFFIN ASSOCIATES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
TROGAL GRIFFIN ASSOCIATES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5,000
10,000
Tangible assets
4
3,155
4,037
8,155
14,037
Current assets
Debtors
5
19,661
35,304
Cash at bank and in hand
124,547
141,183
144,208
176,487
Creditors: amounts falling due within one year
6
(38,871)
(35,277)
Net current assets
105,337
141,210
Total assets less current liabilities
113,492
155,247
Provisions for liabilities
(789)
(767)
Net assets
112,703
154,480
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
111,703
153,480
Total equity
112,703
154,480

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

TROGAL GRIFFIN ASSOCIATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 May 2023 and are signed on its behalf by:
D N Scharvona
Director
Company Registration No. 07560317
TROGAL GRIFFIN ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Trogal Griffin Associates Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Sobell Rhodes LLP, The Kinetic Centre, Theobald Street, Elstree, Borehamwood, Hertfordshire, United Kingdom, WD6 4PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have a reasonable expectation the company will continue to have adequate resources to fund its working capital for the foreseeable future. The directors have carried out a detailed assessment of the viability of the company following to uncertainty over current economic condition due to higher inflation and higher interest rate rises.

 

As a result of their review, the directors have taken appropriate measures to enable them to have a reasonable expectation that the company will have sufficient working capital for a period of at least 12 months from the date these financial statements have been approved.

 

On the basis of the above, the directors are of the opinion that there is no material uncertainty relating to going concern and therefore it is appropriate to prepare these financial  statements on a going concern basis.

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Intangible fixed assets - goodwill

Goodwill arising on acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liability of the entity recognised at the date of acquisition. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.

Goodwill
10 years straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website costs
25% straight line
Fixtures and fittings
20% straight line
TROGAL GRIFFIN ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable,

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits

Contributions to defined contribution plans are recognised as employee benefit expenses when they are paid.

 

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.9

Dividends

Dividend distributions to the company's shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
TROGAL GRIFFIN ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
50,000
Amortisation and impairment
At 1 April 2022
40,000
Amortisation charged for the year
5,000
At 31 March 2023
45,000
Carrying amount
At 31 March 2023
5,000
At 31 March 2022
10,000
4
Tangible fixed assets
Website costs
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2022
2,100
14,425
16,525
Additions
-
0
580
580
At 31 March 2023
2,100
15,005
17,105
Depreciation and impairment
At 1 April 2022
1,425
11,063
12,488
Depreciation charged in the year
300
1,162
1,462
At 31 March 2023
1,725
12,225
13,950
Carrying amount
At 31 March 2023
375
2,780
3,155
At 31 March 2022
675
3,362
4,037
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,121
13,692
Other debtors
18,540
21,612
19,661
35,304
TROGAL GRIFFIN ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
160
-
0
Corporation tax
21,252
15,752
Other taxation and social security
12,033
14,608
Other creditors
5,426
4,917
38,871
35,277
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
"A" Ordinary shares of £1 each
100
100
100
100
"B" Ordinary shares of £1 each
900
900
900
900
1,000
1,000
1,000
1,000
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