Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity16true2022-04-01false16trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 4048162 2022-04-01 2023-03-31 4048162 2021-04-01 2022-03-31 4048162 2023-03-31 4048162 2022-03-31 4048162 c:CompanySecretary1 2022-04-01 2023-03-31 4048162 c:Director1 2022-04-01 2023-03-31 4048162 c:RegisteredOffice 2022-04-01 2023-03-31 4048162 c:Agent1 2022-04-01 2023-03-31 4048162 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 4048162 d:Buildings d:ShortLeaseholdAssets 2023-03-31 4048162 d:Buildings d:ShortLeaseholdAssets 2022-03-31 4048162 d:PlantMachinery 2022-04-01 2023-03-31 4048162 d:PlantMachinery 2023-03-31 4048162 d:PlantMachinery 2022-03-31 4048162 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 4048162 d:MotorVehicles 2022-04-01 2023-03-31 4048162 d:MotorVehicles 2023-03-31 4048162 d:MotorVehicles 2022-03-31 4048162 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 4048162 d:FurnitureFittings 2022-04-01 2023-03-31 4048162 d:FurnitureFittings 2023-03-31 4048162 d:FurnitureFittings 2022-03-31 4048162 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 4048162 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 4048162 d:CurrentFinancialInstruments 2023-03-31 4048162 d:CurrentFinancialInstruments 2022-03-31 4048162 d:Non-currentFinancialInstruments 2023-03-31 4048162 d:Non-currentFinancialInstruments 2022-03-31 4048162 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 4048162 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 4048162 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 4048162 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 4048162 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 4048162 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 4048162 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 4048162 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 4048162 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 4048162 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 4048162 d:ShareCapital 2023-03-31 4048162 d:ShareCapital 2022-03-31 4048162 d:RetainedEarningsAccumulatedLosses 2023-03-31 4048162 d:RetainedEarningsAccumulatedLosses 2022-03-31 4048162 c:FRS102 2022-04-01 2023-03-31 4048162 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 4048162 c:FullAccounts 2022-04-01 2023-03-31 4048162 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 4048162







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023


GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED






































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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
 


 
COMPANY INFORMATION


Director
Mr M Valentino 




Company secretary
Mrs M Valentino



Registered number
4048162



Registered office
23 - 29 The Broadway
Knaphill

Woking

Surrey

GU21 2DR




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP




Bankers
HSBC Bank Plc
6 Commercial Way

Woking

Surrey

GU21 6EZ





 


GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
REGISTERED NUMBER:4048162



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
129,378
131,191

  
129,378
131,191

Current assets
  

Stocks
  
718,142
584,325

Debtors: amounts falling due within one year
 5 
12,655
10,976

Cash at bank and in hand
  
121,794
255,809

  
852,591
851,110

Creditors: amounts falling due within one year
 6 
(420,248)
(439,593)

Net current assets
  
 
 
432,343
 
 
411,517

Total assets less current liabilities
  
561,721
542,708

Creditors: amounts falling due after more than one year
 7 
(33,324)
(38,821)

  

Net assets
  
528,397
503,887


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
528,395
503,885

  
528,397
503,887

Page 1

 


GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
REGISTERED NUMBER:4048162


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers 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 director acknowledges his 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 by: 




Mr M Valentino
Director
Date: 31 October 2023

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 


GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Griffiths and the Schoolgirl by Valentino Limited is a private company, limited by shares and incorporated in England & Wales. The address of the principal place of business and the registered office are given in the company information page of these financial statements. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Turnover

The turnover shown in the Statement of Income and Retained Earnings represents amounts receivable for goods and services provided during the year in the normal course of business from a clothing retail outlet and coffee shop, net of trade discounts, VAT and other sales and related taxes.

 
2.3

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.

 
2.4

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.

 
2.5

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 Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 3

 


GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

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 reporting date in the countries where the company operates and generates income.

 
2.7

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.

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:

Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
10% straight line

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.

The leasehold improvement costs relate to the building of a coffee shop. The director does not believe these costs should be depreciated as the improvements have increased the overall value of the property and he does not believe the residual value will fall below cost. The fit out costs of the property have been included in plant and machinery.

  
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

Page 4

 


GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 16).


4.


Tangible fixed assets





Leasehold Improvements
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
85,780
90,872
17,650
214,329
408,631


Additions
-
13,371
-
1,193
14,564



At 31 March 2023

85,780
104,243
17,650
215,522
423,195



Depreciation


At 1 April 2022
-
54,963
14,625
207,852
277,440


Charge for the year on owned assets
-
13,997
756
1,624
16,377



At 31 March 2023

-
68,960
15,381
209,476
293,817



Net book value



At 31 March 2023
85,780
35,283
2,269
6,046
129,378



At 31 March 2022
85,780
35,909
3,025
6,477
131,191

Page 5

 


GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
-
500

Other debtors
9,792
7,889

Prepayments and accrued income
2,863
2,587

12,655
10,976



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,462
6,543

Trade creditors
180,595
211,740

Corporation tax
5,450
10,816

Other taxation and social security
5,174
7,962

Other creditors
219,397
199,562

Accruals and deferred income
3,170
2,970

420,248
439,593



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
33,324
38,821

33,324
38,821


The bank loans included within creditors falling due after more than one year are secured by way of a fixed and floating charge over all of the company's assets and by way of government guarantee under the Bounce Back Loan Scheme.

Page 6

 


GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,462
6,543


6,462
6,543

Amounts falling due 1-2 years

Bank loans
5,556
5,556


5,556
5,556

Amounts falling due 2-5 years

Bank loans
16,667
16,667


16,667
16,667

Amounts falling due after more than 5 years

Bank loans
11,101
16,598

11,101
16,598

39,786
45,364


 
Page 7