Silverfin false 28/02/2023 01/03/2022 28/02/2023 M A Griffiths 20/08/2003 P R Griffiths 20/08/2003 P R Griffiths 24 November 2023 The principal activity of the Company during the financial year is the holding of investment property. 04872891 2023-02-28 04872891 bus:Director1 2023-02-28 04872891 bus:Director2 2023-02-28 04872891 2022-02-28 04872891 core:CurrentFinancialInstruments 2023-02-28 04872891 core:CurrentFinancialInstruments 2022-02-28 04872891 core:ShareCapital 2023-02-28 04872891 core:ShareCapital 2022-02-28 04872891 core:FurtherSpecificReserve1ComponentTotalEquity 2023-02-28 04872891 core:FurtherSpecificReserve1ComponentTotalEquity 2022-02-28 04872891 core:RetainedEarningsAccumulatedLosses 2023-02-28 04872891 core:RetainedEarningsAccumulatedLosses 2022-02-28 04872891 2021-02-28 04872891 2022-03-01 2023-02-28 04872891 bus:FullAccounts 2022-03-01 2023-02-28 04872891 bus:SmallEntities 2022-03-01 2023-02-28 04872891 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04872891 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04872891 bus:Director1 2022-03-01 2023-02-28 04872891 bus:Director2 2022-03-01 2023-02-28 04872891 bus:CompanySecretary1 2022-03-01 2023-02-28 04872891 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure

Company No: 04872891 (England and Wales)

F GRIFFITHS & SONS LTD.

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

F GRIFFITHS & SONS LTD.

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

F GRIFFITHS & SONS LTD.

COMPANY INFORMATION

For the financial year ended 28 February 2023
F GRIFFITHS & SONS LTD.

COMPANY INFORMATION (continued)

For the financial year ended 28 February 2023
DIRECTORS M A Griffiths
P R Griffiths
SECRETARY P R Griffiths
REGISTERED OFFICE 3 Filers Way
Weston Gateway Business Park
Weston-Super-Mare
BS24 7JP
United Kingdom
COMPANY NUMBER 04872891 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
3 Filers Way
Weston Gateway Business Park
Weston-super-Mare
Somerset
BS24 7JP
F GRIFFITHS & SONS LTD.

BALANCE SHEET

As at 28 February 2023
F GRIFFITHS & SONS LTD.

BALANCE SHEET (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 500,000 500,000
500,000 500,000
Current assets
Debtors 4 56,767 54,083
Cash at bank and in hand 2,900 1,358
59,667 55,441
Creditors: amounts falling due within one year 5 ( 7,052) ( 8,019)
Net current assets 52,615 47,422
Total assets less current liabilities 552,615 547,422
Provision for liabilities 6 ( 30,960) ( 30,960)
Net assets 521,655 516,462
Capital and reserves
Called-up share capital 250,000 250,000
Fair value reserve 216,450 216,450
Profit and loss account 55,205 50,012
Total shareholders' funds 521,655 516,462

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of F Griffiths & Sons Ltd. (registered number: 04872891) were approved and authorised for issue by the Board of Directors on 24 November 2023. They were signed on its behalf by:

M A Griffiths
Director
P R Griffiths
Director
F GRIFFITHS & SONS LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
F GRIFFITHS & SONS LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

F Griffiths & Sons Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable from the rental of properties in the period.

The company recognises revenue when:
The amount of rent can be reliably measured;
it is confirmed that the rent is due to the entity.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 March 2022 500,000
As at 28 February 2023 500,000

4. Debtors

2023 2022
£ £
Other debtors 56,767 54,083

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 4,033 4,686
Other creditors 3,019 3,333
7,052 8,019

6. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 30,960) ( 30,960)
At the end of financial year ( 30,960) ( 30,960)

7. Related party transactions

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 March 2022, the balance owed by one of the directors was £5,767. During the year, £9,163 was advanced to the director, and £14,930 was repaid by the director. At 28 February 2023, the balance owed by the director was £NIL.

At 1 March 2021, the balance owed to the director was £2,549. During the year, £9,996 was advanced to the director, and £1,680 was repaid by the director. At 28 February 2022, the balance owed by the director was £5,767.

At 1 March 2022, the balance owed to the other director was £1,862. During the year, £9,877 was advanced to the director, and £8,015 was repaid by the director. At 28 February 2023, the balance owed by the director was £NIL.

At 1 March 2021, the balance owed to the other director was £10,178. During the year, £9,996 was advanced to the director, and £1,680 was repaid by the director. At 28 February 2022, the balance owed to the director was £1,862.