William Griffith (Whitburn) Limited SC029079 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is land and property developers. Digita Accounts Production Advanced 6.30.9574.0 true SC029079 2023-04-01 2024-03-31 SC029079 2024-03-31 SC029079 core:CapitalRedemptionReserve 2024-03-31 SC029079 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC029079 core:RevaluationReserve 2024-03-31 SC029079 core:ShareCapital 2024-03-31 SC029079 core:CurrentFinancialInstruments 2024-03-31 SC029079 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC029079 core:MotorVehicles 2024-03-31 SC029079 core:OfficeEquipment 2024-03-31 SC029079 core:PlantMachinery 2024-03-31 SC029079 bus:SmallEntities 2023-04-01 2024-03-31 SC029079 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC029079 bus:FilletedAccounts 2023-04-01 2024-03-31 SC029079 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC029079 bus:RegisteredOffice 2023-04-01 2024-03-31 SC029079 bus:CompanySecretaryDirector2 2023-04-01 2024-03-31 SC029079 bus:Director4 2023-04-01 2024-03-31 SC029079 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC029079 bus:Agent1 2023-04-01 2024-03-31 SC029079 core:MotorVehicles 2023-04-01 2024-03-31 SC029079 core:OfficeEquipment 2023-04-01 2024-03-31 SC029079 core:PlantMachinery 2023-04-01 2024-03-31 SC029079 core:AllJointVentures 2023-04-01 2024-03-31 SC029079 countries:Scotland 2023-04-01 2024-03-31 SC029079 2023-03-31 SC029079 core:CostValuation 2023-03-31 SC029079 core:MotorVehicles 2023-03-31 SC029079 core:OfficeEquipment 2023-03-31 SC029079 core:PlantMachinery 2023-03-31 SC029079 2022-04-01 2023-03-31 SC029079 2023-03-31 SC029079 core:CapitalRedemptionReserve 2023-03-31 SC029079 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC029079 core:RevaluationReserve 2023-03-31 SC029079 core:ShareCapital 2023-03-31 SC029079 core:CurrentFinancialInstruments 2023-03-31 SC029079 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 SC029079 core:MotorVehicles 2023-03-31 SC029079 core:OfficeEquipment 2023-03-31 SC029079 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: SC029079

William Griffith (Whitburn) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

William Griffith (Whitburn) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

Accountants' Report

9

 

William Griffith (Whitburn) Limited

Company Information

Directors

Mrs Margaret Griffith

Mr Andrew Griffith

Company secretary

Mrs Margaret Griffith

Registered office

Byre Cottage Gilston Farm
Polmont
Falkirk
FK2 0YQ

Accountants

EQ Accountants (Trading name)
Yates Business Solutions Ltd
Unit 4B, Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

William Griffith (Whitburn) Limited

(Registration number: SC029079)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,012

1,349

Investment property

5

784,151

782,831

Investments

6

2

2

 

785,165

784,182

Current assets

 

Debtors

7

50,252

40,966

Cash at bank and in hand

 

5,244

17,521

 

55,496

58,487

Creditors: Amounts falling due within one year

8

(55,490)

(51,807)

Net current assets

 

6

6,680

Total assets less current liabilities

 

785,171

790,862

Provisions for liabilities

(192)

(256)

Net assets

 

784,979

790,606

Capital and reserves

 

Called up share capital

58,200

58,200

Capital redemption reserve

141,800

141,800

Revaluation reserve

25,813

25,813

Retained earnings

559,166

564,793

Shareholders' funds

 

784,979

790,606

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

William Griffith (Whitburn) Limited

(Registration number: SC029079)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 11 July 2024 and signed on its behalf by:
 

.........................................
Mr Andrew Griffith
Director

 

William Griffith (Whitburn) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

William Griffith (Whitburn) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

William Griffith (Whitburn) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

12,413

4,825

9,982

27,220

At 31 March 2024

12,413

4,825

9,982

27,220

Depreciation

At 1 April 2023

11,275

4,825

9,771

25,871

Charge for the year

284

-

53

337

At 31 March 2024

11,559

4,825

9,824

26,208

Carrying amount

At 31 March 2024

854

-

158

1,012

At 31 March 2023

1,138

-

211

1,349

5

Investment properties

2024
£

At 1 April

782,831

Additions

1,320

At 31 March

784,151

There has been no valuation of investment property by an independent valuer.

 

William Griffith (Whitburn) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Investments

2024
£

2023
£

Investments in associates

2

2

Associates

£

Cost

At 1 April 2023

2

Provision

Carrying amount

At 31 March 2024

2

At 31 March 2023

2

7

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

46,716

37,431

Prepayments

 

1,960

1,959

Other debtors

 

1,576

1,576

   

50,252

40,966

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

47,509

46,991

Taxation and social security

 

2,643

-

Other creditors

 

5,338

4,816

 

55,490

51,807

 

William Griffith (Whitburn) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Loans to related parties

Terms of loans to related parties

At 31/03/2024 William Griffith (Topco) Ltd owed £46,716 (2023: £37,431) to William Griffith (Whitburn) Limited.

The above loan is repayable on demand.

 

Terms of loans from related parties

At 31/03/2024 William Griffith (Whitburn) Ltd owed £47,509 (2023: £46,991) to William Griffith (Rumford) Ltd.

The above loan is repayable on demand.

Ultimate Controlling Party

William Griffith (Topco) Ltd controls the company by virtue of a controlling interest of 100% of the company's issued share capital.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
William Griffith (Whitburn) Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of William Griffith (Whitburn) Limited for the year ended 31 March 2024 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of William Griffith (Whitburn) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of William Griffith (Whitburn) Limited and state those matters that we have agreed to state to the Board of Directors of William Griffith (Whitburn) Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than William Griffith (Whitburn) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that William Griffith (Whitburn) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of William Griffith (Whitburn) Limited. You consider that William Griffith (Whitburn) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of William Griffith (Whitburn) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants (Trading name)
Yates Business Solutions Ltd
Unit 4B, Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

11 July 2024