William Griffith (Rumford) Ltd. SC337202 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property development company. Digita Accounts Production Advanced 6.30.9574.0 true SC337202 2023-04-01 2024-03-31 SC337202 2024-03-31 SC337202 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC337202 core:ShareCapital 2024-03-31 SC337202 core:CurrentFinancialInstruments 2024-03-31 SC337202 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC337202 core:ParentEntities 2024-03-31 SC337202 bus:SmallEntities 2023-04-01 2024-03-31 SC337202 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC337202 bus:FilletedAccounts 2023-04-01 2024-03-31 SC337202 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC337202 bus:RegisteredOffice 2023-04-01 2024-03-31 SC337202 bus:Director1 2023-04-01 2024-03-31 SC337202 bus:Director3 2023-04-01 2024-03-31 SC337202 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC337202 bus:Agent1 2023-04-01 2024-03-31 SC337202 core:ParentEntities 2023-04-01 2024-03-31 SC337202 countries:Scotland 2023-04-01 2024-03-31 SC337202 core:ParentEntities 2023-03-31 SC337202 2022-04-01 2023-03-31 SC337202 2023-03-31 SC337202 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC337202 core:ShareCapital 2023-03-31 SC337202 core:CurrentFinancialInstruments 2023-03-31 SC337202 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 SC337202 core:ParentEntities 2023-03-31 SC337202 core:ParentEntities 2022-04-01 2023-03-31 SC337202 core:ParentEntities 2022-03-31 iso4217:GBP xbrli:pure

Registration number: SC337202

William Griffith (Rumford) Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

William Griffith (Rumford) Ltd.

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

Accountants' Report

6

 

William Griffith (Rumford) Ltd.

Company Information

Directors

Mr William Griffith

Mr Andrew 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 (Rumford) Ltd.

(Registration number: SC337202)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

126,000

126,000

Debtors

5

47,510

46,992

Cash at bank and in hand

 

30,007

641

 

203,517

173,633

Creditors: Amounts falling due within one year

6

(31,190)

(1,376)

Net assets

 

172,327

172,257

Capital and reserves

 

Called up share capital

4

4

Retained earnings

172,323

172,253

Shareholders' funds

 

172,327

172,257

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.

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

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

 

William Griffith (Rumford) Ltd.

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 current 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.

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 taxable income.

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.

 

William Griffith (Rumford) Ltd.

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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.

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 3 (2023 - 3).

4

Stocks

2024
£

2023
£

Other inventories

126,000

126,000

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

7

47,509

46,991

Other debtors

 

1

1

   

47,510

46,992

 

William Griffith (Rumford) Ltd.

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

327

522

Other creditors

30,863

854

31,190

1,376

7

Related party transactions

Other creditors includes a balance owed to a related party (J Sutherland) of £30,000 (2023: £Nil). This loan is repayable on demand.

Loans to related parties

2024

Parent
£

At start of period

46,991

Advanced

1,808

Repaid

(1,291)

At end of period

47,508

2023

Parent
£

At start of period

46,412

Advanced

1,875

Repaid

(1,296)

At end of period

46,991

Terms of loans to related parties

The above loan is repayable on demand.
 

8

Ultimate controlling party

William Griffith (Whitburn) Ltd, controls the company by virtue of a controlling interest of 50% of the issued ordinary share capital.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
William Griffith (Rumford) Ltd.
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 (Rumford) Ltd. for the year ended 31 March 2024 as set out on pages 2 to 5 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 (Rumford) Ltd., 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 (Rumford) Ltd. and state those matters that we have agreed to state to the Board of Directors of William Griffith (Rumford) Ltd., 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 (Rumford) Ltd. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that William Griffith (Rumford) Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of William Griffith (Rumford) Ltd.. You consider that William Griffith (Rumford) Ltd. 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 (Rumford) Ltd.. 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