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Company No: 12631167 (England and Wales)

GRIFFITHS ASSET MANAGEMENT LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

GRIFFITHS ASSET MANAGEMENT LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

GRIFFITHS ASSET MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
GRIFFITHS ASSET MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 31.12.2023 31.12.2022
£ £
Fixed assets
Investments 3 2,000,000 2,000,000
2,000,000 2,000,000
Creditors: amounts falling due within one year 4 ( 5,893) ( 5,353)
Net current liabilities (5,893) (5,353)
Total assets less current liabilities 1,994,107 1,994,647
Net assets 1,994,107 1,994,647
Capital and reserves
Called-up share capital 5 2,000,000 2,000,000
Profit and loss account ( 5,893 ) ( 5,353 )
Total shareholders' funds 1,994,107 1,994,647

For the financial year ending 31 December 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 Griffiths Asset Management Ltd (registered number: 12631167) were approved and authorised for issue by the Board of Directors on 22 July 2024. They were signed on its behalf by:

Julie Griffiths
Director
GRIFFITHS ASSET MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
GRIFFITHS ASSET MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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 period, unless otherwise stated.

General information and basis of accounting

Griffiths Asset Management 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 Williamson Suite, 1 Barnfield Crescent, Exeter, EX1 1QT, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Reporting period length

The prior year accounts were changed to a 9 month reporting period ending 31 December 2022 to bring it in line with companies under common control. As a result of this, the current period figures are not entirely comparable to prior period figures.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
31.12.2023
Period from
01.04.2022 to
31.12.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Investments in subsidiaries

31.12.2023
£
Cost
At 01 January 2023 2,000,000
At 31 December 2023 2,000,000
Carrying value at 31 December 2023 2,000,000
Carrying value at 31 December 2022 2,000,000

4. Creditors: amounts falling due within one year

31.12.2023 31.12.2022
£ £
Trade creditors 0 1,273
Amounts owed to Group undertakings 2,533 0
Accruals 2,280 2,280
Other creditors 1,080 1,800
5,893 5,353

5. Called-up share capital

31.12.2023 31.12.2022
£ £
Allotted, called-up and fully-paid
2,000,000 Ordinary shares of £ 1.00 each 2,000,000 2,000,000