Gryphon I.T. Limited 03706356 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is consultancy and rental properties Digita Accounts Production Advanced 6.30.9574.0 true 03706356 2023-03-01 2024-02-29 03706356 2024-02-29 03706356 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 03706356 core:OfficeEquipment 2024-02-29 03706356 bus:SmallEntities 2023-03-01 2024-02-29 03706356 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 03706356 bus:FilletedAccounts 2023-03-01 2024-02-29 03706356 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 03706356 bus:RegisteredOffice 2023-03-01 2024-02-29 03706356 bus:CompanySecretary1 2023-03-01 2024-02-29 03706356 bus:Director1 2023-03-01 2024-02-29 03706356 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03706356 core:OfficeEquipment 2023-03-01 2024-02-29 03706356 countries:EnglandWales 2023-03-01 2024-02-29 03706356 2023-02-28 03706356 core:OfficeEquipment 2023-02-28 03706356 2022-03-01 2023-02-28 03706356 2023-02-28 03706356 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 03706356 core:OfficeEquipment 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 03706356

Gryphon I.T. Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Gryphon I.T. Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 5

 

Gryphon I.T. Limited

(Registration number: 03706356)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

141

238

Investment property

5

435,000

435,000

 

435,141

435,238

Current assets

 

Cash at bank and in hand

 

51,578

68,225

Creditors: Amounts falling due within one year

6

(4,875)

(4,038)

Net current assets

 

46,703

64,187

Net assets

 

481,844

499,425

Capital and reserves

 

Called up share capital

1,000

1,000

Other reserves

27,087

27,087

Retained earnings

453,757

471,338

Shareholders' funds

 

481,844

499,425

 

Gryphon I.T. Limited

(Registration number: 03706356)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 August 2024
 

.........................................
H J Boardman
Director

.........................................
J M Boardman
Company secretary

 

Gryphon I.T. Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
20 Orchard Close
Alresford
Hampshire
SO24 9PY
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 and provision of services in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax payable.

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.

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.

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

Office equipment

33% straight line basis

 

Gryphon I.T. Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

Gryphon I.T. Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

7,017

7,017

At 29 February 2024

7,017

7,017

Depreciation

At 1 March 2023

6,779

6,779

Charge for the year

97

97

At 29 February 2024

6,876

6,876

Carrying amount

At 29 February 2024

141

141

At 28 February 2023

238

238

5

Investment properties

2024
£

At 1 March

435,000

At 29 February

435,000

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,936

2,626

Other creditors

1,939

1,412

4,875

4,038