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REGISTERED NUMBER: 08458763 (England and Wales)












GAVIN GRIFFITHS CONTRACTING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






GAVIN GRIFFITHS CONTRACTING LTD (REGISTERED NUMBER: 08458763)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GAVIN GRIFFITHS CONTRACTING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G T J Griffiths
J Stephens





REGISTERED OFFICE: Beechwood House Bryntywod
Llangyfelach
Swansea
SA5 7LP





REGISTERED NUMBER: 08458763 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

GAVIN GRIFFITHS CONTRACTING LTD (REGISTERED NUMBER: 08458763)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,261 54,202

CURRENT ASSETS
Stocks - 35,001
Debtors 5 1,316,112 789,621
Cash at bank 81,010 18,743
1,397,122 843,365
CREDITORS
Amounts falling due within one year 6 841,204 365,059
NET CURRENT ASSETS 555,918 478,306
TOTAL ASSETS LESS CURRENT
LIABILITIES

589,179

532,508

CREDITORS
Amounts falling due after more than one
year

7

(18,633

)

(29,848

)

PROVISIONS FOR LIABILITIES (8,315 ) (13,550 )
NET ASSETS 562,231 489,110

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 562,131 489,010
562,231 489,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





G T J Griffiths - Director


GAVIN GRIFFITHS CONTRACTING LTD (REGISTERED NUMBER: 08458763)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Gavin Griffiths Contracting Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GAVIN GRIFFITHS CONTRACTING LTD (REGISTERED NUMBER: 08458763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered, less any impairment losses for bad and doubtful debts. Prepayments are valued at the amount prepaid net of any trade discounts due. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 76,772
DEPRECIATION
At 1 April 2023 22,570
Charge for year 20,941
At 31 March 2024 43,511
NET BOOK VALUE
At 31 March 2024 33,261
At 31 March 2023 54,202

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 47,515
DEPRECIATION
At 1 April 2023 6,652
Charge for year 7,603
At 31 March 2024 14,255
NET BOOK VALUE
At 31 March 2024 33,260
At 31 March 2023 40,863

GAVIN GRIFFITHS CONTRACTING LTD (REGISTERED NUMBER: 08458763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 749,187 456,494
Amounts owed by associates 320,722 273,071
Other debtors 246,203 60,056
1,316,112 789,621

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 11,326 10,506
Trade creditors 530,486 290,171
Amounts owed to associates 238,032 -
Taxation and social security 57,777 57,899
Other creditors 3,583 6,483
841,204 365,059

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 18,633 29,848

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 29,959 40,354

Hire purchase liabilities are secured by the assets to which the agreement relates, and are included within
tangible fixed assets.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
G T J Griffiths
Balance outstanding at start of year 23,252 27,252
Amounts repaid (1,000 ) (4,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,252 23,252

The maximum outstanding in the year was £23,252. All amounts were unsecured, interest free and repayable on demand..