Silverfin false false 30/11/2023 01/12/2022 30/11/2023 Mrs L A Hay Mr S Hay 21/03/2023 Mr J Hay 16/05/2023 Mr B Hay 16/05/2023 28 August 2024 The principal activity of the Company during the financial year is combined facilities support activities. 07852735 2023-11-30 07852735 bus:Director2 2023-11-30 07852735 bus:Director3 2023-11-30 07852735 bus:Director4 2023-11-30 07852735 2022-11-30 07852735 core:CurrentFinancialInstruments 2023-11-30 07852735 core:CurrentFinancialInstruments 2022-11-30 07852735 core:Non-currentFinancialInstruments 2023-11-30 07852735 core:Non-currentFinancialInstruments 2022-11-30 07852735 core:ShareCapital 2023-11-30 07852735 core:ShareCapital 2022-11-30 07852735 core:RevaluationReserve 2023-11-30 07852735 core:RevaluationReserve 2022-11-30 07852735 core:RetainedEarningsAccumulatedLosses 2023-11-30 07852735 core:RetainedEarningsAccumulatedLosses 2022-11-30 07852735 core:PlantMachinery 2022-11-30 07852735 core:Vehicles 2022-11-30 07852735 core:PlantMachinery 2023-11-30 07852735 core:Vehicles 2023-11-30 07852735 bus:OrdinaryShareClass1 2023-11-30 07852735 bus:OrdinaryShareClass2 2023-11-30 07852735 2022-12-01 2023-11-30 07852735 bus:FilletedAccounts 2022-12-01 2023-11-30 07852735 bus:SmallEntities 2022-12-01 2023-11-30 07852735 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07852735 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07852735 bus:Director1 2022-12-01 2023-11-30 07852735 bus:Director2 2022-12-01 2023-11-30 07852735 bus:Director3 2022-12-01 2023-11-30 07852735 bus:Director4 2022-12-01 2023-11-30 07852735 core:PlantMachinery 2022-12-01 2023-11-30 07852735 core:PlantMachinery core:TopRangeValue 2022-12-01 2023-11-30 07852735 core:Vehicles 2022-12-01 2023-11-30 07852735 2021-12-01 2022-11-30 07852735 core:Non-currentFinancialInstruments 2022-12-01 2023-11-30 07852735 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 07852735 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 07852735 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 07852735 bus:OrdinaryShareClass2 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07852735 (England and Wales)

GRIFFITHS OAK LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

GRIFFITHS OAK LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

GRIFFITHS OAK LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2023
GRIFFITHS OAK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTORS Mrs L A Hay
Mr S Hay (Resigned 21 March 2023)
Mr J Hay (Appointed 16 May 2023)
Mr B Hay (Appointed 16 May 2023)
REGISTERED OFFICE Lower Cleeve Farm
Ross-On-Wye
HR9 7TD
United Kingdom
COMPANY NUMBER 07852735 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
GRIFFITHS OAK LIMITED

BALANCE SHEET

As at 30 November 2023
GRIFFITHS OAK LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 6,533,120 6,997,377
6,533,120 6,997,377
Current assets
Stocks 4 88,112 89,430
Debtors 5 2,290,280 2,126,857
Cash at bank and in hand 85,937 7,310
2,464,329 2,223,597
Creditors: amounts falling due within one year 6 ( 1,557,100) ( 2,127,139)
Net current assets 907,229 96,458
Total assets less current liabilities 7,440,349 7,093,835
Creditors: amounts falling due after more than one year 7 ( 4,620,054) ( 4,325,988)
Provision for liabilities ( 790,294) ( 732,182)
Net assets 2,030,001 2,035,665
Capital and reserves
Called-up share capital 8 100 100
Revaluation reserve 997,500 997,500
Profit and loss account 1,032,401 1,038,065
Total shareholders' funds 2,030,001 2,035,665

For the financial year ending 30 November 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 Oak Limited (registered number: 07852735) were approved and authorised for issue by the Board of Directors on 28 August 2024. They were signed on its behalf by:

Mrs L A Hay
Director
Mr J Hay
Director
Mr B Hay
Director
GRIFFITHS OAK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
GRIFFITHS OAK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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 year, unless otherwise stated.

General information and basis of accounting

Griffiths Oak Limited (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 Lower Cleeve Farm, Ross-On-Wye, HR9 7TD, 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 Balance Sheet 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.

Turnover

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 5 - 20 % reducing balance
5 years straight line
Vehicles 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. [MANUFACTURERS, ETC - Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.] Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 December 2022 9,410,704 286,040 9,696,744
Additions 171,355 67,893 239,248
Disposals 0 ( 40,920) ( 40,920)
At 30 November 2023 9,582,059 313,013 9,895,072
Accumulated depreciation
At 01 December 2022 2,545,679 153,688 2,699,367
Charge for the financial year 654,697 37,858 692,555
Disposals 0 ( 29,970) ( 29,970)
At 30 November 2023 3,200,376 161,576 3,361,952
Net book value
At 30 November 2023 6,381,683 151,437 6,533,120
At 30 November 2022 6,865,025 132,352 6,997,377

4. Stocks

2023 2022
£ £
Stocks 88,112 89,430

5. Debtors

2023 2022
£ £
Trade debtors 1,784,982 1,794,942
Other debtors 505,298 331,915
2,290,280 2,126,857

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 0 322,378
Trade creditors 818,300 643,788
Obligations under finance leases and hire purchase contracts 405,820 423,109
Other creditors 332,980 737,864
1,557,100 2,127,139

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 4,000,000 4,000,000
Obligations under finance leases and hire purchase contracts 620,054 325,988
4,620,054 4,325,988

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
9,500 A ordinary shares of £ 0.01 each 95 95
500 B ordinary shares of £ 0.01 each 5 5
100 100

9. Reserves

2023 2022
£ £
Surplus/ (deficit) on revaluation of other assets 997,500 997,500