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REGISTERED NUMBER: 02943796















GRIFFITHS WAITE LIMITED

Unaudited Financial Statements for the Year Ended 30 June 2024






GRIFFITHS WAITE LIMITED (REGISTERED NUMBER: 02943796)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

GRIFFITHS WAITE LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M Simpson
I Heathcock
M Waite
I Khan
S Lawrence





SECRETARY: M Waite





REGISTERED OFFICE: 6th Floor
Centre City
5 - 7 Hill Street
Birmingham
B5 4UA





REGISTERED NUMBER: 02943796





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

GRIFFITHS WAITE LIMITED (REGISTERED NUMBER: 02943796)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 59,699 114,398
Tangible assets 5 68,511 64,597
128,210 178,995

CURRENT ASSETS
Debtors 6 455,586 299,325
Cash at bank 816,738 1,854,769
1,272,324 2,154,094
CREDITORS
Amounts falling due within one year 7 1,122,471 943,077
NET CURRENT ASSETS 149,853 1,211,017
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,063

1,390,012

CREDITORS
Amounts falling due after more than one
year

8

9,167

57,220
NET ASSETS 268,896 1,332,792

CAPITAL AND RESERVES
Called up share capital 11 898 898
Retained earnings 267,998 1,331,894
SHAREHOLDERS' FUNDS 268,896 1,332,792

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

GRIFFITHS WAITE LIMITED (REGISTERED NUMBER: 02943796)

Balance Sheet - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:





M Waite - Director


GRIFFITHS WAITE LIMITED (REGISTERED NUMBER: 02943796)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the £.

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 recognised in line with the services provided. Support fees are charged in line with the contract. Deferred revenue is recognised when invoices span over the year end date. Any other fees charged are one off fees and are recognised when the work has been completed.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Website is being amortised evenly over its estimated useful life of six years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Hardware & software - 25% on cost
Fixtures and fittings - 25% on cost

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changed recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


GRIFFITHS WAITE LIMITED (REGISTERED NUMBER: 02943796)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 415,123
AMORTISATION
At 1 July 2023 300,725
Charge for year 54,699
At 30 June 2024 355,424
NET BOOK VALUE
At 30 June 2024 59,699
At 30 June 2023 114,398

GRIFFITHS WAITE LIMITED (REGISTERED NUMBER: 02943796)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Hardware and
improvements & software fittings Totals
£    £    £    £   
COST
At 1 July 2023 38,004 289,708 197,146 524,858
Additions - 39,286 - 39,286
Disposals - (10,614 ) - (10,614 )
At 30 June 2024 38,004 318,380 197,146 553,530
DEPRECIATION
At 1 July 2023 31,686 232,858 195,717 460,261
Charge for year 3,800 28,288 632 32,720
Eliminated on disposal - (7,962 ) - (7,962 )
At 30 June 2024 35,486 253,184 196,349 485,019
NET BOOK VALUE
At 30 June 2024 2,518 65,196 797 68,511
At 30 June 2023 6,318 56,850 1,429 64,597

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 294,766 162,257
Directors' current accounts 10,000 -
Prepayments 150,820 137,068
455,586 299,325

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,000 10,000
Pension fund loan 38,053 37,027
Trade creditors 150,372 164,582
Social security and other taxes 168,802 209,820
Other creditors 31,316 7,127
Accrued expenses and deferred
income 723,928 514,521
1,122,471 943,077

GRIFFITHS WAITE LIMITED (REGISTERED NUMBER: 02943796)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank Loan - 2-5 years 9,167 19,167
Pension fund loans - 2-5 years - 38,053
9,167 57,220

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 19,519 146,178
Between one and five years 10,337 2,939
29,856 149,117

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Pension fund loan 38,053 75,080

The pension fund loan is secured by a fixed first charge over all real properties held now and in the future.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
8,975 Ordinary £0.10 898 898

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Griffiths Waite EOT Trustees Limited.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Griffiths Waite Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Griffiths Waite Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Griffiths Waite Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Griffiths Waite Limited and state those matters that we have agreed to state to the Board of Directors of Griffiths Waite Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Griffiths Waite Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Griffiths Waite Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Griffiths Waite Limited. You consider that Griffiths Waite Limited 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 financial statements of Griffiths Waite Limited. 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 financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


9 September 2024