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REGISTERED NUMBER: 10675082 (England and Wales)














GRIFFINS ELECTRICAL SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






GRIFFINS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 10675082)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


GRIFFINS ELECTRICAL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr T J Griffin
Mr G J Griffin





REGISTERED OFFICE: Appletree Cottage
Parsonage Lane
Icklesham
East Sussex
TN36 4BL





REGISTERED NUMBER: 10675082 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ

GRIFFINS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 10675082)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,090 2,811

CURRENT ASSETS
Stocks 1,500 1,250
Debtors 5 32,398 31,084
Cash at bank 3,822 1,504
37,720 33,838
CREDITORS
Amounts falling due within one year 6 30,768 18,149
NET CURRENT ASSETS 6,952 15,689
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,042

18,500

CREDITORS
Amounts falling due after more than
one year

7

(9,999

)

(18,000

)

PROVISIONS FOR LIABILITIES (730 ) (477 )
NET ASSETS 313 23

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 312 22
SHAREHOLDERS' FUNDS 313 23

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.

GRIFFINS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 10675082)

BALANCE SHEET - continued
31 MARCH 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 12 September 2024 and were signed on its behalf by:




Mr T J Griffin - Director



Mr G J Griffin - Director


GRIFFINS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 10675082)

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


1. STATUTORY INFORMATION

Griffins Electrical Services 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.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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

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.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GRIFFINS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 10675082)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 5,583 3,107 1,345 10,035
Additions 2,752 - - 2,752
At 31 March 2024 8,335 3,107 1,345 12,787
DEPRECIATION
At 1 April 2023 3,601 2,371 1,252 7,224
Charge for year 1,196 184 93 1,473
At 31 March 2024 4,797 2,555 1,345 8,697
NET BOOK VALUE
At 31 March 2024 3,538 552 - 4,090
At 31 March 2023 1,982 736 93 2,811

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,753 7,002
Other debtors 21,645 24,082
32,398 31,084

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,124 8,000
Trade creditors 580 2,578
Taxation and social security 13,004 6,671
Other creditors 1,060 900
30,768 18,149

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,999 18,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £0.01 1 1

GRIFFINS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 10675082)

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


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr G J Griffin
Balance outstanding at start of year 6,567 3,276
Amounts advanced 3,550 27,511
Amounts repaid (6,567 ) (24,220 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,550 6,567

Mr T J Griffin
Balance outstanding at start of year 9,265 2,728
Amounts advanced 6,721 32,325
Amounts repaid (9,265 ) (25,788 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,721 9,265

The balance will be repaid within 9 months of the year end.