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REGISTERED NUMBER: 05891830 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

MIKE GRIFFITHS LTD

MIKE GRIFFITHS LTD (REGISTERED NUMBER: 05891830)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


MIKE GRIFFITHS LTD (REGISTERED NUMBER: 05891830)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 93,499 124,572
Investments 6 179,898 158,575
273,397 283,147

CURRENT ASSETS
Debtors 7 17,759 18,325
Cash at bank 172,504 142,423
190,263 160,748
CREDITORS
Amounts falling due within one year 8 207,921 154,597
NET CURRENT (LIABILITIES)/ASSETS (17,658 ) 6,151
TOTAL ASSETS LESS CURRENT LIABILITIES 255,739 289,298

CREDITORS
Amounts falling due after more than one year 9 (74,249 ) (91,914 )

PROVISIONS FOR LIABILITIES (26,571 ) (28,711 )
NET ASSETS 154,919 168,673

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 154,819 168,573
SHAREHOLDERS' FUNDS 154,919 168,673

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

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

The director acknowledges his 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.

MIKE GRIFFITHS LTD (REGISTERED NUMBER: 05891830)

Balance Sheet - continued
31 August 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





Mr M H Griffiths - Director


MIKE GRIFFITHS LTD (REGISTERED NUMBER: 05891830)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Mike Griffiths Ltd is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 05891830

Registered office: 50 Small Meadow Court
Caerphilly
Mid Glamorgan
CF83 3RT

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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% Straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


MIKE GRIFFITHS LTD (REGISTERED NUMBER: 05891830)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 355,000
AMORTISATION
At 1 September 2023
and 31 August 2024 355,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

MIKE GRIFFITHS LTD (REGISTERED NUMBER: 05891830)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 September 2023 33,434 123,903 157,337
Additions 3,572 - 3,572
At 31 August 2024 37,006 123,903 160,909
DEPRECIATION
At 1 September 2023 17,277 15,488 32,765
Charge for year 3,669 30,976 34,645
At 31 August 2024 20,946 46,464 67,410
NET BOOK VALUE
At 31 August 2024 16,060 77,439 93,499
At 31 August 2023 16,157 108,415 124,572

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 September 2023 158,575
Revaluations 21,323
At 31 August 2024 179,898
NET BOOK VALUE
At 31 August 2024 179,898
At 31 August 2023 158,575


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 17,759 18,325

MIKE GRIFFITHS LTD (REGISTERED NUMBER: 05891830)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Hire purchase contracts (see note 11) 7,665 5,527
Social security and other taxes 187,736 136,760
Accruals and deferred income 2,520 2,310
207,921 154,597

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 12,500 22,500
Hire purchase contracts (see note 11) 61,749 69,414
74,249 91,914

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 12,500 22,500

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 7,665 5,527
Between one and five years 61,749 69,414
69,414 74,941

MIKE GRIFFITHS LTD (REGISTERED NUMBER: 05891830)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


11. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 10,825 10,825
Between one and five years 4,510 15,335
15,335 26,160

The amount of non-cancellable operating lease payments recognised as an expense during the year was £10,825 (2023 - £10,825).

The hire purchase liabilities are secured against the assets to which they relate.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
45 Ordinary £1 45 45
10 Ordinary A £1 45 45
45 Ordinary B £1 10 10
100 100