Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 SC060109 Mr John Griffin Mr Patrick Griffin Mr Kevin Griffin Mr Kevin Griffin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC060109 2022-10-31 SC060109 2023-10-31 SC060109 2022-11-01 2023-10-31 SC060109 frs-core:CurrentFinancialInstruments 2023-10-31 SC060109 frs-core:Non-currentFinancialInstruments 2023-10-31 SC060109 frs-core:BetweenOneFiveYears 2023-10-31 SC060109 frs-core:ComputerEquipment 2023-10-31 SC060109 frs-core:ComputerEquipment 2022-11-01 2023-10-31 SC060109 frs-core:ComputerEquipment 2022-10-31 SC060109 frs-core:FurnitureFittings 2023-10-31 SC060109 frs-core:FurnitureFittings 2022-11-01 2023-10-31 SC060109 frs-core:FurnitureFittings 2022-10-31 SC060109 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 SC060109 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC060109 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-10-31 SC060109 frs-core:MotorVehicles 2023-10-31 SC060109 frs-core:MotorVehicles 2022-11-01 2023-10-31 SC060109 frs-core:MotorVehicles 2022-10-31 SC060109 frs-core:PlantMachinery 2023-10-31 SC060109 frs-core:PlantMachinery 2022-11-01 2023-10-31 SC060109 frs-core:PlantMachinery 2022-10-31 SC060109 frs-core:WithinOneYear 2023-10-31 SC060109 frs-core:RevaluationReserve 2022-11-01 2023-10-31 SC060109 frs-core:RevaluationReserve 2022-10-31 SC060109 frs-core:RevaluationReserve 2023-10-31 SC060109 frs-core:ShareCapital 2023-10-31 SC060109 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 SC060109 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC060109 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 SC060109 frs-bus:SmallEntities 2022-11-01 2023-10-31 SC060109 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 SC060109 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC060109 frs-bus:Director1 2022-11-01 2023-10-31 SC060109 frs-bus:Director2 2022-11-01 2023-10-31 SC060109 frs-bus:Director2 2022-10-31 SC060109 frs-bus:Director2 2023-10-31 SC060109 frs-bus:Director3 2022-11-01 2023-10-31 SC060109 frs-bus:Director3 2022-10-31 SC060109 frs-bus:Director3 2023-10-31 SC060109 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 SC060109 frs-core:CurrentFinancialInstruments 1 2023-10-31 SC060109 frs-countries:Scotland 2022-11-01 2023-10-31 SC060109 2021-10-31 SC060109 2022-10-31 SC060109 2021-11-01 2022-10-31 SC060109 frs-core:CurrentFinancialInstruments 2022-10-31 SC060109 frs-core:Non-currentFinancialInstruments 2022-10-31 SC060109 frs-core:BetweenOneFiveYears 2022-10-31 SC060109 frs-core:MotorVehicles 2021-11-01 2022-10-31 SC060109 frs-core:PlantMachinery 2021-11-01 2022-10-31 SC060109 frs-core:WithinOneYear 2022-10-31 SC060109 frs-core:RevaluationReserve 2022-10-31 SC060109 frs-core:ShareCapital 2022-10-31 SC060109 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 SC060109 frs-core:CurrentFinancialInstruments 1 2022-10-31
Registered number: SC060109
P.J.Griffin & Sons Limited
Financial Statements
For The Year Ended 31 October 2023
Stewart Accounting Services Limited
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: SC060109
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 225,485 198,271
225,485 198,271
CURRENT ASSETS
Stocks 5 19,885 38,112
Debtors 6 88,380 68,571
Cash at bank and in hand 85,242 19,210
193,507 125,893
Creditors: Amounts Falling Due Within One Year 7 (263,108 ) (255,113 )
NET CURRENT ASSETS (LIABILITIES) (69,601 ) (129,220 )
TOTAL ASSETS LESS CURRENT LIABILITIES 155,884 69,051
Creditors: Amounts Falling Due After More Than One Year 8 (62,748 ) (50,282 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,847 ) (15,869 )
NET ASSETS 71,289 2,900
CAPITAL AND RESERVES
Called up share capital 11 14,329 14,329
Revaluation reserve 13 90,692 94,160
Profit and Loss Account (33,732 ) (105,589 )
SHAREHOLDERS' FUNDS 71,289 2,900
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Griffin
Director
2nd September 2024
The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
P.J.Griffin & Sons Limited is a private company, limited by shares, incorporated in Scotland, registered number SC060109 . The registered office is 10 East Murrayfield, Bannockburn, Stirling, Stirlingshire, FK7 8HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2.5% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
Page 3
Page 4
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2022: 16)
16 16
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 November 2022 170,000 259,420 171,247 8,061
Additions - 8,750 50,490 -
Disposals - - (26,000 ) -
As at 31 October 2023 170,000 268,170 195,737 8,061
Depreciation
As at 1 November 2022 55,250 196,093 151,794 7,652
...CONTINUED
Page 4
Page 5
Provided during the period 4,250 18,019 4,593 81
Disposals - - (20,837 ) -
As at 31 October 2023 59,500 214,112 135,550 7,733
Net Book Value
As at 31 October 2023 110,500 54,058 60,187 328
As at 1 November 2022 114,750 63,327 19,453 409
Computer Equipment Total
£ £
Cost
As at 1 November 2022 4,682 613,410
Additions 369 59,609
Disposals - (26,000 )
As at 31 October 2023 5,051 647,019
Depreciation
As at 1 November 2022 4,350 415,139
Provided during the period 289 27,232
Disposals - (20,837 )
As at 31 October 2023 4,639 421,534
Net Book Value
As at 31 October 2023 412 225,485
As at 1 November 2022 332 198,271
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Plant & Machinery 48,570 56,010
Motor Vehicles 56,469 16,496
105,039 72,506
Page 5
Page 6
Cost or valuation as at 31 October 2023 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
At cost 170,000 268,170 195,737 8,061
170,000 268,170 195,737 8,061
Computer Equipment Total
£ £
At cost 5,051 647,019
5,051 647,019
Freehold land and buildings were valued on an open market basis on 3rd November 2009 by Hardie Property Consultants.
If freehold land and buildings had not been revalued they would have been included at a cost of £31,265 (31/10/2022: £31,265) with aggregate depreciation of £29,531 (31/10/2022: £28,781).
5. Stocks
2023 2022
£ £
Stock 2,000 2,000
Work in progress 17,885 36,112
19,885 38,112
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 20,174 17,710
Corporation tax recoverable assets 8,631 5,897
VAT 25,807 11,858
Directors' loan accounts 33,768 33,106
88,380 68,571
Page 6
Page 7
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 26,207 17,508
Trade creditors 68,117 97,004
Bank loans and overdrafts 72,834 95,623
Corporation tax - (2,734 )
Other taxes and social security 14,867 7,209
Other loans 62,945 32,945
Directors' loan accounts 18,138 7,558
263,108 255,113
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 46,915 24,449
Bounce back loan 15,833 25,833
62,748 50,282
9. Secured Creditors
The bank overdraft is secured by a floating charge over the company's assets and standard securities over the
comapny's properties.
Hire purchase creditors are secured over the assets which they relate.
Of the creditors falling due within and after more than one year the following amounts are secured.
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 34,118 41,957
Bank loans and overdrafts 97,895 95,623
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 26,207 17,508
Later than one year and not later than five years 46,915 24,449
73,122 41,957
73,122 41,957
Page 7
Page 8
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 14,329 14,329
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Patrick Griffin 16,491 330 - - 16,821
Mr Kevin Griffin 16,615 332 - - 16,947
The above loan is unsecured, interest free and repayable on demand.
13. Reserves
Revaluation Reserve
£
As at 1 November 2022 94,160
Transfer to profit and loss (3,468 )
As at 31 October 2023 90,692
14. Related Party Transactions
Siobhan Griffin
Family member
£42,877 (31/10/2022: £22,877) due to the related party at the balance sheet date.
Grainne Griffin
Family member
£20,068 (31/10/2022: £10,068) due to the related party at the balance sheet date.
John Griffin
Family member, director and shareholder
£18,138 (31/10/2022: £7,558) due to the related party at the balance sheet date.
Page 8