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GRIFFITH-JONES IT LIMITED

Registered Number
05372488
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

GRIFFITH-JONES IT LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

JONES, Angela Kathryn
JONES, Gavin Gruffydd

Company Secretary

JONES, Gavin Gruffydd

Registered Address

Darntir North Road
Ponciau
Wrexham
LL14 1HB

Registered Number

05372488 (England and Wales)
GRIFFITH-JONES IT LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,3814,547
Investments4143,974143,974
149,355148,521
Current assets
Stocks52,1334,500
Debtors6,796398
Cash at bank and on hand178,54383,436
187,47288,334
Creditors amounts falling due within one year6(63,538)(40,985)
Net current assets (liabilities)123,93447,349
Total assets less current liabilities273,289195,870
Provisions for liabilities7(1,022)(1,137)
Net assets272,267194,733
Capital and reserves
Called up share capital100100
Profit and loss account272,167194,633
Shareholders' funds272,267194,733
The financial statements were approved and authorised for issue by the Board of Directors on 4 November 2024, and are signed on its behalf by:
JONES, Gavin Gruffydd
Director
Registered Company No. 05372488
GRIFFITH-JONES IT LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 May 2317,03217,032
Additions2,2032,203
At 30 April 2419,23519,235
Depreciation and impairment
At 01 May 2312,48512,485
Charge for year1,3691,369
At 30 April 2413,85413,854
Net book value
At 30 April 245,3815,381
At 30 April 234,5474,547
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 May 23143,974143,974
At 30 April 24143,974143,974
Net book value
At 30 April 24143,974143,974
At 30 April 23143,974143,974

Notes

1Other investments other than loans
5.Stocks

2024

2023

££
Work in progress2,1334,500
Total2,1334,500
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9051,041
Taxation and social security61,83739,938
Other creditors7966
Total63,53840,985
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,0221,137
Total1,0221,137