Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31152023-06-01falseNo description of principal activity15truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01786962 2023-06-01 2024-05-31 01786962 2022-06-01 2023-05-31 01786962 2024-05-31 01786962 2023-05-31 01786962 2022-06-01 01786962 c:Director5 2023-06-01 2024-05-31 01786962 d:PlantMachinery 2023-06-01 2024-05-31 01786962 d:PlantMachinery 2024-05-31 01786962 d:PlantMachinery 2023-05-31 01786962 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01786962 d:MotorVehicles 2023-06-01 2024-05-31 01786962 d:MotorVehicles 2024-05-31 01786962 d:MotorVehicles 2023-05-31 01786962 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01786962 d:FurnitureFittings 2023-06-01 2024-05-31 01786962 d:FurnitureFittings 2024-05-31 01786962 d:FurnitureFittings 2023-05-31 01786962 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01786962 d:ComputerEquipment 2023-06-01 2024-05-31 01786962 d:ComputerEquipment 2024-05-31 01786962 d:ComputerEquipment 2023-05-31 01786962 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01786962 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01786962 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-01 2024-05-31 01786962 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-05-31 01786962 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-05-31 01786962 d:CurrentFinancialInstruments 2024-05-31 01786962 d:CurrentFinancialInstruments 2023-05-31 01786962 d:Non-currentFinancialInstruments 2024-05-31 01786962 d:Non-currentFinancialInstruments 2023-05-31 01786962 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 01786962 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 01786962 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 01786962 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 01786962 d:ShareCapital 2024-05-31 01786962 d:ShareCapital 2023-05-31 01786962 d:RetainedEarningsAccumulatedLosses 2024-05-31 01786962 d:RetainedEarningsAccumulatedLosses 2023-05-31 01786962 c:FRS102 2023-06-01 2024-05-31 01786962 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 01786962 c:FullAccounts 2023-06-01 2024-05-31 01786962 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 01786962 d:WithinOneYear 2024-05-31 01786962 d:WithinOneYear 2023-05-31 01786962 d:CopyrightsPatentsTrademarksServiceOperatingRights d:ExternallyAcquiredIntangibleAssets 2023-06-01 2024-05-31 01786962 2 2023-06-01 2024-05-31 01786962 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 01786962 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 01786962 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-05-31 01786962 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-31 01786962 d:LeasedAssetsHeldAsLessee 2024-05-31 01786962 d:LeasedAssetsHeldAsLessee 2023-05-31 01786962 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-06-01 2024-05-31 01786962 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 01786962










GRIFFIN GLASSHOUSES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
GRIFFIN GLASSHOUSES LIMITED
REGISTERED NUMBER: 01786962

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
  
254
-

Tangible assets
 5 
72,509
94,031

  
72,763
94,031

Current assets
  

Stocks
 6 
155,946
132,416

Debtors: amounts falling due within one year
 7 
47,003
41,581

Cash at bank and in hand
  
654,874
388,024

  
857,823
562,021

Creditors: amounts falling due within one year
 8 
(469,373)
(497,448)

Net current assets
  
 
 
388,450
 
 
64,573

Total assets less current liabilities
  
461,213
158,604

Creditors: amounts falling due after more than one year
 9 
-
(9,330)

Provisions for liabilities
  

Deferred tax
 10 
(18,127)
(17,866)

  
 
 
(18,127)
 
 
(17,866)

Net assets
  
443,086
131,408


Capital and reserves
  

Called up share capital 
  
99
99

Profit and loss account
  
442,987
131,309

  
443,086
131,408

Page 1

 
GRIFFIN GLASSHOUSES LIMITED
REGISTERED NUMBER: 01786962
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
C J Waltho
Director

Date: 25 February 2025

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
GRIFFIN GLASSHOUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Griffin Glasshouses Limited (01786962) is a private company limited by shares and incorporated in England and Wales.  Its registered office is Olympic House Bramshall Industrial Estate, Bramshall, Uttoxeter, ST14 8TD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in GBP rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Trademarks
-
10
years

Page 3

 
GRIFFIN GLASSHOUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Computer equipment
-
33.3% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
GRIFFIN GLASSHOUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
GRIFFIN GLASSHOUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 15).

Page 6

 
GRIFFIN GLASSHOUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Intangible assets




Trademarks

£



Cost


Additions
270



At 31 May 2024

270



Amortisation


Charge for the year on owned assets
16



At 31 May 2024

16



Net book value



At 31 May 2024
254



At 31 May 2023
-



Page 7

 
GRIFFIN GLASSHOUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
270,086
128,902
21,433
9,973
430,394


Additions
366
16,242
-
2,008
18,616


Disposals
(9,272)
(21,719)
(4,885)
(6,432)
(42,308)



At 31 May 2024

261,180
123,425
16,548
5,549
406,702



Depreciation


At 1 June 2023
243,868
66,895
16,036
9,564
336,363


Charge for the year on owned assets
6,493
15,151
1,342
546
23,532


Disposals
(7,654)
(6,780)
(4,837)
(6,431)
(25,702)



At 31 May 2024

242,707
75,266
12,541
3,679
334,193



Net book value



At 31 May 2024
18,473
48,159
4,007
1,870
72,509



At 31 May 2023
26,218
62,007
5,397
409
94,031

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
23,683
31,577

23,683
31,577

Page 8

 
GRIFFIN GLASSHOUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Stocks

2024
2023
£
£

Raw materials and consumables
89,215
82,809

Work in progress
66,731
49,607

155,946
132,416



7.


Debtors

2024
2023
£
£


Trade debtors
37,144
13,234

Other debtors
8,224
-

Prepayments and accrued income
1,635
28,347

47,003
41,581



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
57,632
134,042

Corporation tax
112,660
6,094

Other taxation and social security
59,229
49,168

Obligations under finance lease and hire purchase contracts
6,464
14,815

Other creditors
11,700
14,877

Accruals and deferred income
221,688
278,452

469,373
497,448



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
-
9,330

-
9,330


Page 9

 
GRIFFIN GLASSHOUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
(17,866)
(11,872)


Charged to profit or loss
(261)
(5,994)



At end of year
(18,127)
(17,866)

2024
2023
£
£


Accelerated capital allowances
(18,127)
(17,866)

(18,127)
(17,866)


11.


Commitments under operating leases

At 31 May 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
30,800
20,000

30,800
20,000

 
Page 10