Company registration number 00852771 (England and Wales)
GRIFFIN-WOODHOUSE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GRIFFIN-WOODHOUSE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GRIFFIN-WOODHOUSE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
202,637
255,822
Current assets
Stocks
4
350,587
88,144
Debtors
5
364,566
776,992
Cash at bank and in hand
669,714
586,754
1,384,867
1,451,890
Creditors: amounts falling due within one year
6
(884,812)
(952,752)
Net current assets
500,055
499,138
Total assets less current liabilities
702,692
754,960
Creditors: amounts falling due after more than one year
7
(17,500)
(47,500)
Provisions for liabilities
(53,534)
(63,956)
Net assets
631,658
643,504
Capital and reserves
Called up share capital
300
300
Other reserves
11,442
11,442
Profit and loss reserves
619,916
631,762
Total equity
631,658
643,504

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

GRIFFIN-WOODHOUSE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 March 2025 and are signed on its behalf by:
David Timmington
J S Timmington
Director
Director
Company Registration No. 00852771
GRIFFIN-WOODHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Griffin-Woodhouse Limited is a private company limited by shares incorporated in England and Wales. The registered office is Woods Lane, Cradley Heath, West Midlands, B64 7AR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Reducing balance
Fixtures, fittings & equipment
25% Reducing balance
Motor vehicles
25% Reducing balance
1.4
Stocks

Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

 

1.5
Financial instruments

The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.

Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.

GRIFFIN-WOODHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
9
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
735,654
Disposals
(11,500)
At 31 December 2024
724,154
Depreciation and impairment
At 1 January 2024
479,831
Depreciation charged in the year
41,686
At 31 December 2024
521,517
Carrying amount
At 31 December 2024
202,637
At 31 December 2023
255,822
Last year c/fwd cost
735,653
Differs from this year b/fwd by
1
GRIFFIN-WOODHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Stocks
2024
2023
£
£
Stocks
350,587
104,207
Payments received on account
-
0
(16,063)
350,587
88,144
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
342,521
752,886
Other debtors
22,045
24,106
364,566
776,992

 

6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
162,003
191,283
Corporation tax
20,944
69,114
Other taxation and social security
136,357
131,353
Other creditors
565,508
561,002
884,812
952,752
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
17,500
47,500
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