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COMPANY REGISTRATION NUMBER: 15071566
Terry Griffith Limited
Filleted Unaudited Abridged Financial Statements
31 August 2024
Terry Griffith Limited
Abridged Financial Statements
Period from 14 August 2023 to 31 August 2024
Contents
Pages
Officers and professional advisers
1
Abridged statement of financial position
2 to 3
Notes to the abridged financial statements
4 to 5
Terry Griffith Limited
Officers and Professional Advisers
Director
Mr T Griffith
Registered office
88 High Street
Ramsey
Huntingdon
Cambs.
PE26 1BS
Accountants
SR Howell & Co
Chartered Certified Accountants
88 High Street
Ramsey
Huntingdon
Cambs
PE26 1BS
Terry Griffith Limited
Abridged Statement of Financial Position
31 August 2024
31 Aug 24
Note
£
Fixed assets
Tangible assets
5
656
Current assets
Stocks
176,337
Debtors
1,411
---------
177,748
Creditors: amounts falling due within one year
179,652
---------
Net current liabilities
1,904
-------
Total assets less current liabilities
( 1,248)
-------
Net liabilities
( 1,248)
-------
Capital and reserves
Called up share capital
100
Profit and loss account
( 1,348)
-------
Shareholder deficit
( 1,248)
-------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Terry Griffith Limited
Abridged Statement of Financial Position (continued)
31 August 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 14 May 2025 , and are signed on behalf of the board by:
Mr T Griffith
Director
Company registration number: 15071566
Terry Griffith Limited
Notes to the Abridged Financial Statements
Period from 14 August 2023 to 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 88 High Street, Ramsey, Huntingdon, Cambs., PE26 1BS.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
£
Cost
At 14 August 2023
Additions
700
----
At 31 August 2024
700
----
Depreciation
At 14 August 2023
Charge for the period
44
----
At 31 August 2024
44
----
Carrying amount
At 31 August 2024
656
----
6. Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
31 Aug 24
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr T Griffith
( 178,752)
( 178,752)
----
---------
---------