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Registration number: 06372623

Griffiths & James Electrical Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Griffiths & James Electrical Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Griffiths & James Electrical Services Limited

Company Information

Director

Mr A W Griffiths

Company secretary

Mr A W Griffiths

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Griffiths & James Electrical Services Limited

(Registration number: 06372623)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

1,725

1,725

Cash at bank and in hand

 

149

149

 

1,874

1,874

Creditors: Amounts falling due within one year

5

(70,701)

(70,701)

Net liabilities

 

(68,827)

(68,827)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(68,829)

(68,829)

Total equity

 

(68,827)

(68,827)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 26 June 2025
 

.........................................
Mr A W Griffiths
Company secretary and director

   
     
 

Griffiths & James Electrical Services Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
Blaenlliedi Farm
Sylen Road
Pontyberem
Llanelli
SA15 5NN

These financial statements were authorised for issue by the director on 26 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors will support the company for the foreseeable future and pay debts as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Griffiths & James Electrical Services Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% reducing balance

Plant and machinery

20% reducing balance

Office equipment

33.33% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Fully amortised

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Griffiths & James Electrical Services Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Debtors

2024
£

2023
£

Other debtors

1,725

1,725

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

1,210

Directors' loan accounts

7

70,701

69,341

Other creditors

 

-

150

 

70,701

70,701

 

Griffiths & James Electrical Services Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Other payments made to company by director
£

At 30 September 2024
£

Mr A W Griffiths

Interest free loan with no fixed repayment terms

(69,341)

(1,360)

(70,701)

       
     

 

2023

At 1 October 2022
£

Other payments made to company by director
£

At 30 September 2023
£

Mr A W Griffiths

Interest free loan with no fixed repayment terms

(57,972)

(11,369)

(69,341)