Gryphonn Quarries Limited 02075352 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is quarrying and the sale of quarried products Digita Accounts Production Advanced 6.30.9574.0 02075352 2023-11-01 2024-10-31 02075352 2024-10-31 02075352 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-10-31 02075352 core:CurrentFinancialInstruments 2024-10-31 02075352 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 02075352 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 02075352 core:ConstructionInProgressAssetsUnderConstruction 2024-10-31 02075352 core:FurnitureFittingsToolsEquipment 2024-10-31 02075352 core:MotorVehicles 2024-10-31 02075352 core:OtherPropertyPlantEquipment 2024-10-31 02075352 core:ParentEntities 2024-10-31 02075352 bus:SmallEntities 2023-11-01 2024-10-31 02075352 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 02075352 bus:FilletedAccounts 2023-11-01 2024-10-31 02075352 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 02075352 bus:RegisteredOffice 2023-11-01 2024-10-31 02075352 bus:Director2 2023-11-01 2024-10-31 02075352 bus:Director3 2023-11-01 2024-10-31 02075352 bus:Director6 2023-11-01 2024-10-31 02075352 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-11-01 2024-10-31 02075352 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 02075352 core:ConstructionInProgressAssetsUnderConstruction 2023-11-01 2024-10-31 02075352 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 02075352 core:LeaseholdImprovements 2023-11-01 2024-10-31 02075352 core:MotorVehicles 2023-11-01 2024-10-31 02075352 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 02075352 core:PlantMachinery 2023-11-01 2024-10-31 02075352 core:KeyManagementPersonnel 2023-11-01 2024-10-31 02075352 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-11-01 2024-10-31 02075352 core:ParentEntities 2023-11-01 2024-10-31 02075352 countries:AllCountries 2023-11-01 2024-10-31 02075352 2023-10-31 02075352 core:ConstructionInProgressAssetsUnderConstruction 2023-10-31 02075352 core:FurnitureFittingsToolsEquipment 2023-10-31 02075352 core:MotorVehicles 2023-10-31 02075352 core:OtherPropertyPlantEquipment 2023-10-31 02075352 core:ParentEntities 2023-10-31 02075352 2022-11-01 2023-10-31 02075352 2023-10-31 02075352 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-10-31 02075352 core:CurrentFinancialInstruments 2023-10-31 02075352 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 02075352 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 02075352 core:ConstructionInProgressAssetsUnderConstruction 2023-10-31 02075352 core:FurnitureFittingsToolsEquipment 2023-10-31 02075352 core:MotorVehicles 2023-10-31 02075352 core:OtherPropertyPlantEquipment 2023-10-31 02075352 core:ParentEntities 2023-10-31 02075352 core:ParentEntities 2022-11-01 2023-10-31 02075352 2022-10-31 02075352 core:ParentEntities 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02075352

Gryphonn Quarries Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 October 2024

 

Gryphonn Quarries Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

Gryphonn Quarries Limited

Company Information

Directors

Mr Anthony Gilson

Mr Dean Gilson

Mr Huw Gilson

Registered office

Old Mill Works Gelligroes
Pontllanfraith
Blackwood
Gwent
NP12 2HY

Solicitors

Jacklyn Dawson Solicitors
Equity Chambers
John Frost Square
Newport
South Wales
NP20 1PW

Accountants

HSJ Accountants Ltd
Business and tax advisors
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Gryphonn Quarries Limited

(Registration number: 02075352)
Abridged Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

714,372

708,373

Current assets

 

Stocks

5

234,698

223,848

Debtors

2,602,008

2,439,209

Cash at bank and in hand

 

57,975

21,259

 

2,894,681

2,684,316

Prepayments and accrued income

 

113,091

170,799

Creditors: Amounts falling due within one year

6.1

(819,294)

(726,546)

Net current assets

 

2,188,478

2,128,569

Total assets less current liabilities

 

2,902,850

2,836,942

Creditors: Amounts falling due after more than one year

6.2

(169,968)

(231,410)

Provisions for liabilities

(164,047)

(161,533)

Accruals and deferred income

 

(49,991)

(75,173)

Net assets

 

2,518,844

2,368,826

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

2,518,744

2,368,726

Shareholders' funds

 

2,518,844

2,368,826

 

Gryphonn Quarries Limited

(Registration number: 02075352)
Abridged Balance Sheet as at 31 October 2024

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

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 July 2025 and signed on its behalf by:
 

.........................................

Mr Huw Gilson
Director

 

Gryphonn Quarries Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

1

General information

The company registration number is: 02075352.

The company is a incorporated in UK.

The address of its registered office is:
Old Mill Works Gelligroes
Pontllanfraith
Blackwood
Gwent
NP12 2HY

These financial statements were authorised for issue by the Board on 16 July 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 abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged 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.

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 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.

Tax

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

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 taxable income.

 

Gryphonn Quarries Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Other property plant and equipment

10% or 20% on cost per annum

Motor vehicles

20% on cost per annum

Leasehold quarry

4% on cost per annum

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.

Trade 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.

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.

 

Gryphonn Quarries Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

Trade 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Gryphonn Quarries Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 16).

 

Gryphonn Quarries Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Properties under construction
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

9,069

46,530

521,138

1,747,807

2,324,544

Additions

-

-

-

115,895

115,895

Disposals

-

-

-

(137,500)

(137,500)

At 31 October 2024

9,069

46,530

521,138

1,726,202

2,302,939

Depreciation

At 1 November 2023

7,511

39,182

458,897

1,110,581

1,616,171

Charge for the year

221

2,998

4,056

102,621

109,896

Eliminated on disposal

-

-

-

(137,500)

(137,500)

At 31 October 2024

7,732

42,180

462,953

1,075,702

1,588,567

Carrying amount

At 31 October 2024

1,337

4,350

58,185

650,500

714,372

At 31 October 2023

1,558

7,348

62,241

637,226

708,373

 

Gryphonn Quarries Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

234,698

223,848

6

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £118,759 (2023 - £89,395).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £169,968 (2023 - £231,410).

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Related party transactions

Key management personnel

Director

Summary of transactions with key management

During the year the directors made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date, the amount owed to the directors was £7,300 (2023 - £7,300).
 

Summary of transactions with parent

Relationship: Parent company
 During the year the company sold goods on normal commercial terms to its parent company to a value of £315,146 (2023- £338,019). Moreover, during the year, the exchanged certain goods, services and cash with its parent company which were recharges via intra-group account).
 

 

Gryphonn Quarries Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

Loans to related parties

2024

Parent
£

Total
£

At start of period

1,048,532

1,048,532

Advanced

590,547

590,547

At end of period

1,639,079

1,639,079

2023

Parent
£

Total
£

At start of period

1,376,365

1,376,365

Repaid

(327,833)

(327,833)

At end of period

1,048,532

1,048,532