Company registration number 01774735 (England and Wales)
GRIFFITHS & ARMOUR LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
GRIFFITHS & ARMOUR LIMITED
COMPANY INFORMATION
Directors
P Berg
M Donnelly
C J Edwards
C Evans
D J Haram
S J Keenan
C Roberts
(Appointed 1 April 2024)
P M Sapiro
K J Swainson
D J Whalley
T M Winstanley
J Wolstencroft
(Appointed 1 April 2024)
Secretary
D J Whalley
Company number
01774735
Registered office
12 Princes Parade
Princes Dock
Liverpool
L3 1BG
Auditor
Lonsdale & Marsh
509 - 510 Cotton Exchange
Bixteth Street
Liverpool
L3 9LQ
Business address
12 Princes Parade
Princes Dock
Liverpool
L3 1BG
Bankers
HSBC
60 Queen Victoria Street
London
EC4N 4TR
GRIFFITHS & ARMOUR LIMITED
CONTENTS
Page
Directors' report
1 - 2
Independent auditor's report
3 - 5
Statement of comprehensive income
6
Balance sheet
7
Statement of changes in equity
8
Notes to the financial statements
9 - 14
GRIFFITHS & ARMOUR LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -
The directors present their annual report and financial statements for the year ended 31 March 2025.
Principal activities
The company is a partner in "Griffiths & Armour" an insurance broking partnership. It has received a share of the profits of that business and this has been disclosed as its turnover for the year.
Results and dividends
The results for the year are set out on page 6.
Ordinary dividends were paid amounting to £8,000,000. The directors do not recommend payment of a final dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
P Berg
M Donnelly
C J Edwards
C Evans
R M H Griffiths (non-executive)
(Resigned 1 January 2025)
D J Haram
S J Keenan
C Roberts
(Appointed 1 April 2024)
P M Sapiro
J R M Simcox (non-executive)
(Resigned 1 January 2025)
K J Swainson
D J Whalley
T M Winstanley
J Wolstencroft
(Appointed 1 April 2024)
Other than going concern
As stated in note 15, the immediate parent company is Griffiths & Armour (Holdings) Limited. On 1 January 2025 the Griffiths & Armour group, including Griffiths & Armour (Holdings) Limited and all subsidiaries, was acquired by Aon UK Limited. It is anticipated that the operations, together with the assets and liabilities of Griffiths & Armour Limited, will eventually be transferred into the operations of Aon UK Limited. It is expected that this will take place in early 2026. Subsequent to the transfer Griffiths & Armour Limited will cease to trade. As a result the financial statements have been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the company's assets to net realisable value. At the year end the company's assets were tax refunds and amounts due from group companies and participating interests which are deemed fully recoverable and therefore no adjustment is required. Additionally, the financial statements do not include any provision for the future costs of terminating the business of the company except to the extent they were committed to at the balance sheet date.
Events after the balance sheet date
Apart from the expected transfer of operations to Aon UK Limited there are no other matters or circumstances which have arisen since 31 March 2025 which have significantly affected, or may affect the company's operations, the results of those operations or the company's state of affairs in future years.
Future developments
Information on likely future developments of the company are disclosed above.
GRIFFITHS & ARMOUR LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Auditor
In accordance with the company's articles, a resolution appointing the auditor of the company will be put at a General Meeting.
Energy and carbon report
As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
On behalf of the board
D J Whalley
Director
24 July 2025
GRIFFITHS & ARMOUR LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF GRIFFITHS & ARMOUR LIMITED
- 3 -
Opinion
We have audited the financial statements of Griffiths & Armour Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Emphasis of matter - financial statements prepared on a basis other than going concern
We draw your attention to note 1.3 to the financial statements which explains that the company's operations, assets and liabilities are expected to be transferred to Aon UK Limited in early 2026. Therefore the directors do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as disclosed in note 1.3. Our opinion is not modified in respect of this matter.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors' report has been prepared in accordance with applicable legal requirements.
GRIFFITHS & ARMOUR LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF GRIFFITHS & ARMOUR LIMITED (CONTINUED)
- 4 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to take advantage of the small companies exemption from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those which have a direct impact on the financial statements such as the Companies Act 2006.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, included the following:
the engagement partner ensured the audit team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
discussions with senior management;
identified laws and regulations were communicated within the audit team who remained alert to instances of non-compliance throughout the audit.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including override of controls) and addressed the risk through:
making enquiries of those charged with governance as to their knowledge of actual, suspected and alleged instances of fraud;
considering the internal controls in place to mitigate the risks of fraud.
GRIFFITHS & ARMOUR LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF GRIFFITHS & ARMOUR LIMITED (CONTINUED)
- 5 -
In response to the risk of irregularities and non-compliance with laws and regulations, we designed our audit procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation;
reviewing the minutes of meetings of those charged with governance;
reviewing for any transactions undertaken with related parties such as directors;
discussions with management about any known or suspected instances of non-compliance with laws and regulations;
testing of journals.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.
Elaine Frances McElroy (Senior Statutory Auditor)
For and on behalf of Lonsdale & Marsh, Statutory Auditor
Chartered Accountants
509 - 510 Cotton Exchange
Bixteth Street
Liverpool
L3 9LQ
24 July 2025
GRIFFITHS & ARMOUR LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
Year
Period
ended
ended
31 March
31 March
2025
2024
Notes
£
£
Turnover
3
2,184,764
4,367,769
Interest payable and similar expenses
7
(3,026)
Profit before taxation
2,184,764
4,364,743
Tax on profit
8
(399,539)
(1,026,118)
Profit for the financial year
1,785,225
3,338,625
Other comprehensive income
Actuarial gain on defined benefit pension schemes
491,000
Total comprehensive income for the year
1,785,225
3,829,625
GRIFFITHS & ARMOUR LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 7 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
10
10,037,799
16,263,691
Creditors: amounts falling due within one year
11
-
(11,117)
Net current assets
10,037,799
16,252,574
Capital and reserves
Called up share capital
12
1,260
1,260
Profit and loss reserves
10,036,539
16,251,314
Total equity
10,037,799
16,252,574
The financial statements were approved by the board of directors and authorised for issue on 24 July 2025 and are signed on its behalf by:
M Donnelly
D J Whalley
Director
Director
Company registration number 01774735 (England and Wales)
GRIFFITHS & ARMOUR LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 December 2022
1,260
15,221,689
15,222,949
Period ended 31 March 2024:
Profit
-
3,338,625
3,338,625
Other comprehensive income:
Actuarial gains on defined benefit plans
-
491,000
491,000
Total comprehensive income
-
3,829,625
3,829,625
Dividends
9
-
(2,800,000)
(2,800,000)
Balance at 31 March 2024
1,260
16,251,314
16,252,574
Year ended 31 March 2025:
Profit and total comprehensive income
-
1,785,225
1,785,225
Dividends
9
-
(8,000,000)
(8,000,000)
Balance at 31 March 2025
1,260
10,036,539
10,037,799
GRIFFITHS & ARMOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
1
Accounting policies
Company information
Griffiths & Armour Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12 Princes Parade, Princes Dock, Liverpool, L3 1BG.
1.1
Reporting period
These financial statements are for the year ended 31 March 2025. The previous financial statements were for the 16 month period to 31 March 2024. The change in the accounting reference date from 30 November 2023 was made to align the company's accounting reference date with that of its parent company and fellow subsidiary undertakings. As such, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
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.
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. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Griffiths & Armour (Holdings) Limited. These consolidated financial statements are available from Companies House.
1.3
Going concern
As stated in note 1true5, the immediate parent company is Griffiths & Armour (Holdings) Limited. On 1 January 2025 the Griffiths & Armour group, including Griffiths & Arrmour (Holdings) Limited and all subsidiaries, was acquired by Aon UK Limited. It is anticipated that the operations, together with the assets and liabilities of Griffiths & Armour Limited, will eventually be transferred into the operations of Aon UK Limited. It is expected that this will take place in early 2026. Subsequent to the transfer Griffiths & Armour Limited will cease to trade. As a result the financial statements have been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the company's assets to net realisable value. At the year end the company's assets were tax refunds and amounts due from group companies and participating interests which are deemed fully recoverable and therefore no adjustment is required. Additionally, the financial statements do not include any provision for the future costs of terminating the business of the company except to the extent they were committed to at the balance sheet date.
GRIFFITHS & ARMOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 10 -
1.4
Turnover
Turnover is defined as the share of profit from the company's equity participation in Griffiths & Armour, an insurance broking partnership.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
GRIFFITHS & ARMOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 11 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
If material, the cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
If relevant, termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
GRIFFITHS & ARMOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
3
Turnover
2025
2024
£
£
Turnover analysed by class of business
Share of partnership profit
2,184,764
4,367,769
4
Auditor's remuneration
No auditors remuneration was paid during the year.
5
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
14
12
6
Directors' remuneration
No remuneration was paid to the directors.
7
Interest payable and similar expenses
2025
2024
£
£
Other interest
3,026
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
399,539
1,026,118
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2025
2024
£
£
Profit before taxation
2,184,764
4,364,743
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
546,191
1,091,186
Tax effect of expenses that are not deductible in determining taxable profit
118,136
Effect of change in corporation tax rate
(65,068)
Group relief
(264,788)
Taxation charge for the year
399,539
1,026,118
GRIFFITHS & ARMOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
9
Dividends
2025
2024
£
£
Interim paid
8,000,000
2,800,000
10
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
117,296
Amounts owed by group undertakings
222,048
Amounts owed by undertakings in which the company has a participating interest
9,698,455
16,263,691
10,037,799
16,263,691
11
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings
1,834
Corporation tax
9,283
11,117
12
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,260
1,260
1,260
1,260
All shares are allotted, issued and fully paid. The company has one class of ordinary share.
The holder of the ordinary shares is entitled to full voting rights and to participate in dividends and the proceeds in the event of a winding up of the company.
13
Events after the reporting date
Apart from the expected transfer of operations to Aon UK Limited, as disclosed in the Directors' Report, there are no other matters or circumstances which have arisen since 31 March 2025 which have significantly affected, or may affect the company's operations, the results of those operations or the company's state of affairs in future years.
GRIFFITHS & ARMOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 14 -
14
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
The directors of the company, with the exception of R M H Griffiths (resigned 1 January 2025) and J R M Simcox (resigned 1 January 2025) were also partners in Griffiths & Armour until 1 January 2025. During the year the company received a profit share of £2,100,103 (2024: £4,367,769).
The following amounts were outstanding at the reporting end date:
2025
2024
Amounts due from related parties
£
£
Griffiths & Armour
9,613,794
16,263,691
Other information
In respect of group transactions the company has taken advantage of the exemption available in FRS 102 paragraph 33.1A whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
15
Ultimate controlling party
At the end of the reporting period the company's immediate parent undertaking was Griffiths & Armour (Holdings) Limited, a company incorporated in England and Wales.
The ultimate parent undertaking and controlling party as at 31 March 2025 was Aon plc a company incorporated and registered in the Republic of Ireland.
The following are the parents of the largest and smallest groups in which this company's results are consolidated:
Largest group
Aon plc
Smallest group
Griffiths & Armour (Holdings) Limited
Copies of the group financial statements for Griffiths & Armour (Holdings) Limited are available from Companies House, Crown Way, Cardiff, CF14 3UZ and from the company's registered office at 12 Princes Parade, Princes Dock, Liverpool, L3 1BG.
Copies of the group financial statements of Aon plc are available from the company's registered office at 15 George's Quay, Dublin 2, D02 VR98, Ireland.
16
Non-audit services provided by auditor
In common with many businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities, to assist with the preparation of the financial statements and to provide tax advice and to represent us, as necessary, at tax tribunals.
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