Company registration number 13814828 (England and Wales)
GRIFFITHS REAL ESTATE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
GRIFFITHS REAL ESTATE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
GRIFFITHS REAL ESTATE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
FIXED ASSETS
Investment property
2
130,000
130,000
CURRENT ASSETS
Cash at bank and in hand
288
4,148
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3
(3,094)
(1,534)
NET CURRENT (LIABILITIES)/ASSETS
(2,806)
2,614
TOTAL ASSETS LESS CURRENT LIABILITIES
127,194
132,614
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
4
(141,706)
(141,406)
NET LIABILITIES
(14,512)
(8,792)
CAPITAL AND RESERVES
Called up share capital
100
100
Non-distributable profits reserve
5
48,209
39,049
Distributable profit and loss reserves
(62,821)
(47,941)
TOTAL EQUITY
(14,512)
(8,792)

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.

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

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.

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

GRIFFITHS REAL ESTATE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

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

The financial statements were approved by the board of directors and authorised for issue on 2 September 2025 and are signed on its behalf by:
Mr R Griffiths
Director
Company registration number 13814828 (England and Wales)
GRIFFITHS REAL ESTATE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Share capital
Non-distri-butable profits
Profit and loss reserves
Total
£
£
£
£
BALANCE AT 1 JANUARY 2023
100
39,049
(32,051)
7,098
YEAR ENDED 31 DECEMBER 2023:
Loss and total comprehensive income
-
-
(15,890)
(15,890)
BALANCE AT 31 DECEMBER 2023
100
39,049
(47,941)
(8,792)
YEAR ENDED 31 DECEMBER 2024:
Loss and total comprehensive income
-
9,160
(14,880)
(5,720)
BALANCE AT 31 DECEMBER 2024
100
48,209
(62,821)
(14,512)
GRIFFITHS REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
ACCOUNTING POLICIES
Company information

Griffiths Real Estate Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cedar House, Hazell Drive, Newport, NP10 8FY.

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 a mounts 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 investment. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts show that the company had net liabilities of £14,512 at the balance sheet date. The directors have therefore had to consider the appropriateness of the going concern basis.

The company has been able to finance its operations largely because of support from the directors and other creditors. Were this support not available, the company may not be able to continue trading.

The directors are confident that the company will be able to meet its obligations for at least the next twelve months with the continuing support of th ese creditor s. They therefore consider it appropriate to prepare the accounts on the going concern basis.

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The company recognises revenue from the following major sources:

- Rental income

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

GRIFFITHS REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 5 -
Rental income

Rental income is recognised on a straight line basis over the period to which it relates.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

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.

2
INVESTMENT PROPERTY
2024
£
Fair value
At 1 January 2024 and 31 December 2024
130,000

The investment property has been valued at the year end by a director.

3
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Other creditors
3,094
1,534
4
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
£
£
Bank loans and overdrafts
99,206
99,206
Other creditors
42,500
42,200
141,706
141,406

Bank loans totalling £99,206 (2023 - £99,206) are secured via a charge over the company's Investment Property.

GRIFFITHS REAL ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
5
NON-DISTRIBUTABLE PROFITS RESERVE
2024
2023
£
£
At the beginning of the year
39,049
39,049
Non distributable profits in the year
9,160
-
At the end of the year
48,209
39,049
6
RELATED PARTY TRANSACTIONS
2024
2023
Amounts due to related parties
£
£
Key management personnel
42,500
42,200
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