ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 12144325

GRIFFIN ACCOUNTANTS HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

GRIFFIN ACCOUNTANTS HOLDINGS LIMITED

REGISTERED NUMBER: 12144325

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		804,291		804,291
Investments	5		318,325		318,325
			1,122,616		1,122,616
Current assets
Debtors: amounts falling due within one year	6	37,672		22,372
Cash at bank and in hand		630		85
		38,302		22,457
Creditors: amounts falling due within one year	7	(285,242)		(315,025)
Net current liabilities			(246,940)		(292,568)
Total assets less current liabilities			875,676		830,048
Creditors: amounts falling due after more than one year	8		(624,970)		(648,714)

Net assets			250,706		181,334

Capital and reserves
Called up share capital	100	100
Profit and loss account	250,606	181,234
	250,706	181,334

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 September 2025.

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GRIFFIN ACCOUNTANTS HOLDINGS LIMITED

REGISTERED NUMBER: 12144325

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

Misty-Jane Nickells

Director

The notes on pages 3 to 9 form part of these financial statements.

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GRIFFIN ACCOUNTANTS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Griffin Accountants Holdings Limited is a private company, limited by shares domiciled in England & Wales, registration number 12144325. The registered office is Courtenay House, Pynes Hill, xeter, EX2 5AZ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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GRIFFIN ACCOUNTANTS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Freehold property

Nil

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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GRIFFIN ACCOUNTANTS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	At 1 April 2024	804,291
	At 31 March 2025	804,291

	Net book value
	At 31 March 2025	804,291
	At 31 March 2024	804,291

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GRIFFIN ACCOUNTANTS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2024	318,325
	At 31 March 2025	318,325

Debtors

					2025	2024
					£	£


Trade debtors	6,400	6,400
Other debtors	31,272	15,972
	37,672	22,372

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GRIFFIN ACCOUNTANTS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	57,546	85,284
Amounts owed to group undertakings	222,475	225,475
Corporation tax	955	-
Other taxation and social security	4,266	4,266
	285,242	315,025

The following liabilities were secured:
	2025	2024
	£	£


Bank loans	57,546	85,284
	57,546	85,284

Details of security provided:

Bank loans provided by Lloyds Bank Plc are secured by way of legal mortgage over the property Courtenay House, as well as a fixed and floating cahrge over the assets of the company.

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GRIFFIN ACCOUNTANTS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	624,970	648,714
	624,970	648,714

The following liabilities were secured:
	2025	2024
	£	£


Bank loans	624,970	648,714
	624,970	648,714

Details of security provided:

Bank loans provided by Lloyds Bank Plc are secured by way of legal mortgage over the property Courtenay House, as well as a fixed and floating cahrge over the assets of the company.

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GRIFFIN ACCOUNTANTS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Amounts falling due within one year
Bank loans	57,546	85,284
	57,546	85,284
Amounts falling due 1-2 years
Bank loans	60,767	86,317
	60,767	86,317
Amounts falling due 2-5 years
Bank loans	135,370	239,785
	135,370	239,785
Amounts falling due after more than 5 years
Bank loans	428,833	322,612
	428,833	322,612
	682,516	733,998

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