Company No: 08006555 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	1,368		1,824
		1,368		1,824
Current assets
Debtors	4	490,056		617,822
Cash at bank and in hand		74,040		25,010
		564,096		642,832
Creditors: amounts falling due within one year	5	( 231,203)		( 398,159)
Net current assets		332,893		244,673
Total assets less current liabilities		334,261		246,497
Net assets		334,261		246,497
Capital and reserves
Called-up share capital		1		1
Profit and loss account		334,260		246,496
Total shareholder's funds		334,261		246,497

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Gryphon International Ltd (registered number: 08006555) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

J Dippolito Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gryphon International Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Stockport Exchange, Stockport, SK1 3GG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company is supported through its fellow group companies. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

A deferred tax asset of £66,015 was previously presented within provision for liabilities in the prior year. This has been reclassified to debtors in the current year to reflect its correct presentation. There is no impact on net assets or profit.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of consultancy services.
Turnover is shown net of value added tax, 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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	12		9

The directors did not receive any remuneration during the year (2023: £nil)

3. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 January 2024	6,992		6,992
At 31 December 2024	6,992		6,992
Accumulated depreciation
At 01 January 2024	5,168		5,168
Charge for the financial year	456		456
At 31 December 2024	5,624		5,624
Net book value
At 31 December 2024	1,368		1,368
At 31 December 2023	1,824		1,824

4. Debtors

	2024		2023
	£		£
Trade debtors	95,030		186,511
Amounts owed by Group undertakings	344,289		344,289
Accrued income	16,381		16,381
Deferred tax asset	31,366		66,015
Other debtors	2,990		4,626
	490,056		617,822

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	19,870		30,503
Amounts owed to Group undertakings	155,012		182,150
Amounts owed to fellow subsidiaries	0		100,438
Accruals	28,944		14,424
Taxation and social security	26,964		69,603
Other creditors	413		1,041
	231,203		398,159

6. Financial commitments

Commitments

	2024		2023
	£		£
Total future minimum lease payments under non-cancellable operating lease	2,148		2,990

Pensions

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £27,106 (2023: £17,238). Contributions totalling £2,050 (2023: £1,041) were payable to the fund at the balance sheet date and are included in other creditors.

7. Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

8. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2024 was unqualified.

The audit report was signed by Christopher Langrick on behalf of Langricks (Holmfirth) Limited.

9. Ultimate controlling party

The parent company is Gryphon Strategies (UK) Ltd, a company registered in England and Wales, company number 1320293.

The ultimate parent company is Gryphon Strategies, LLC, a company registered in the United States of America.

The overall controlling party is Mr J Dawdy by virtue of his interest in the ultimate parent company.