The director presents his annual report and financial statements for the year ended 31 January 2025.

The principal activity of the company continued to be the manufacture and sale of petrol pump accessories.

The director who held office during the year and up to the date of signature of the financial statements was as follows:

After a run of profitable growth years, the 2024-2025 financial year was significantly impacted by the ongoing global economic turmoil.

However, the projections for subsequent financial years continues to show growth in new custom in both the domestic and the growing international markets served by this subsidiary.

This is in part due to the increasing requirement for the fuel retail sector, globally, to demonstrate compliance to 'overlooked' employee and consumer safety laws and maintain valid insurance cover.  The significance of compliance has grown throughout 2025, which has seen the chemical petrol re-assessed for the first time in 40 years by the International Agency for Research on Cancer (IARC) and now reclassified as a Group-1 human carcinogen (which is now in the same carcinogenic group as tobacco and asbestos). 

High-profile fuel-exposure/cancer lawsuits have also continued to affect the fuel retail sector globally, with some of the world's largest insurers now denying cover and support for cancer claims to some of the world's largest fuel companies, simply due to overlooked health hazard labelling and PPE.

Enforcement authorities for these regulations around the world have also confirmed the requirement for compliance, which is enabled by the unique, point-of-contact hazard-labelling and PPE that GripHero produces. GripHero Limited growth is also projected in part to the unique quality, safety and environmental benefits of the PPE that GripHero produces, as well as the very low cost of compliance when compared to other legal alternatives.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his 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.

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

Griphero Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1-2, Hatchmoor Industrial Estate, Hatherleigh, Okehampton, Devon, EX20 3LP.

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 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.

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

After a run of profitable growth years, the 2024-2025 financial year was significantly impacted by the ongoing global economic turmoil.

However, the projections for subsequent financial years continues to show growth in new custom in both the domestic and the growing international markets served by this subsidiary.

This is in part due to the increasing requirement for the fuel retail sector, globally, to demonstrate compliance to 'overlooked' employee and consumer safety laws and maintain valid insurance cover.  The significance of compliance has grown throughout 2025, which has seen the chemical petrol re-assessed for the first time in 40 years by the International Agency for Research on Cancer (IARC) and now reclassified as a Group-1 human carcinogen (which is now in the same carcinogenic group as tobacco and asbestos). 

High-profile fuel-exposure/cancer lawsuits have also continued to affect the fuel retail sector globally, with some of the world's largest insurers now denying cover and support for cancer claims to some of the world's largest fuel companies, simply due to overlooked health hazard labelling and PPE.

Enforcement authorities for these regulations around the world have also confirmed the requirement for compliance, which is enabled by the unique, point-of-contact hazard-labelling and PPE that GripHero produces. GripHero Limited growth is also projected in part to the unique quality, safety and environmental benefits of the PPE that GripHero produces, as well as the very low cost of compliance when compared to other legal alternatives.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

The average monthly number of persons (including directors) employed by the company during the year was:

Included in bank loans is a balance of £43,313 (2024: £41,393) representing the current portion of a loan which is secured by fixed and floating charges on the assets of the company.

The company has entered into an invoice discounting agreement which is secured by fixed and floating charges on the assets of the company.

Included in bank loans is a balance of £49,180 (2024: £96,594) representing the non-current portion of a loan which is secured by fixed and floating charges on the assets of the company.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The following amounts were outstanding at the reporting end date:

Loans from connected individuals

At the year end, the company had a total loan balance of £675,000 outstanding from connected individuals. Amounts outstanding are unsecured and repayable on demand. Total interest of £NIL (2024: £23,307) was paid on these loans during the financial year, however the total balance of £675,000 is now interest-free.