Acorah Software Products - Accounts Production 16.5.460 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 SC060109 Mr John Griffin Mr Patrick Griffin Mr Kevin Griffin Mr Kevin Griffin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC060109 2023-10-31 SC060109 2024-10-31 SC060109 2023-11-01 2024-10-31 SC060109 frs-core:CurrentFinancialInstruments 2024-10-31 SC060109 frs-core:Non-currentFinancialInstruments 2024-10-31 SC060109 frs-core:BetweenOneFiveYears 2024-10-31 SC060109 frs-core:ComputerEquipment 2024-10-31 SC060109 frs-core:ComputerEquipment 2023-11-01 2024-10-31 SC060109 frs-core:ComputerEquipment 2023-10-31 SC060109 frs-core:FurnitureFittings 2024-10-31 SC060109 frs-core:FurnitureFittings 2023-11-01 2024-10-31 SC060109 frs-core:FurnitureFittings 2023-10-31 SC060109 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 SC060109 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 SC060109 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 SC060109 frs-core:MotorVehicles 2024-10-31 SC060109 frs-core:MotorVehicles 2023-11-01 2024-10-31 SC060109 frs-core:MotorVehicles 2023-10-31 SC060109 frs-core:PlantMachinery 2024-10-31 SC060109 frs-core:PlantMachinery 2023-11-01 2024-10-31 SC060109 frs-core:PlantMachinery 2023-10-31 SC060109 frs-core:WithinOneYear 2024-10-31 SC060109 frs-core:RevaluationReserve 2023-11-01 2024-10-31 SC060109 frs-core:RevaluationReserve 2023-10-31 SC060109 frs-core:RevaluationReserve 2024-10-31 SC060109 frs-core:ShareCapital 2024-10-31 SC060109 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 SC060109 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC060109 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 SC060109 frs-bus:SmallEntities 2023-11-01 2024-10-31 SC060109 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 SC060109 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC060109 frs-bus:Director1 2023-11-01 2024-10-31 SC060109 frs-bus:Director2 2023-11-01 2024-10-31 SC060109 frs-bus:Director2 2023-10-31 SC060109 frs-bus:Director2 2024-10-31 SC060109 frs-bus:Director3 2023-11-01 2024-10-31 SC060109 frs-bus:Director3 2023-10-31 SC060109 frs-bus:Director3 2024-10-31 SC060109 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 SC060109 frs-core:CurrentFinancialInstruments 1 2024-10-31 SC060109 frs-core:CurrentFinancialInstruments 4 2024-10-31 SC060109 frs-countries:Scotland 2023-11-01 2024-10-31 SC060109 2022-10-31 SC060109 2023-10-31 SC060109 2022-11-01 2023-10-31 SC060109 frs-core:CurrentFinancialInstruments 2023-10-31 SC060109 frs-core:Non-currentFinancialInstruments 2023-10-31 SC060109 frs-core:BetweenOneFiveYears 2023-10-31 SC060109 frs-core:MotorVehicles 2022-11-01 2023-10-31 SC060109 frs-core:PlantMachinery 2022-11-01 2023-10-31 SC060109 frs-core:WithinOneYear 2023-10-31 SC060109 frs-core:RevaluationReserve 2023-10-31 SC060109 frs-core:ShareCapital 2023-10-31 SC060109 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 SC060109 frs-core:CurrentFinancialInstruments 1 2023-10-31 SC060109 frs-core:CurrentFinancialInstruments 4 2023-10-31
Registered number: SC060109
P.J.Griffin & Sons Limited
Financial Statements
For The Year Ended 31 October 2024
Stewart Accounting Services Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: SC060109
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 193,359 225,485
193,359 225,485
CURRENT ASSETS
Stocks 5 19,885 19,885
Debtors 6 47,766 88,380
Cash at bank and in hand 11,700 85,242
79,351 193,507
Creditors: Amounts Falling Due Within One Year 7 (293,668 ) (263,108 )
NET CURRENT ASSETS (LIABILITIES) (214,317 ) (69,601 )
TOTAL ASSETS LESS CURRENT LIABILITIES (20,958 ) 155,884
Creditors: Amounts Falling Due After More Than One Year 8 (27,721 ) (62,748 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,550 ) (21,847 )
NET (LIABILITIES)/ASSETS (65,229 ) 71,289
CAPITAL AND RESERVES
Called up share capital 11 14,329 14,329
Revaluation reserve 13 87,224 90,692
Profit and Loss Account (166,782 ) (33,732 )
SHAREHOLDERS' FUNDS (65,229) 71,289
Page 1
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Griffin
Director
31st October 2025
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
P.J.Griffin & Sons Limited is a private company, limited by shares, incorporated in Scotland, registered number SC060109 . The registered office is 10 East Murrayfield, Bannockburn, Stirling, Stirlingshire, FK7 8HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2.5% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 16)
13 16
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 November 2023 170,000 268,170 195,737 8,061
Additions - 625 13,000 -
Disposals - - (10,995 ) -
As at 31 October 2024 170,000 268,795 197,742 8,061
Depreciation
As at 1 November 2023 59,500 214,112 135,550 7,733
...CONTINUED
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Provided during the period 4,250 13,670 15,027 66
Disposals - - 2,084 -
As at 31 October 2024 63,750 227,782 152,661 7,799
Net Book Value
As at 31 October 2024 106,250 41,013 45,081 262
As at 1 November 2023 110,500 54,058 60,187 328
Computer Equipment Total
£ £
Cost
As at 1 November 2023 5,051 647,019
Additions 756 14,381
Disposals - (10,995 )
As at 31 October 2024 5,807 650,405
Depreciation
As at 1 November 2023 4,639 421,534
Provided during the period 415 33,428
Disposals - 2,084
As at 31 October 2024 5,054 457,046
Net Book Value
As at 31 October 2024 753 193,359
As at 1 November 2023 412 225,485
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 36,428 48,570
Motor Vehicles 42,292 56,469
78,720 105,039
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Cost or valuation as at 31 October 2024 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
At cost 31,265 268,795 197,742 8,061
At valuation 138,735 - - -
170,000 268,795 197,742 8,061
Computer Equipment Total
£ £
At cost 5,807 511,670
At valuation - 138,735
5,807 650,405
Freehold land and buildings were valued on an open market basis on 3rd November 2009 by Hardie Property Consultants.
If freehold land and buildings had not been revalued they would have been included at a cost of £31,265 (31/10/2022: £31,265) with aggregate depreciation of £29,531 (31/10/2022: £28,781).
5. Stocks
2024 2023
£ £
Stock 2,000 2,000
Work in progress 17,885 17,885
19,885 19,885
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,650 20,174
Prepayments and accrued income 393 -
Corporation tax recoverable assets 8,631 8,631
VAT 564 25,807
Directors' loan accounts 34,528 33,768
47,766 88,380
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,430 26,207
Trade creditors 57,279 68,117
Bank loans and overdrafts 110,133 72,834
Other taxes and social security 16,031 14,867
Other loans 72,945 62,945
Other creditors (4) 2,303 -
Directors' loan accounts 18,547 18,138
293,668 263,108
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 21,887 46,915
Bounce back loan 5,834 15,833
27,721 62,748
9. Secured Creditors
The bank overdraft is secured by a floating charge over the company's assets and standard securities over the
comapny's properties.
Hire purchase creditors are secured over the assets which they relate.
Of the creditors falling due within and after more than one year the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 38,317 34,118
Bank loans and overdrafts 115,967 97,895
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,430 26,207
Later than one year and not later than five years 21,887 46,915
38,317 73,122
38,317 73,122
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 14,329 14,329
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Patrick Griffin 16,821 378 - - 17,199
Mr Kevin Griffin 16,947 382 - - 17,329
The above loan is unsecured, interest free and repayable on demand.
13. Reserves
Revaluation Reserve
£
As at 1 November 2023 90,692
Transfer to profit and loss (3,468 )
As at 31 October 2024 87,224
14. Related Party Transactions
Siobhan Griffin
Family member
£42,877 (31/10/2023: £42,877) due to the related party at the balance sheet date.
Grainne Griffin
Family member
£30,068 (31/10/2023: £20,068) due to the related party at the balance sheet date.
John Griffin
Family member, director and shareholder
£18,138 (31/10/2023: £18,138) due to the related party at the balance sheet date.
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