REGISTERED NUMBER: 10423216 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

G H Griffith a'i Gwmni Cyf

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

Mr D W Griffith

Mrs Ll Griffith

Mr I Griffith

REGISTERED OFFICE:

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

REGISTERED NUMBER:

10423216 (England and Wales)

ACCOUNTANTS:

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

FIXED ASSETS

Intangible assets

4

2,154

2,154

Tangible assets

5

1,073,488

733,935

1,075,642

736,089

CURRENT ASSETS

Stocks

568,377

557,474

Debtors

6

128,793

68,999

Investments

7

134,696

126,397

Cash at bank

760

148,733

832,626

901,603

CREDITORS

Amounts falling due within one year

8

815,079

705,836

NET CURRENT ASSETS

17,547

195,767

TOTAL ASSETS LESS CURRENT LIABILITIES

1,093,189

931,856

CREDITORS

Amounts falling due after more than one year

9

(414,343

)

(417,974

)

PROVISIONS FOR LIABILITIES

(260,112

)

(139,448

)

NET ASSETS

418,734

374,434

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

418,634

374,334

SHAREHOLDERS' FUNDS

418,734

374,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2026 and were signed on its behalf by:

Mr D W Griffith - Director

Mrs Ll Griffith - Director

1.	STATUTORY INFORMATION

G H Griffith a'i Gwmni Cyf is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements are being amortised evenly over their estimated useful life of nil years.

The entitlements relate to the basic payment scheme held in relation to land farmed by the company. As such, these are not amortised and instead, impairment reviews will be carried out when deemed required.

Tangible fixed assets

Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment.Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Slurry pit and shed - 10% reducing balance

Plant and machinery - 10% reducing balance

Fixtures and fittings - 20% reducing balance

Milking parlour - 5% reducing balance

Milking parlour equipment - 10% reducing balance

Computer equipment - 20% reducing balance

Stocks

Biological assets, the beef herd, are valued at fair value through the profit & loss. This includes making due allowance for home bred livestock, the current market and current demand.

The current value is £385,957 (2024 - £342,919)

Fuel, oil and other business related deadlock are valued at the lower of cost and net realisable value, after making allowance for obsolete, impaired or slow moving items within the other stock on hand.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

2,154

NET BOOK VALUE

At 31 December 2025

2,154

At 31 December 2024

2,154

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2025

141,825

876,805

1,018,630

Additions

321,147

193,818

514,965

Disposals

-

(120,575

)

(120,575

)

At 31 December 2025

462,972

950,048

1,413,020

DEPRECIATION

At 1 January 2025

14,060

270,635

284,695

Charge for year

42,278

65,336

107,614

Eliminated on disposal

-

(52,777

)

(52,777

)

At 31 December 2025

56,338

283,194

339,532

NET BOOK VALUE

At 31 December 2025

406,634

666,854

1,073,488

At 31 December 2024

127,765

606,170

733,935

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

66,861

24,284

Other debtors

61,932

44,715

128,793

68,999

7.	CURRENT ASSET INVESTMENTS

31.12.25

31.12.24

£

£

South Caernarfon Creameries

134,696

126,397

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

55,445

15,107

Hire purchase contracts

42,476

20,310

Trade creditors

33,233

63,822

Taxation and social security

31,596

9,659

Other creditors

652,329

596,938

815,079

705,836

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Hire purchase contracts

71,323

49,083

Other creditors

343,020

368,891

414,343

417,974

10.	RELATED PARTY DISCLOSURES

During the year the directors accumulated funds in a directors loan accounts. At the year-end the combined total of this directors loan account stood at £639,304 (2024 - £594,872) owing to the directors.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G H Griffith a'i Gwmni Cyf for the year ended 31 December 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of G H Griffith a'i Gwmni Cyf, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G H Griffith a'i Gwmni Cyf and state those matters that we have agreed to state to the Board of Directors of G H Griffith a'i Gwmni Cyf, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G H Griffith a'i Gwmni Cyf and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G H Griffith a'i Gwmni Cyf has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G H Griffith a'i Gwmni Cyf. You consider that G H Griffith a'i Gwmni Cyf is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G H Griffith a'i Gwmni Cyf. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

Date: .............................................