ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 10958150

GRIFFIN AUDIT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

GRIFFIN AUDIT LIMITED

REGISTERED NUMBER: 10958150

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Intangible assets	4		26,938		40,794
Tangible assets	5		371,394		325,374
			398,332		366,168
Current assets
Debtors: amounts falling due within one year	6	385,396		413,036
Cash at bank and in hand		123,186		31,092
		508,582		444,128
Creditors: amounts falling due within one year	7	(269,336)		(220,275)
Net current assets			239,246		223,853
Total assets less current liabilities			637,578		590,021
Creditors: amounts falling due after more than one year	8		(249,611)		(266,417)

Net assets			387,967		323,604

Capital and reserves
Called up share capital	100	100
Profit and loss account	387,867	323,504
	387,967	323,604

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GRIFFIN AUDIT LIMITED

REGISTERED NUMBER: 10958150

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2026

The directors consider 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 directors acknowledge their 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 14 September 2026.

Misty-Jane Gill

Director

The notes on pages 3 to 10 form part of these financial statements.

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GRIFFIN AUDIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Griffin Audit Limited is a private company, limited by shares, domiciled in England. The registered office is Courtenay House, Pynes Hill, Exeter, EX5 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

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

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

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GRIFFIN AUDIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

2.5

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.

2.6

Borrowing costs

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

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.8

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.

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GRIFFIN AUDIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.10

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.

Depreciation is provided on the following basis:

Short-term leasehold property	-	10 Years
Motor vehicles	-	15% Reducing Balance
Office equipment	-	7 Years
Computer equipment	-	4 Years

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.

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GRIFFIN AUDIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.11

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.

2.12

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.

2.13

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.

2.14

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 average monthly number of employees, including directors, during the year was 26 (2025 - 23).

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GRIFFIN AUDIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2025	125,960
	At 31 March 2026	125,960
	Amortisation
	At 1 April 2025	85,166
	Charge for the year	13,856
	At 31 March 2026	99,022
	Net book value
	At 31 March 2026	26,938
	At 31 March 2025	40,794

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GRIFFIN AUDIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

5.	Tangible fixed assets

	Short-term leasehold property	Motor vehicles	Office equipment	Computer equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2025	86,016	278,405	28,340	25,275	418,036
Additions	-	121,866	3,386	5,013	130,265
Disposals	-	(46,945)	(4,118)	(5,682)	(56,745)
At 31 March 2026	86,016	353,326	27,608	24,606	491,556
Depreciation
At 1 April 2025	9,827	47,308	18,386	17,141	92,662
Charge for the year on owned assets	8,602	-	2,686	4,091	15,379
Charge for the year on financed assets	-	44,562	-	-	44,562
Disposals	-	(22,746)	(4,118)	(5,577)	(32,441)
At 31 March 2026	18,429	69,124	16,954	15,655	120,162
Net book value
At 31 March 2026	67,587	284,202	10,654	8,951	371,394
At 31 March 2025	76,189	231,097	9,954	8,134	325,374

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2026	2025
	£	£


Motor vehicles	284,202	231,098
	284,202	231,098

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GRIFFIN AUDIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Debtors

					2026	2025
					£	£


Trade debtors	157,895	148,214
Amounts owed by group undertakings	164,525	222,475
Other debtors	35,683	24,026
Prepayments and accrued income	27,293	18,321
	385,396	413,036

7.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank loans	33,330	30,973
Trade creditors	12,634	14,165
Corporation tax	57,467	29,870
Other taxation and social security	78,548	86,938
Obligations under finance lease and hire purchase contracts	78,539	51,566
Other creditors	8,818	6,763
	269,336	220,275

8.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

Bank loans	81,104	114,435
Net obligations under finance leases and hire purchase contracts	168,507	151,982
	249,611	266,417

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GRIFFIN AUDIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Amounts falling due within one year
Bank loans	33,330	30,973
	33,330	30,973
Amounts falling due 1-2 years
Bank loans	35,905	33,330
	35,905	33,330
Amounts falling due 2-5 years
Bank loans	45,199	81,105
	45,199	81,105

	114,434	145,408

Within one year	78,539	51,566
Between 1-5 years	168,507	151,982
	247,046	203,548

11.	Pension commitments

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 £40,683 (2025 - £11,704). Contributions totalling £3,122 (2025 - £2,643) were payable to the fund at the balance sheet date and are included in creditors.

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