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Registered number: 04048162
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 MARCH 2026
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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
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COMPANY INFORMATION
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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
REGISTERED NUMBER:04048162
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
REGISTERED NUMBER:04048162
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2026
The director considers 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 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.
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 by:
The notes on pages 3 to 7 form part of these financial statements.
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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Griffiths and the Schoolgirl by Valentino Limited is a private company, limited by shares and incorporated in England & Wales. The address of the principal place of business and the registered office are given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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:
The turnover shown in the Statement of Income and Retained Earnings represents amounts receivable for goods and services provided during the year in the normal course of business from a clothing retail outlet and coffee shop, net of trade discounts, VAT and other sales and related taxes.
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.
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 Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
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 reporting date in the countries where the company operates and generates income.
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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line & reducing balance methods.
Depreciation is provided on the following basis:
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.
The leasehold improvements relate to the building of a coffee shop. The director does not believe these costs should be depreciated as the improvements have increased the overall value of the property and he does not believe the residual value will fall below cost. The fit out costs of the property have been included in plant and machinery.
Stocks are stated at the lower of cost and net realisable value.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
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.
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The average monthly number of employees, including directors, during the year was 11 (2025 - 13).
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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Charge for the year on owned assets
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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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The bank loans included within creditors falling due within one year are secured by way of government guarantee under the Bounce Back Loan Scheme.
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Creditors: Amounts falling due after more than one year
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The bank loans included within creditors falling due after more than one year are secured by way of government guarantee under the Bounce Back Loan Scheme.
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GRIFFITHS AND THE SCHOOLGIRL BY VALENTINO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Related party transactions
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Included within other creditors are the following advances and credits to the director which subsisted during the years ended 31 March 2026 and 31 March 2025.
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Balance outstanding at start of year
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Interest is not being charged on this loan. The loan is repayable on demand.
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