Griffin Media Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04447533 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

FOR

GRIFFIN MEDIA SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G P E Walton

J Kenway

Ms S A Y Smart

Ms I Burren

SECRETARY:

Mrs I K Walton

REGISTERED OFFICE:

3 Calverley Street

Tunbridge Wells

Kent

TN1 2BZ

REGISTERED NUMBER:

04447533 (England and Wales)

SENIOR STATUTORY AUDITOR:

R J Lovitt

AUDITORS:

Greenaway Chartered Accountants

and Statutory Auditors

150 High Street

Sevenoaks

Kent

TN13 1XE

FIXED ASSETS

Tangible assets

4

9,060

11,664

CURRENT ASSETS

Debtors

5

4,466,657

4,494,930

Cash at bank and in hand

548,056

366,388

5,014,713

4,861,318

CREDITORS

Amounts falling due within one year

6

3,220,645

3,214,009

NET CURRENT ASSETS

1,794,068

1,647,309

TOTAL ASSETS LESS CURRENT LIABILITIES

1,803,128

1,658,973

CREDITORS

Amounts falling due after more than one year

7

-

(117,907

)

PROVISIONS FOR LIABILITIES

(1,722

)

(2,217

)

NET ASSETS

1,801,406

1,538,849

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Share premium

5,000

5,000

Retained earnings

1,786,406

1,523,849

SHAREHOLDERS' FUNDS

1,801,406

1,538,849

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 25 March 2022 and were signed on its behalf by:

G P E Walton - Director

1.	STATUTORY INFORMATION

Griffin Media Solutions Ltd 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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.

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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Functional currency and presentation currency

The results and financial position of the individual financial statements are presented in Sterling (£).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

and 30 June 2021

22,767

DEPRECIATION

At 1 July 2020

11,103

Charge for year

2,604

At 30 June 2021

13,707

NET BOOK VALUE

At 30 June 2021

9,060

At 30 June 2020

11,664

5.

DEBTORS

30/6/21

30/6/20

£

£

Amounts falling due within one year:

Trade debtors

2,873,682

2,913,252

Other debtors

592,975

581,678

3,466,657

3,494,930

Amounts falling due after more than one year:

Trade debtors

1,000,000

1,000,000

Aggregate amounts

4,466,657

4,494,930

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/21

30/6/20

£

£

Bank loans and overdrafts

200,871

88,393

Trade creditors

2,473,697

2,272,006

Taxation and social security

343,963

456,092

Other creditors

202,114

397,518

3,220,645

3,214,009

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/6/21

30/6/20

£

£

Bank loans

-

117,907

8.	SECURED DEBTS

The Company has a fixed and floating charge dated 18 April 2019 in favour of Santander UK Plc over all assets of the company

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

R J Lovitt (Senior Statutory Auditor)

for and on behalf of Greenaway Chartered Accountants

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2021 and 30 June 2020:

30/6/21

30/6/20

£

£

G P E Walton

Balance outstanding at start of year

55,005

-

Amounts advanced

147,225

211,418

Amounts repaid

(202,230

)

(156,413

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

55,005

The directors loan is a joint account between the Director and his wife, who between them own the B and C Ordinary shares.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is G P E Walton.