Griffiths and Johnson Limited - Period Ending 2015-11-30

Registration number: 00642590

Griffiths and Johnson Limited
 
  Unaudited Abbreviated Accounts
 
  for the Year Ended 30 November 2015
 

Wilds Ltd
Chartered Accountants
Lancaster House
70-76 Blackburn Street
Radcliffe
Manchester
M26 2JW

Griffiths and Johnson Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Griffiths and Johnson Limited
(Registration number: 00642590)
Abbreviated Balance Sheet at 30 November 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			212,408			67,321
Current assets
Stocks					10,865			15,364
Debtors					225,406			213,652
Cash at bank and in hand					536			198
					236,807			229,214
Creditors: Amounts falling due within one year		3			(145,038)			(124,731)
Net current assets					91,769			104,483
Total assets less current liabilities					304,177			171,804
Creditors: Amounts falling due after more than one year		3			(125,066)			(11,388)
Provisions for liabilities					(23,000)			(10,000)
Net assets					156,111			150,416
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					155,111			149,416
Shareholders' funds					156,111			150,416

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Griffiths and Johnson Limited
(Registration number: 00642590)
Abbreviated Balance Sheet at 30 November 2015
......... continued

For the year ending 30 November 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board on 17 March 2016 and signed on its behalf by:

......................................... Mr J A K Matterson Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Griffiths and Johnson Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The directors consider that the use of the going concern basis of accounting is appropriate because there are no material uncertainties relating to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover

The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year, exclusive of Value Added Tax.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	12.5% reducing balance
Fixtures and fittings	15% straight line
Motor vehicles	25% straight line

Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Costs include any expenditure incurred in bringing the stock to its present location and condition.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Griffiths and Johnson Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2014		443,798			443,798
Additions		161,811			161,811
At 30 November 2015		605,609			605,609
Depreciation
At 1 December 2014		376,477			376,477
Charge for the year		16,724			16,724
At 30 November 2015		393,201			393,201
Net book value
At 30 November 2015		212,408			212,408
At 30 November 2014		67,321			67,321

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		39,375			21,799
Amounts falling due after more than one year		125,066			11,388
Total secured creditors		164,441			33,187

Page 4

Griffiths and Johnson Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

5	Ultimate controlling company

The ultimate parent undertaking is G & J Investments Limited, a company incorporated in England.

Page 5