Griffin And General Fire Services Limited - Period Ending 2016-12-31
Griffin And General Fire Services Limited - Period Ending 2016-12-31
Registration number:
Griffin And General Fire Services Limited
for the Year Ended 31 December 2016
Chartered Accountants
Lawford House
Albert Place Finchley
London
N3 1QA
Griffin And General Fire Services Limited
Contents
Company Information |
|
Statement of Comprehensive Income |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
Griffin And General Fire Services Limited
Company Information
Directors |
Mr Stuart Peter Latham Mr Alan Grant |
Registered office |
|
Accountants |
|
Page 1 |
Griffin And General Fire Services Limited
Statement of Comprehensive Income for the Year Ended 31 December 2016
Note |
2016 |
2015 |
|
Profit for the year |
|
|
|
Total comprehensive income for the year |
|
|
Page 2 |
Griffin And General Fire Services Limited
(Registration number: 01475478)
Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr Stuart Peter Latham
Director
Page 3 |
Griffin And General Fire Services Limited
Statement of Changes in Equity for the Year Ended 31 December 2016
Share capital |
Profit and loss account |
Total |
|
At 1 January 2016 |
|
|
|
Profit for the year |
- |
|
|
Total comprehensive income |
- |
|
|
Dividends |
- |
( |
( |
At 31 December 2016 |
|
|
|
Share capital |
Profit and loss account |
Total |
|
At 1 January 2015 |
|
|
|
Profit for the year |
- |
|
|
Total comprehensive income |
- |
|
|
Dividends |
- |
( |
( |
At 31 December 2015 |
|
|
|
Page 4 |
Griffin And General Fire Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
The Griffin Centre
Birkbeck Street
London
E2 6JY
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Pounds Sterling, which is also the functional currency of the Company. Rounding of amounts shown in the financial statements is to the nearest Pound.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold |
10% reducing balance |
Plant and machinery |
10% reducing balance |
Fixtures, fittings and equipment |
10% reducing balance |
Motor vehicles |
25% reducing balance |
Page 5 |
Griffin And General Fire Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 6 |
Griffin And General Fire Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
||
Cost or valuation |
|||||
At 1 January 2016 |
|
|
|
|
|
Additions |
- |
- |
|
- |
|
Disposals |
- |
- |
( |
- |
|
At 31 December 2016 |
|
|
|
|
|
Depreciation |
|||||
At 1 January 2016 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
- |
|
At 31 December 2016 |
|
|
|
|
|
Carrying amount |
|||||
At 31 December 2016 |
|
|
|
|
|
At 31 December 2015 |
|
|
|
|
Page 7 |
Griffin And General Fire Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Total |
|||||
Cost or valuation |
|||||
At 1 January 2016 |
|
||||
Additions |
|
||||
Disposals |
( |
||||
At 31 December 2016 |
|
||||
Depreciation |
|||||
At 1 January 2016 |
|
||||
Charge for the year |
|
||||
Eliminated on disposal |
( |
||||
At 31 December 2016 |
|
||||
Carrying amount |
|||||
At 31 December 2016 |
|
||||
At 31 December 2015 |
|
Included within the net book value of land and buildings above is £9,244 (2015 - £10,271) in respect of short leasehold land and buildings.
Stocks |
2016 |
2015 |
|
Other inventories |
|
|
Debtors |
2016 |
2015 |
|
Trade debtors |
|
|
Other debtors |
|
|
Total current trade and other debtors |
|
|
Creditors |
Page 8 |
Griffin And General Fire Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Note |
2016 |
2015 |
|
Due within one year |
|||
Trade creditors |
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
- |
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
Dividends |
Final dividends paid
2016 |
2015 |
|
Final dividend of £ |
|
|
Final dividend of £ |
|
|
|
|
Transition to FRS 102 |
Balance Sheet at 1 January 2015
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Fixed assets |
|||||
Tangible assets |
39,230 |
- |
- |
39,230 |
|
Current assets |
|||||
Stocks |
30,000 |
- |
- |
30,000 |
|
Debtors |
207,581 |
- |
- |
207,581 |
|
Cash at bank and in hand |
87,356 |
- |
- |
87,356 |
|
324,937 |
- |
- |
324,937 |
||
Creditors: Amounts falling due within one year |
(203,274) |
- |
- |
(203,274) |
|
Net current assets |
121,663 |
- |
- |
121,663 |
|
Total assets less current liabilities |
160,893 |
- |
- |
160,893 |
|
Provisions for liabilities |
(6,708) |
- |
- |
(6,708) |
|
Net assets |
154,185 |
- |
- |
154,185 |
Page 9 |
Griffin And General Fire Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Capital and reserves |
|||||
Called up share capital |
33,865 |
- |
- |
33,865 |
|
Profit and loss account |
120,320 |
- |
- |
120,320 |
|
Total equity |
154,185 |
- |
- |
154,185 |
Page 10 |
Griffin And General Fire Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Balance Sheet at 31 December 2015
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Fixed assets |
|||||
Tangible assets |
35,012 |
- |
- |
35,012 |
|
Current assets |
|||||
Stocks |
44,307 |
- |
- |
44,307 |
|
Debtors |
271,553 |
- |
- |
271,553 |
|
Cash at bank and in hand |
113,670 |
- |
- |
113,670 |
|
429,530 |
- |
- |
429,530 |
||
Creditors: Amounts falling due within one year |
(241,801) |
- |
- |
(241,801) |
|
Net current assets |
187,729 |
- |
- |
187,729 |
|
Net assets |
222,741 |
- |
- |
222,741 |
|
Capital and reserves |
|||||
Called up share capital |
33,865 |
- |
- |
33,865 |
|
Profit and loss account |
188,876 |
- |
- |
188,876 |
|
Total equity |
222,741 |
- |
- |
222,741 |
Page 11 |
Griffin And General Fire Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Profit and Loss Account for the year ended 31 December 2015
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Turnover |
1,174,850 |
- |
- |
1,174,850 |
|
Cost of sales |
(629,229) |
- |
- |
(629,229) |
|
Gross profit |
545,621 |
- |
- |
545,621 |
|
Administrative expenses |
(446,987) |
- |
- |
(446,987) |
|
Operating profit |
98,634 |
- |
- |
98,634 |
|
Other interest receivable and similar income |
2,095 |
- |
- |
2,095 |
|
2,095 |
- |
- |
2,095 |
||
Profit before tax |
100,729 |
- |
- |
100,729 |
|
Taxation |
(14,653) |
- |
- |
(14,653) |
|
Profit for the financial year |
86,076 |
- |
- |
86,076 |
Page 12 |