Griffins Business Consultants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08979828 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2016 TO 31 OCTOBER 2017

FOR

GRIFFINS BUSINESS CONSULTANTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N R Buckingham

C P Duggan

K H Weeks

REGISTERED OFFICE:

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

REGISTERED NUMBER:

08979828 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy

Accountants

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

FIXED ASSETS

Intangible assets

4

-

1,675,873

Tangible assets

5

-

76,051

-

1,751,924

CURRENT ASSETS

Stocks

-

500

Debtors

6

12,620

1,031,432

Cash at bank and in hand

369,916

954,148

382,536

1,986,080

CREDITORS

Amounts falling due within one year

7

132,255

2,801,401

NET CURRENT ASSETS/(LIABILITIES)

250,281

(815,321

)

TOTAL ASSETS LESS CURRENT LIABILITIES

250,281

936,603

CAPITAL AND RESERVES

Called up share capital

8

10,000

10,000

Retained earnings

240,281

926,603

SHAREHOLDERS' FUNDS

250,281

936,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 18 October 2018 and were signed on its behalf by:

C P Duggan - Director

1.	STATUTORY INFORMATION

Griffins Business Consultants Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the

nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that

affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues

and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those

estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts

recognised in the financial statements.

Revenue recognition

The key judgements made by management in respect of revenue is the point at which that revenue should be recognised.

Management consider the underlying contract terms and conclude upon the most appropriate point of the cycle at which

to recognise revenue based upon the these terms and in particular where the risks and rewards of ownership transfer.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The

actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual

value assessment consider issues such as the remaining life of the asset and the projected disposal value.

Intangible Fixed Assets

Intangibles are capitalised in accordance with accounting standards and the Company's accounting policy. Management

estimate the useful life of intangible assets based on factors such as the expected use in the business.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover relates to the sales within the UK market. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised as the

service is performed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

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

-

33% on reducing balance and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation

Taxation for the period 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating lease commitments

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

Rentals paid under operating leases are charged to the profit and 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.

Rents recieved

Rents received are recognised in the period they relate to.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction

price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the report date as a result of a past

event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be

reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Impairments

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet

date. If such indication exists, the recoverable amount of the asset, or asset's cash generating unit, is estimated and

compared to its carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is

recognised in the profit and loss, unless it's carried at a revalued amount, where the impairment loss is a revaluation

decrease.

Short-term employees benefits

Short-term employees' benefits are recognised as an expense in the period in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 42 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2016

2,073,250

Disposals

(2,073,250

)

At 31 October 2017

-

AMORTISATION

At 1 May 2016

397,377

Charge for period

138,217

Eliminated on disposal

(535,594

)

At 31 October 2017

-

NET BOOK VALUE

At 31 October 2017

-

At 30 April 2016

1,675,873

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

150,253

Disposals

(150,253

)

At 31 October 2017

-

DEPRECIATION

At 1 May 2016

74,202

Charge for period

16,804

Eliminated on disposal

(91,006

)

At 31 October 2017

-

NET BOOK VALUE

At 31 October 2017

-

At 30 April 2016

76,051

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

12,460

524,144

Amounts recoverable on contract

-

371,752

Other debtors

160

135,536

12,620

1,031,432

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

41,573

Taxation and social security

698

322,909

Other creditors

131,557

2,436,919

132,255

2,801,401

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

39,360

A Ordinary

10p

3,936

3,936

39,360

B Ordinary

10p

3,936

3,936

21,280

C Ordinary

10p

2,128

2,128

10,000

10,000

9.	FIRST YEAR ADOPTION

This is the first period that the Company has presented its financial statements under Financial Reporting Standards 102

Section 1A (FRS 102) issued by Financial Reporting Council. The last financial statements prepared under the previous UK

GAAP were for the year ended 30 April 2016 and the date of transition is therefore 01 May 2015. As a consequence of

adopting FRS 102 the directors are of the opinion that no changes need to be made upon transition to this accounting

standard as the effect of any changes are not material.