Grovesbrook Homes Limited Filleted accounts for Companies House (small and micro)

GROVESBROOK HOMES LTD - Company Information

0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 64,655 7,342 71,997 7,556 6,923 14,479 57,099 xbrli:pure xbrli:shares iso4217:GBP 08735209 2022-04-01 2023-03-31 08735209 2023-03-31 08735209 2022-03-31 08735209 2021-04-01 2022-03-31 08735209 2022-03-31 08735209 2021-03-31 08735209 core:PlantMachinery 2022-04-01 2023-03-31 08735209 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08735209 bus:Director1 2022-04-01 2023-03-31 08735209 core:WithinOneYear 2023-03-31 08735209 core:WithinOneYear 2022-03-31 08735209 core:PlantMachinery 2022-03-31 08735209 core:UKTax 2022-04-01 2023-03-31 08735209 core:UKTax 2021-04-01 2022-03-31 08735209 core:ShareCapital 2023-03-31 08735209 core:ShareCapital 2022-03-31 08735209 core:RetainedEarningsAccumulatedLosses 2023-03-31 08735209 core:RetainedEarningsAccumulatedLosses 2022-03-31 08735209 core:PlantMachinery 2022-03-31 08735209 bus:SmallEntities 2022-04-01 2023-03-31 08735209 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08735209 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08735209 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08735209 bus:FullAccounts 2022-04-01 2023-03-31 08735209 bus:OrdinaryShareClass1 2023-03-31 08735209 bus:OrdinaryShareClass1 2022-03-31

COMPANY REGISTRATION NUMBER: 08735209

Grovesbrook Homes Limited

Filleted Unaudited Financial Statements

31 March 2023

Grovesbrook Homes Limited

Financial Statements

Year ended 31 March 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Grovesbrook Homes Limited

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Tangible assets	6		–		57,099

Current assets

Debtors	7	23	15,405
Cash at bank and in hand		18,851	9,712
		--------	--------
		18,874	25,117

Creditors: amounts falling due within one year	8	11,869		67,948
		--------		--------
Net current assets/(liabilities)			7,005		( 42,831)
			-------		--------
Total assets less current liabilities			7,005		14,268

Provisions

Taxation including deferred tax	–	10,849
	-------	--------
Net assets	7,005	3,419
	-------	--------

Capital and reserves

Called up share capital	9	1,000	1,000
Profit and loss account		6,005	2,419
		-------	-------
Shareholders funds		7,005	3,419
		-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Grovesbrook Homes Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 7 December 2023 , and are signed on behalf of the board by:

J P Rumsey

Director

Company registration number: 08735209

Grovesbrook Homes Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and Machinery	-	20% straight line

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Average number of employees

During the year the average number of employees was 2 (2022: 4) which consisted of the directors only.

5. Tax on profit/(loss)

Major components of tax expense/(income)

	2023	2022
	£	£

Current tax:

UK current tax expense/(income)	10,868	( 13,158)

Deferred tax:

Origination and reversal of timing differences	( 10,849)	10,849
	--------	--------
Tax on profit/(loss)	19	( 2,309)
	--------	--------

6. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 April 2022	64,655	64,655
Additions	7,342	7,342
Disposals	( 71,997)	( 71,997)
	--------	--------
At 31 March 2023	–	–
	--------	--------
Depreciation
At 1 April 2022	7,556	7,556
Charge for the year	6,923	6,923
Disposals	( 14,479)	( 14,479)
	--------	--------
At 31 March 2023	–	–
	--------	--------
Carrying amount
At 31 March 2023	–	–
	--------	--------
At 31 March 2022	57,099	57,099
	--------	--------

7. Debtors

	2023	2022
	£	£
Prepayments and accrued income	–	431
Corporation tax repayable	–	14,890
Other debtors	23	84
	----	--------
	23	15,405
	----	--------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Accruals and deferred income	1,000	1,123
Corporation tax	10,869	–
Amounts owed to related undertakings	–	66,825
	--------	--------
	11,869	67,948
	--------	--------

9. Called up share capital

Issued, called up and fully paid

	2023		2022
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

10. Related party transactions

At the year end the company owed related parties £NIL (2022: £66,825) which is shown amongst creditors. During the year there were recharges from related parties of £480 (2022: £524).