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Company Registration No. 04777653 (England and Wales)
D. Grove Plastering Ltd Unaudited accounts for the year ended 31 March 2023
D. Grove Plastering Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
20,909 
27,379 
Current assets
Debtors
12,441 
19,135 
Cash at bank and in hand
20,041 
13,703 
32,482 
32,838 
Creditors: amounts falling due within one year
(19,157)
(22,245)
Net current assets
13,325 
10,593 
Total assets less current liabilities
34,234 
37,972 
Creditors: amounts falling due after more than one year
(29,762)
(32,735)
Provisions for liabilities
Deferred tax
(3,973)
(5,202)
Net assets
499 
35 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
497 
33 
Shareholders' funds
499 
35 
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. 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by
Mr. D. Grove Director Company Registration No. 04777653
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D. Grove Plastering Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
D. Grove Plastering Ltd is a private company, limited by shares, registered in England and Wales, registration number 04777653. The registered office is The Hollies, Lockley Wood, Market Drayton, TF9 2LT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Computer equipment
25% Reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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D. Grove Plastering Ltd Notes to the Accounts for the year ended 31 March 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2022
65,606 
Additions
500 
At 31 March 2023
66,106 
Depreciation
At 1 April 2022
38,227 
Charge for the year
6,970 
At 31 March 2023
45,197 
Net book value
At 31 March 2023
20,909 
At 31 March 2022
27,379 
5
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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