Grocott Vehicle Trading Limited 13903751 false 2022-02-09 2023-03-31 2023-03-31 The principal activity of the company is vehicle trading. Digita Accounts Production Advanced 6.30.9574.0 true true 13903751 2022-02-09 2023-03-31 13903751 2023-03-31 13903751 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-03-31 13903751 core:CurrentFinancialInstruments 2023-03-31 13903751 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13903751 bus:SmallEntities 2022-02-09 2023-03-31 13903751 bus:AuditExemptWithAccountantsReport 2022-02-09 2023-03-31 13903751 bus:FullAccounts 2022-02-09 2023-03-31 13903751 bus:SmallCompaniesRegimeForAccounts 2022-02-09 2023-03-31 13903751 bus:RegisteredOffice 2022-02-09 2023-03-31 13903751 bus:Director1 2022-02-09 2023-03-31 13903751 bus:Director2 2022-02-09 2023-03-31 13903751 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-02-09 2023-03-31 13903751 bus:PrivateLimitedCompanyLtd 2022-02-09 2023-03-31 13903751 1 2022-02-09 2023-03-31 13903751 countries:AllCountries 2022-02-09 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13903751

Grocott Vehicle Trading Limited

Annual Report and Unaudited Financial Statements

for the Period from 9 February 2022 to 31 March 2023

 

Grocott Vehicle Trading Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Grocott Vehicle Trading Limited

Company Information

Directors

D V Grocott

L M Grocott

Registered office

Brookdale
Station Road
Prees
Shropshire
SY13 2DW

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Grocott Vehicle Trading Limited

(Registration number: 13903751)
Balance Sheet as at 31 March 2023

Note

2023
£

Current assets

 

Stocks

4

1,293,193

Debtors

5

168,404

Cash at bank and in hand

 

83,192

 

1,544,789

Creditors: Amounts falling due within one year

6

(1,454,719)

Net assets

 

90,070

Capital and reserves

 

Called up share capital

7

100

Retained earnings

89,970

Shareholders' funds

 

90,070

For the financial period 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 accounts for the period in question in accordance with section 476; and

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 August 2023 and signed on its behalf by:
 


D V Grocott
Director

 

Grocott Vehicle Trading Limited

Notes to the Unaudited Financial Statements for the Period from 9 February 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Brookdale
Station Road
Prees
Shropshire
SY13 2DW

These financial statements were authorised for issue by the Board on 15 August 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Summary of disclosure exemptions

The company has taken advantage of the exemption of FRS 102 paragraph 33.1A to not disclose related party transactions with wholly owned group members.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Grocott Vehicle Trading Limited

Notes to the Unaudited Financial Statements for the Period from 9 February 2022 to 31 March 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0.

4

Stocks

2023
£

Other inventories

1,293,193

5

Debtors

Current

2023
£

Trade debtors

165,496

Other debtors

2,908

 

168,404

 

Grocott Vehicle Trading Limited

Notes to the Unaudited Financial Statements for the Period from 9 February 2022 to 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Trade creditors

 

67,776

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

1,065,388

Taxation and social security

 

21,105

Accruals and deferred income

 

450

Other creditors

 

300,000

 

1,454,719

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

100

100

     

8

Related party transactions

At 31 March 2023 the company owed the directors a balance of £300,000, which is included in Other creditors. This balance is unsecured, interest free and with no fixed terms of repayment.

9

Parent and ultimate parent undertaking

The company's immediate parent is Grocott Developments Limited, incorporated in England & Wales.