Company Registration No. 02593680 (England and Wales)
CHARLES GROSVENOR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
CHARLES GROSVENOR LIMITED
COMPANY INFORMATION
Directors
Mr R G Annis
Mr R G Annis
Mrs L J Lunn
Secretary
Mr R G Annis
Company number
02593680
Registered office
302 Birchfield Road
Redditch
Worcestershire
B97 4LZ
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
NatWest Bank Plc
Church Green House
Redditch
Worcestershire
B98 8DG
CHARLES GROSVENOR LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
CHARLES GROSVENOR LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CHARLES GROSVENOR LIMITED FOR THE YEAR ENDED 31 MAY 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Charles Grosvenor Limited for the year ended 31 May 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Charles Grosvenor Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Charles Grosvenor Limited and state those matters that we have agreed to state to the Board of Directors of Charles Grosvenor Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Charles Grosvenor Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Charles Grosvenor Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Charles Grosvenor Limited. You consider that Charles Grosvenor Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Charles Grosvenor Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
29 January 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
CHARLES GROSVENOR LIMITED
BALANCE SHEET
AS AT 31 MAY 2023
31 May 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
115,923
110,998
Current assets
Stocks
8,984
79,921
Debtors
4
1,011,931
922,708
Cash at bank and in hand
361,498
271,774
1,382,413
1,274,403
Creditors: amounts falling due within one year
5
(650,928)
(539,755)
Net current assets
731,485
734,648
Total assets less current liabilities
847,408
845,646
Provisions for liabilities
6
(15,834)
(14,286)
Net assets
831,574
831,360
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
831,474
831,260
Total equity
831,574
831,360

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

CHARLES GROSVENOR LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023
31 May 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 29 January 2024 and are signed on its behalf by:
Mr R G Annis
Director
Company Registration No. 02593680
CHARLES GROSVENOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
1
Accounting policies
Company information

Charles Grosvenor Limited is a private company limited by shares incorporated in England and Wales. The registered office is 302 Birchfield Road, Redditch, Worcestershire, B97 4LZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

CHARLES GROSVENOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 15 (2022 - 17).

CHARLES GROSVENOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2022
19,808
7,842
202,340
229,990
Additions
388
-
0
53,667
54,055
Disposals
-
0
-
0
(24,220)
(24,220)
At 31 May 2023
20,196
7,842
231,787
259,825
Depreciation and impairment
At 1 June 2022
13,917
6,003
99,072
118,992
Depreciation charged in the year
941
1,357
36,668
38,966
Eliminated in respect of disposals
-
0
-
0
(14,056)
(14,056)
At 31 May 2023
14,858
7,360
121,684
143,902
Carrying amount
At 31 May 2023
5,338
482
110,103
115,923
At 31 May 2022
5,891
1,839
103,268
110,998
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
82,919
54,517
Amounts owed by group undertakings
929,012
868,191
1,011,931
922,708
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
247,126
251,919
Taxation and social security
294,060
184,788
Other creditors
109,742
103,048
650,928
539,755
6
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
15,834
14,286
CHARLES GROSVENOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 7 -
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
100
100
8
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9
Control

Ultimate parent company

The ultimate parent company is Charles Grosvenor Holdings Limited, a company registered in England and Wales.

Ultimate controlling party

There is no ultimate controlling party, by virtue of no controlling interest in the ultimate parent company.

2023-05-312022-06-01false29 January 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr R G AnnisMrs L J LunnMrs L J LunnMr R G Annisfalse025936802022-06-012023-05-3102593680bus:Director12022-06-012023-05-3102593680bus:CompanySecretaryDirector12022-06-012023-05-3102593680bus:Director22022-06-012023-05-3102593680bus:CompanySecretary12022-06-012023-05-3102593680bus:Director32022-06-012023-05-3102593680bus:RegisteredOffice2022-06-012023-05-3102593680bus:Agent12022-06-012023-05-31025936802023-05-31025936802022-05-3102593680core:FurnitureFittings2023-05-3102593680core:ComputerEquipment2023-05-3102593680core:MotorVehicles2023-05-3102593680core:FurnitureFittings2022-05-3102593680core:ComputerEquipment2022-05-3102593680core:MotorVehicles2022-05-3102593680core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3102593680core:CurrentFinancialInstrumentscore:WithinOneYear2022-05-3102593680core:CurrentFinancialInstruments2023-05-3102593680core:CurrentFinancialInstruments2022-05-3102593680core:ShareCapital2023-05-3102593680core:ShareCapital2022-05-3102593680core:RetainedEarningsAccumulatedLosses2023-05-3102593680core:RetainedEarningsAccumulatedLosses2022-05-3102593680core:ShareCapitalOrdinaryShares2023-05-3102593680core:ShareCapitalOrdinaryShares2022-05-3102593680core:FurnitureFittings2022-06-012023-05-3102593680core:ComputerEquipment2022-06-012023-05-3102593680core:MotorVehicles2022-06-012023-05-3102593680core:FurnitureFittings2022-05-3102593680core:ComputerEquipment2022-05-3102593680core:MotorVehicles2022-05-31025936802022-05-3102593680bus:OrdinaryShareClass12022-06-012023-05-3102593680bus:OrdinaryShareClass12023-05-3102593680bus:PrivateLimitedCompanyLtd2022-06-012023-05-3102593680bus:SmallCompaniesRegimeForAccounts2022-06-012023-05-3102593680bus:FRS1022022-06-012023-05-3102593680bus:AuditExemptWithAccountantsReport2022-06-012023-05-3102593680bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP