1 false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2021 - FRS102_2021 32,700 32,700 5,880 5,880 xbrli:pure xbrli:shares iso4217:GBP 04252795 2022-08-01 2023-07-31 04252795 2023-07-31 04252795 2021-08-01 2022-07-31 04252795 2022-07-31 04252795 core:NetGoodwill 2022-08-01 2023-07-31 04252795 core:LandBuildings core:LongLeaseholdAssets 2022-08-01 2023-07-31 04252795 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 04252795 bus:Director1 2022-08-01 2023-07-31 04252795 core:NetGoodwill 2023-07-31 04252795 core:LandBuildings core:LongLeaseholdAssets 2023-07-31 04252795 core:WithinOneYear 2023-07-31 04252795 core:WithinOneYear 2022-07-31 04252795 core:ShareCapital 2023-07-31 04252795 core:ShareCapital 2022-07-31 04252795 core:RetainedEarningsAccumulatedLosses 2023-07-31 04252795 core:RetainedEarningsAccumulatedLosses 2022-07-31 04252795 bus:Director1 2021-08-01 2022-07-31 04252795 bus:SmallEntities 2022-08-01 2023-07-31 04252795 bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 04252795 bus:FullAccounts 2022-08-01 2023-07-31 04252795 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 04252795 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04252795 bus:OrdinaryShareClass1 2023-07-31 04252795 bus:OrdinaryShareClass1 2022-07-31
COMPANY REGISTRATION NUMBER: 04252795
GROSVENOR SHOE REPAIRS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2023
GROSVENOR SHOE REPAIRS LIMITED
STATEMENT OF FINANCIAL POSITION
31 July 2023
2023
2022
Note
£
£
£
£
CURRENT ASSETS
Stocks
750
500
Debtors
7
3,970
86
Cash at bank and in hand
3,006
8,779
-------
-------
7,726
9,365
CREDITORS: amounts falling due within one year
8
3,369
5,172
-------
-------
NET CURRENT ASSETS
4,357
4,193
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
4,357
4,193
-------
-------
NET ASSETS
4,357
4,193
-------
-------
CAPITAL AND RESERVES
Called up share capital
9
2
2
Profit and loss account
4,355
4,191
-------
-------
SHAREHOLDERS FUNDS
4,357
4,193
-------
-------
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 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 April 2024 , and are signed on behalf of the board by:
Mr A Smith
Director
Company registration number: 04252795
GROSVENOR SHOE REPAIRS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 July 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 c/o Muras Baker Jones Limited, Regent House, Bath Avenue, Wolverhampton, WV1 4EG.
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
The turnover shown in the profit and loss account represents the amounts sold during the year.
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
25% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Long leasehold property
-
10% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 August 2022 and 31 July 2023
32,700
--------
Amortisation
At 1 August 2022 and 31 July 2023
32,700
--------
Carrying amount
At 31 July 2023
--------
At 31 July 2022
--------
6. TANGIBLE ASSETS
Long leasehold property
£
Cost
At 1 August 2022 and 31 July 2023
5,880
-------
Depreciation
At 1 August 2022 and 31 July 2023
5,880
-------
Carrying amount
At 31 July 2023
-------
At 31 July 2022
-------
7. DEBTORS
2023
2022
£
£
Other debtors
3,970
86
-------
----
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
652
Social security and other taxes
103
57
Other creditors
2,614
5,115
-------
-------
3,369
5,172
-------
-------
9. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr A Smith
10,908
( 10,908)
----
--------
--------
----
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr A Smith
3,318
( 3,318)
----
-------
-------
----
Interest is charged on advances to the director in line with H M Revenue & Customs beneficial loan guidance. Loans to the director are repayable on demand.