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Registration number: 09869018

Grousemoor Engineering Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Grousemoor Engineering Limited

(Registration number: 09869018)

Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

2,390

3,802

Current assets

 

Debtors

4

35,151

27,375

Cash at bank and in hand

 

120,336

158,305

 

155,487

185,680

Creditors: Amounts falling due within one year

5

(14,398)

(19,893)

Net current assets

 

141,089

165,787

Total assets less current liabilities

 

143,479

169,589

Provisions for liabilities

(597)

(950)

Net assets

 

142,882

168,639

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

142,782

168,539

Shareholders' funds

 

142,882

168,639

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 8 April 2024
 

.........................................

Mr I Knowles
Director

 

Grousemoor Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

Accounting policies

Statutory information

Grousemoor Engineering Limited is a private company, limited by shares, domiciled in England and Wales, company number 09869018. The registered office is at 272 Fulwood Road, Sheffield, S10 3BN.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

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.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Unrelieved tax losses and other deferred tax assets shall be recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Grousemoor Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% straight line

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions are charged in the profit and loss account as they become payable in accordance with the rules of the scheme.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 2).

3

Tangible assets

Fixtures, fittings and equipment
£

Cost or valuation

At 1 December 2022

18,651

Disposals

(11,592)

At 30 November 2023

7,059

Depreciation

At 1 December 2022

14,849

Charge for the year

1,412

Eliminated on disposal

(11,592)

At 30 November 2023

4,669

Carrying amount

At 30 November 2023

2,390

At 30 November 2022

3,802

 

Grousemoor Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

4

Debtors

2023
£

2022
£

Trade debtors

35,151

27,375

5

Creditors

2023
£

2022
£

Due within one year

Taxation and social security

7,841

17,384

Director's current account

3,307

122

Accruals

3,250

2,387

14,398

19,893