IRIS Accounts Production v24.1.9.2 03444274 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh034442742022-10-31034442742023-10-31034442742022-11-012023-10-31034442742021-10-31034442742021-11-012022-10-31034442742022-10-3103444274ns15:EnglandWales2022-11-012023-10-3103444274ns14:PoundSterling2022-11-012023-10-3103444274ns10:Director12022-11-012023-10-3103444274ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3103444274ns10:SmallEntities2022-11-012023-10-3103444274ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3103444274ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3103444274ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3103444274ns10:FullAccounts2022-11-012023-10-3103444274ns10:OrdinaryShareClass12022-11-012023-10-3103444274ns10:Director22022-11-012023-10-3103444274ns10:Director32022-11-012023-10-3103444274ns10:Director42022-11-012023-10-3103444274ns10:RegisteredOffice2022-11-012023-10-3103444274ns5:CurrentFinancialInstruments2023-10-3103444274ns5:CurrentFinancialInstruments2022-10-3103444274ns5:ShareCapital2023-10-3103444274ns5:ShareCapital2022-10-3103444274ns5:RetainedEarningsAccumulatedLosses2023-10-3103444274ns5:RetainedEarningsAccumulatedLosses2022-10-3103444274ns5:ShortLeaseholdAssetsns5:LandBuildings2022-11-012023-10-3103444274ns5:FurnitureFittings2022-11-012023-10-3103444274ns5:ComputerEquipment2022-11-012023-10-3103444274ns5:ShortLeaseholdAssetsns5:LandBuildings2022-10-3103444274ns5:FurnitureFittings2022-10-3103444274ns5:ComputerEquipment2022-10-3103444274ns5:ShortLeaseholdAssetsns5:LandBuildings2023-10-3103444274ns5:FurnitureFittings2023-10-3103444274ns5:ComputerEquipment2023-10-3103444274ns5:ShortLeaseholdAssetsns5:LandBuildings2022-10-3103444274ns5:FurnitureFittings2022-10-3103444274ns5:ComputerEquipment2022-10-3103444274ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3103444274ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3103444274ns5:WithinOneYear2023-10-3103444274ns5:WithinOneYear2022-10-3103444274ns5:BetweenOneFiveYears2023-10-3103444274ns5:BetweenOneFiveYears2022-10-3103444274ns5:MoreThanFiveYears2023-10-3103444274ns5:MoreThanFiveYears2022-10-3103444274ns5:AllPeriods2023-10-3103444274ns5:AllPeriods2022-10-3103444274ns10:OrdinaryShareClass12023-10-31
REGISTERED NUMBER: 03444274 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Grosvenor Philatelic Auctions Limited

Grosvenor Philatelic Auctions Limited (Registered number: 03444274)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Grosvenor Philatelic Auctions Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: J M Grist
G Page
T A Margalski
C A Dennis





REGISTERED OFFICE: 399 - 401 Strand
Third Floor
London
WC2R 0LT





REGISTERED NUMBER: 03444274 (England and Wales)





ACCOUNTANTS: Deeks Evans Audit Services Limited
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU

Grosvenor Philatelic Auctions Limited (Registered number: 03444274)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,362 12,735

CURRENT ASSETS
Stocks 1,000 981
Debtors 5 530,819 328,550
Cash at bank and in hand 524,505 965,308
1,056,324 1,294,839
CREDITORS
Amounts falling due within one year 6 394,081 663,142
NET CURRENT ASSETS 662,243 631,697
TOTAL ASSETS LESS CURRENT
LIABILITIES

670,605

644,432

CAPITAL & RESERVES
Called up share capital 8 30 30
Retained earnings 670,575 644,402
SHAREHOLDERS' FUNDS 670,605 644,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





J M Grist - Director


Grosvenor Philatelic Auctions Limited (Registered number: 03444274)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Grosvenor Philatelic Auctions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents commissions receivable and sales of stamps, excluding value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the lease term
Fixtures & fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences 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 tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

Grosvenor Philatelic Auctions Limited (Registered number: 03444274)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Short Fixtures Computer
leasehold & fittings equipment Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 9,484 55,238 134,278 199,000
DEPRECIATION
At 1 November 2022 3,792 54,733 127,740 186,265
Charge for year 948 303 3,122 4,373
At 31 October 2023 4,740 55,036 130,862 190,638
NET BOOK VALUE
At 31 October 2023 4,744 202 3,416 8,362
At 31 October 2022 5,692 505 6,538 12,735

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 449,423 299,183
Other debtors 68,200 4,000
Prepayments & accrued income 13,196 25,367
530,819 328,550

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 326,077 590,069
Corporation tax 24,710 15,295
Social security & other taxes 6,223 28,970
Other creditors 14,502 7,236
Directors' current accounts 5,043 3,196
Accrued expenses 17,526 18,376
394,081 663,142

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 71,482 71,482
Between one and five years 285,928 285,928
In more than five years 41,698 113,180
399,108 470,590

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 30 30