2022-12-012023-11-302023-11-30false12323063GRICE AND FOSTER LINEN SERVICES LTD2024-08-0696010iso4217:GBPxbrli:pure123230632022-12-01123230632023-11-30123230632022-12-012023-11-30123230632021-12-01123230632022-11-30123230632021-12-012022-11-3012323063bus:SmallEntities2022-12-012023-11-3012323063bus:AuditExempt-NoAccountantsReport2022-12-012023-11-3012323063bus:FullAccounts2022-12-012023-11-3012323063bus:PrivateLimitedCompanyLtd2022-12-012023-11-3012323063core:WithinOneYear2023-11-3012323063core:AfterOneYear2023-11-3012323063core:WithinOneYear2022-11-3012323063core:AfterOneYear2022-11-3012323063core:ShareCapital2023-11-3012323063core:SharePremium2023-11-3012323063core:RevaluationReserve2023-11-3012323063core:OtherReservesSubtotal2023-11-3012323063core:RetainedEarningsAccumulatedLosses2023-11-3012323063core:ShareCapital2022-11-3012323063core:SharePremium2022-11-3012323063core:RevaluationReserve2022-11-3012323063core:OtherReservesSubtotal2022-11-3012323063core:RetainedEarningsAccumulatedLosses2022-11-3012323063core:LandBuildings2023-11-3012323063core:PlantMachinery2023-11-3012323063core:Vehicles2023-11-3012323063core:FurnitureFittings2023-11-3012323063core:OfficeEquipment2023-11-3012323063core:NetGoodwill2023-11-3012323063core:IntangibleAssetsOtherThanGoodwill2023-11-3012323063core:ListedExchangeTraded2023-11-3012323063core:UnlistedNon-exchangeTraded2023-11-3012323063core:LandBuildings2022-11-3012323063core:PlantMachinery2022-11-3012323063core:Vehicles2022-11-3012323063core:FurnitureFittings2022-11-3012323063core:OfficeEquipment2022-11-3012323063core:NetGoodwill2022-11-3012323063core:IntangibleAssetsOtherThanGoodwill2022-11-3012323063core:ListedExchangeTraded2022-11-3012323063core:UnlistedNon-exchangeTraded2022-11-3012323063core:LandBuildings2022-12-012023-11-3012323063core:PlantMachinery2022-12-012023-11-3012323063core:Vehicles2022-12-012023-11-3012323063core:FurnitureFittings2022-12-012023-11-3012323063core:OfficeEquipment2022-12-012023-11-3012323063core:NetGoodwill2022-12-012023-11-3012323063core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3012323063core:ListedExchangeTraded2022-12-012023-11-3012323063core:UnlistedNon-exchangeTraded2022-12-012023-11-3012323063core:MoreThanFiveYears2022-12-012023-11-3012323063core:Non-currentFinancialInstruments2023-11-3012323063core:Non-currentFinancialInstruments2022-11-3012323063dpl:CostSales2022-12-012023-11-3012323063dpl:DistributionCosts2022-12-012023-11-3012323063core:LandBuildings2022-12-012023-11-3012323063core:PlantMachinery2022-12-012023-11-3012323063core:Vehicles2022-12-012023-11-3012323063core:FurnitureFittings2022-12-012023-11-3012323063core:OfficeEquipment2022-12-012023-11-3012323063dpl:AdministrativeExpenses2022-12-012023-11-3012323063core:NetGoodwill2022-12-012023-11-3012323063core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3012323063dpl:GroupUndertakings2022-12-012023-11-3012323063dpl:ParticipatingInterests2022-12-012023-11-3012323063dpl:GroupUndertakingscore:ListedExchangeTraded2022-12-012023-11-3012323063core:ListedExchangeTraded2022-12-012023-11-3012323063dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-12-012023-11-3012323063core:UnlistedNon-exchangeTraded2022-12-012023-11-3012323063dpl:CostSales2021-12-012022-11-3012323063dpl:DistributionCosts2021-12-012022-11-3012323063core:LandBuildings2021-12-012022-11-3012323063core:PlantMachinery2021-12-012022-11-3012323063core:Vehicles2021-12-012022-11-3012323063core:FurnitureFittings2021-12-012022-11-3012323063core:OfficeEquipment2021-12-012022-11-3012323063dpl:AdministrativeExpenses2021-12-012022-11-3012323063core:NetGoodwill2021-12-012022-11-3012323063core:IntangibleAssetsOtherThanGoodwill2021-12-012022-11-3012323063dpl:GroupUndertakings2021-12-012022-11-3012323063dpl:ParticipatingInterests2021-12-012022-11-3012323063dpl:GroupUndertakingscore:ListedExchangeTraded2021-12-012022-11-3012323063core:ListedExchangeTraded2021-12-012022-11-3012323063dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-12-012022-11-3012323063core:UnlistedNon-exchangeTraded2021-12-012022-11-3012323063core:NetGoodwill2023-11-3012323063core:IntangibleAssetsOtherThanGoodwill2023-11-3012323063core:LandBuildings2023-11-3012323063core:PlantMachinery2023-11-3012323063core:Vehicles2023-11-3012323063core:FurnitureFittings2023-11-3012323063core:OfficeEquipment2023-11-3012323063core:AfterOneYear2023-11-3012323063core:WithinOneYear2023-11-3012323063core:ListedExchangeTraded2023-11-3012323063core:UnlistedNon-exchangeTraded2023-11-3012323063core:ShareCapital2023-11-3012323063core:SharePremium2023-11-3012323063core:RevaluationReserve2023-11-3012323063core:OtherReservesSubtotal2023-11-3012323063core:RetainedEarningsAccumulatedLosses2023-11-3012323063core:NetGoodwill2022-11-3012323063core:IntangibleAssetsOtherThanGoodwill2022-11-3012323063core:LandBuildings2022-11-3012323063core:PlantMachinery2022-11-3012323063core:Vehicles2022-11-3012323063core:FurnitureFittings2022-11-3012323063core:OfficeEquipment2022-11-3012323063core:AfterOneYear2022-11-3012323063core:WithinOneYear2022-11-3012323063core:ListedExc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GRICE AND FOSTER LINEN SERVICES LTD

Registered Number
12323063
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

GRICE AND FOSTER LINEN SERVICES LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

Lisa Foster

Registered Address

Unit 1b George Edwards Road
Fakenham
NR21 8NL

Registered Number

12323063 (England and Wales)
GRICE AND FOSTER LINEN SERVICES LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets393,23177,303
93,23177,303
Current assets
Debtors31,88813,501
Cash at bank and on hand1,0991,100
32,98714,601
Creditors amounts falling due within one year4(133,798)(131,363)
Net current assets (liabilities)(100,811)(116,762)
Total assets less current liabilities(7,580)(39,459)
Creditors amounts falling due after one year5(112,813)(38,328)
Net assets(120,393)(77,787)
Capital and reserves
Called up share capital1010
Profit and loss account(120,403)(77,797)
Shareholders' funds(120,393)(77,787)
The financial statements were approved and authorised for issue by the Director on 6 August 2024, and are signed on its behalf by:
Lisa Foster
Director
Registered Company No. 12323063
GRICE AND FOSTER LINEN SERVICES LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20232022
Average number of employees during the year1010
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 December 22-75,78134,250-110,031
Additions4,77880,301-36585,444
At 30 November 234,778156,08234,250365195,475
Depreciation and impairment
At 01 December 22-23,5009,228-32,728
Charge for year17963,0666,2561569,516
At 30 November 2317986,56615,48415102,244
Net book value
At 30 November 234,59969,51618,76635093,231
At 30 November 22-52,28125,022-77,303
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables83,29159,178
Bank borrowings and overdrafts447362
Taxation and social security18,7146,071
Other creditors31,34634,868
Accrued liabilities and deferred income-30,884
Total133,798131,363
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts112,81338,328
Total112,81338,328