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Company registration number:
09879298
GROSVENOR CAR COMPANY LIMITED
30 November 2023
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
GROSVENOR CAR COMPANY LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
GROSVENOR CAR COMPANY LIMITED
DIRECTORS AND OTHER INFORMATION
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Directors |
Mr S D Woods |
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Mrs T Woods |
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Company number |
09879298 |
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Registered office |
Countrywide House |
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Battlefield Enterprise Park |
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Shrewsbury |
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Shropshire |
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SY1 3AB |
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Business address |
20 Woodcote Edge |
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Church Stretton |
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Shropshire |
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SY6 6DF |
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Accountants |
Heywoods |
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Countrywide House |
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Knights Way |
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Shrewsbury |
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Shropshire |
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SY1 3AB |
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GROSVENOR CAR COMPANY LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GROSVENOR CAR COMPANY LIMITED
YEAR ENDED 30 NOVEMBER 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Grosvenor Car Company Limited for the year ended 30 November 2023 which comprise the statement of financial position, statement of changes in equity and 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 Grosvenor Car Company Limited, as a body, in accordance with the terms of our engagement letter dated 22 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Grosvenor Car Company Limited and state those matters that we have agreed to state to the board of directors of Grosvenor Car Company 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 Grosvenor Car Company Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Grosvenor Car Company 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 Grosvenor Car Company Limited. You consider that Grosvenor Car Company 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 Grosvenor Car Company 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.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
23 August 2024
GROSVENOR CAR COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023
|
|
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2023 |
|
|
|
2022 |
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|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
280 |
|
|
|
330 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
280 |
|
|
|
330 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
1,650 |
|
|
|
3,000 |
|
|
Debtors |
|
6 |
108 |
|
|
|
449 |
|
|
Cash at bank and in hand |
|
|
865 |
|
|
|
1,207 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
2,623 |
|
|
|
4,656 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
43,610) |
|
|
|
(
43,868) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
40,987) |
|
|
|
(
39,212) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
40,707) |
|
|
|
(
38,882) |
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|
|
|
|
|
|
|
|
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Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
13,000) |
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|
|
(
15,000) |
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|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
53) |
|
|
|
(
63) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
53,760) |
|
|
|
(
53,945) |
|
|
|
|
|
_______ |
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|
_______ |
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Capital and reserves |
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|
|
|
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|
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Called up share capital |
|
|
|
|
2 |
|
|
|
2 |
Profit and loss account |
|
|
|
|
(
53,762) |
|
|
|
(
53,947) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders deficit |
|
|
|
|
(
53,760) |
|
|
|
(
53,945) |
|
|
|
|
|
_______ |
|
|
|
_______ |
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For the 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.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
23 August 2024
, and are signed on behalf of the board by:
Mr S D Woods
Mrs T Woods
Director
Director
Company registration number:
09879298
GROSVENOR CAR COMPANY LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 30 NOVEMBER 2023
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
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|
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At 1 December 2021 |
|
2 |
|
(
50,168) |
(
50,166) |
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|
|
|
|
|
|
|
|
|
|
|
|
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|
Profit/(loss) for the year |
|
|
|
(
3,779) |
(
3,779) |
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|
|
|
|
|
|
_______ |
|
_______ |
_______ |
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Total comprehensive income for the year |
|
- |
|
(
3,779) |
(
3,779) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
_______ |
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_______ |
_______ |
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At 30 November 2022 and 1 December 2022 |
|
2 |
|
(
53,947) |
(
53,945) |
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|
|
|
|
|
|
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Profit/(loss) for the year |
|
|
|
185 |
185 |
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|
|
|
|
|
|
_______ |
|
_______ |
_______ |
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Total comprehensive income for the year |
|
- |
|
185 |
185 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
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At 30 November 2023 |
|
2 |
|
(
53,762) |
(
53,760) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
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GROSVENOR CAR COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1.
General information
The company is a private company limited by shares, registered in Enland and Wales. The address of the registered office is Countrywide House, Battlefield Enterprise Park, Shrewsbury, Shropshire, SY1 3AB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Going concern
The company is insolvent and is dependant upon the continued support of the directors.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are 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:
|
|
|
|
|
|
Fittings fixtures and equipment |
- |
15 % |
reducing balance |
|
|
|
|
|
Stocks
Stock is included at the lower of cost or estimated selling price less costs to complete and sell.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
2
).
5.
Tangible assets
|
|
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 December 2022 and 30 November 2023 |
1,000 |
1,000 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 December 2022 |
670 |
670 |
|
|
|
|
|
|
Charge for the year |
50 |
50 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 30 November 2023 |
720 |
720 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 November 2023 |
280 |
280 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 30 November 2022 |
330 |
330 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other debtors |
|
108 |
449 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
2,000 |
2,000 |
|
Social security and other taxes |
|
180 |
180 |
|
Other creditors |
|
41,430 |
41,688 |
|
|
|
_______ |
_______ |
|
|
|
43,610 |
43,868 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
13,000 |
15,000 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr S D Woods |
(
39,995) |
(
282) |
(
40,277) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr S D Woods |
(
39,540) |
(
455) |
(
39,995) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|