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Registration number: 08738898

Gros & Partner Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Gros & Partner Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Gros & Partner Limited

Company Information

Director

Mr M R Gros

Registered office

11c Oakmoore Court
Kingswood Road
Hampton Lovett
Droitwich
Worcs
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Gros & Partner Limited

(Registration number: 08738898)
Balance Sheet as at 31 December 2023

Note

2023

2022

Fixed assets

 

Tangible assets

3

3,923

4,256

Investments

4

212,598

212,598

 

216,521

216,854

Current assets

 

Debtors

5

107,825

97,748

Cash at bank and in hand

 

12,591

3,842

 

120,416

101,590

Creditors: Amounts falling due within one year

6

(442,114)

(386,132)

Net current liabilities

 

(321,698)

(284,542)

Net liabilities

 

(105,177)

(67,688)

Capital and reserves

 

Called up share capital

1

1

Capital redemption reserve

25,565

25,565

Retained earnings

(130,743)

(93,254)

Shareholders' deficit

 

(105,177)

(67,688)

For the financial year ending 31 December 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 prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 September 2024
 

.........................................
Mr M R Gros
Director

   
 

Gros & Partner Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

Accounting policies

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Gros & Partner Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Gros & Partner Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Tangible assets

Furniture, fittings and equipment
 €

Total

Cost or valuation

At 1 January 2023

29,711

29,711

Additions

1,436

1,436

At 31 December 2023

31,147

31,147

Depreciation

At 1 January 2023

25,455

25,455

Charge for the year

1,769

1,769

At 31 December 2023

27,224

27,224

Carrying amount

At 31 December 2023

3,923

3,923

At 31 December 2022

4,256

4,256

 

Gros & Partner Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Investments

2023

2022

Investments in associates

212,598

212,598

Associates

Cost

At 1 January 2023

212,598

Carrying amount

At 31 December 2023

212,598

At 31 December 2022

212,598

5

Debtors

Current

Note

2023

2022

Trade debtors

 

5,000

-

Amounts owed by related parties

88,175

84,830

Other debtors

 

14,650

12,918

   

107,825

97,748

6

Creditors

Creditors: amounts falling due within one year

Note

2023

2022

Due within one year

 

Amounts owed to related parties

308,428

252,456

Other creditors

 

133,686

133,676

 

442,114

386,132