Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01false1311trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02763690 2023-01-01 2023-12-31 02763690 2022-01-01 2022-12-31 02763690 2023-12-31 02763690 2022-12-31 02763690 2022-01-01 02763690 2023-01-01 02763690 c:Director1 2023-01-01 2023-12-31 02763690 d:PlantMachinery 2023-01-01 2023-12-31 02763690 d:PlantMachinery 2023-12-31 02763690 d:PlantMachinery 2022-12-31 02763690 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02763690 d:MotorVehicles 2023-01-01 2023-12-31 02763690 d:MotorVehicles 2023-12-31 02763690 d:MotorVehicles 2022-12-31 02763690 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02763690 d:FurnitureFittings 2023-01-01 2023-12-31 02763690 d:FurnitureFittings 2023-12-31 02763690 d:FurnitureFittings 2022-12-31 02763690 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02763690 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 02763690 d:OtherPropertyPlantEquipment 2023-12-31 02763690 d:OtherPropertyPlantEquipment 2022-12-31 02763690 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02763690 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02763690 d:CurrentFinancialInstruments 2023-12-31 02763690 d:CurrentFinancialInstruments 2022-12-31 02763690 d:Non-currentFinancialInstruments 2023-12-31 02763690 d:Non-currentFinancialInstruments 2022-12-31 02763690 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02763690 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02763690 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02763690 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02763690 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 02763690 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 02763690 d:ShareCapital 2023-12-31 02763690 d:ShareCapital 2022-12-31 02763690 d:RetainedEarningsAccumulatedLosses 2023-12-31 02763690 d:RetainedEarningsAccumulatedLosses 2022-12-31 02763690 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02763690 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 02763690 c:OrdinaryShareClass1 2023-01-01 2023-12-31 02763690 c:OrdinaryShareClass1 2023-12-31 02763690 c:OrdinaryShareClass1 2022-12-31 02763690 c:FRS102 2023-01-01 2023-12-31 02763690 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02763690 c:FullAccounts 2023-01-01 2023-12-31 02763690 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02763690 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 02763690 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 02763690 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 02763690 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 02763690 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 02763690









GROSVENOR FABRICATIONS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GROSVENOR FABRICATIONS LIMITED
REGISTERED NUMBER: 02763690

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
45,442
30,486

  
45,442
30,486

Current assets
  

Stocks
 5 
353,284
345,217

Debtors: amounts falling due within one year
 6 
56,822
197,468

Cash at bank and in hand
 7 
84,192
1,217

  
494,298
543,902

Creditors: amounts falling due within one year
 8 
(427,359)
(413,030)

Net current assets
  
 
 
66,939
 
 
130,872

Total assets less current liabilities
  
112,381
161,358

Creditors: amounts falling due after more than one year
 9 
(67,563)
(96,555)

Provisions for liabilities
  

Deferred tax
 12 
(942)
(1,264)

  
 
 
(942)
 
 
(1,264)

Net assets
  
43,876
63,539


Capital and reserves
  

Called up share capital 
 13 
100
100

Profit and loss account
  
43,776
63,439

  
43,876
63,539

Page 1

 
GROSVENOR FABRICATIONS LIMITED
REGISTERED NUMBER: 02763690

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S C Hayter
Director

Date: 9 September 2024

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
GROSVENOR FABRICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Grosvenor Fabrications Limited, registration number 02763690, is a private company limited by shares, incorporated in the United Kingdom and registered at the address shown on the Company Information page. The Company's place of business address is Unit H, Woodside Suite 15-16, Peek Business Centre, Dunmow Road, Bishop's Stortford, Hertfordshire, CM23 5RG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 3

 
GROSVENOR FABRICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Page 4

 
GROSVENOR FABRICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Motor vehicles
-
20%
Fixtures and fittings
-
15%
Other fixed assets
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
GROSVENOR FABRICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 11).

Page 6

 
GROSVENOR FABRICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
31,623
78,045
22,133
20,715
152,516


Additions
748
23,815
1,687
2,538
28,788



At 31 December 2023

32,371
101,860
23,820
23,253
181,304



Depreciation


At 1 January 2023
17,970
70,258
15,325
18,477
122,030


Charge for the year on owned assets
3,079
6,910
2,132
1,711
13,832



At 31 December 2023

21,049
77,168
17,457
20,188
135,862



Net book value



At 31 December 2023
11,322
24,692
6,363
3,065
45,442



At 31 December 2022
13,653
7,787
6,808
2,238
30,486


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
353,284
345,217

353,284
345,217



6.


Debtors

2023
2022
£
£


Trade debtors
31,695
175,557

Other debtors
1,500
-

Prepayments and accrued income
23,627
21,911

56,822
197,468


Page 7

 
GROSVENOR FABRICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
84,192
1,217

84,192
1,217



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
56,434
207,080

Amounts owed to associates
16,667
16,667

Corporation tax
26,018
17,089

Other taxation and social security
120,029
126,517

Obligations under finance lease and hire purchase contracts
8,894
5,000

Directors loan accounts
183,658
28,375

Accruals and deferred income
5,659
2,302

427,359
413,030



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
15,833
25,833

Net obligations under finance leases and hire purchase contracts
10,175
-

Amounts owed to associates
41,555
70,722

67,563
96,555


Page 8

 
GROSVENOR FABRICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
15,833
25,833



25,833
35,833



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
8,894
-

Between 1-5 years
10,175
-

19,069
-


12.


Deferred taxation




2023
2022


£

£






At beginning of year
(1,264)
(700)


Charged to profit or loss
322
(564)



At end of year
(942)
(1,264)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(942)
(1,264)

(942)
(1,264)

Page 9

 
GROSVENOR FABRICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,690 (2022 - £577) . Contributions totalling £22 (2022 - £449) were payable to the fund at the balance sheet date and are included in creditors.


15.


Related party transactions

Transactions with related parties in the year were as follows:
Directors loan accounts
As at 1 January 2023, the Company had outstanding loans payable to the Directors of £28,375. During the year, the Company made repayments totalling £44,717 (2022 - £1,000) and received further  advances totalling £200,000 (2022 - £20,000.) The balance payable as at the year end was £183,658 (2022 - £28,375.). Directors dividends paid in the year totalled £98,160 (2022 - £98,160.)
Lime Grove Developments Limited (a company with a common director)
As at 1 January 2023, the Company had outstanding loans payable to Lime Grove Developments Limited of £87,389. During the year, the Company made repayments totalling £29,167 (2022 - £30,555). The balance payable as at the year end was £58,222 (2022 - £87,389.). 


Page 10