1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 12,263 11,498 192 11,690 573 765 xbrli:pure xbrli:shares iso4217:GBP 03091138 2022-10-01 2023-09-30 03091138 2023-09-30 03091138 2022-09-30 03091138 2021-10-01 2022-09-30 03091138 2022-09-30 03091138 2021-09-30 03091138 bus:Director1 2022-10-01 2023-09-30 03091138 core:WithinOneYear 2023-09-30 03091138 core:WithinOneYear 2022-09-30 03091138 core:AfterOneYear 2023-09-30 03091138 core:AfterOneYear 2022-09-30 03091138 core:ShareCapital 2023-09-30 03091138 core:ShareCapital 2022-09-30 03091138 core:RetainedEarningsAccumulatedLosses 2023-09-30 03091138 core:RetainedEarningsAccumulatedLosses 2022-09-30 03091138 bus:Director1 2022-09-30 03091138 bus:Director1 2023-09-30 03091138 bus:Director1 2021-09-30 03091138 bus:Director1 2022-09-30 03091138 bus:Director1 2021-10-01 2022-09-30 03091138 bus:SmallEntities 2022-10-01 2023-09-30 03091138 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 03091138 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 03091138 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 03091138 bus:FullAccounts 2022-10-01 2023-09-30 03091138 core:OfficeEquipment 2022-10-01 2023-09-30 03091138 core:OfficeEquipment 2023-09-30 03091138 core:OfficeEquipment 2022-09-30
COMPANY REGISTRATION NUMBER: 03091138
Grovewood Insurance Services Limited
Filleted Unaudited Financial Statements
30 September 2023
Grovewood Insurance Services Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
573
765
Current assets
Debtors
6
61,239
72,910
Cash at bank and in hand
146
314
--------
--------
61,385
73,224
Creditors: amounts falling due within one year
7
57,199
66,810
--------
--------
Net current assets
4,186
6,414
-------
-------
Total assets less current liabilities
4,759
7,179
Creditors: amounts falling due after more than one year
8
4,351
6,824
-------
-------
Net assets
408
355
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
406
353
----
----
Shareholders funds
408
355
----
----
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 income and retained earnings has not been delivered.
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Grovewood Insurance Services Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 16 September 2024 , and are signed on behalf of the board by:
Mr R Annable
Director
Company registration number: 03091138
Grovewood Insurance Services Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Grovewood House, Bolter End Lane, High Wycombe, Bucks, HP14 3LU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Office Equipment
-
25% reducing balance
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 October 2022 and 30 September 2023
12,263
12,263
--------
--------
Depreciation
At 1 October 2022
11,498
11,498
Charge for the year
192
192
--------
--------
At 30 September 2023
11,690
11,690
--------
--------
Carrying amount
At 30 September 2023
573
573
--------
--------
At 30 September 2022
765
765
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
24,647
12,564
Other debtors
36,592
60,346
--------
--------
61,239
72,910
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,299
2,119
Trade creditors
760
882
Corporation tax
29,435
26,732
Social security and other taxes
4,144
2,347
Other creditors
20,561
34,730
--------
--------
57,199
66,810
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,351
6,824
-------
-------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Annable
44,789
41,763
( 59,690)
26,862
--------
--------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Annable
30,639
31,270
( 17,120)
44,789
--------
--------
--------
--------