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REGISTERED NUMBER: 02909421 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Grosvenor Oil Services Limited

Grosvenor Oil Services Limited (Registered number: 02909421)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Grosvenor Oil Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M I Stephen
G A Allen





REGISTERED OFFICE: Unit C3 Taylor Business Park
Risley
Warrington
Cheshire
WA3 6BL





REGISTERED NUMBER: 02909421 (England and Wales)





AUDITORS: Johnstone Howell & Co
Statutory Auditors
104 Whitby Road
Ellesmere Port
Cheshire
CH65 0AB

Grosvenor Oil Services Limited (Registered number: 02909421)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 77,905 91,091

CURRENT ASSETS
Stocks 40,338 23,241
Debtors 5 1,295,244 1,117,289
Cash at bank and in hand 450,950 373,385
1,786,532 1,513,915
CREDITORS
Amounts falling due within one year 6 1,472,078 1,258,532
NET CURRENT ASSETS 314,454 255,383
TOTAL ASSETS LESS CURRENT
LIABILITIES

392,359

346,474

PROVISIONS FOR LIABILITIES 21,958 13,105
NET ASSETS 370,401 333,369

CAPITAL AND RESERVES
Called up share capital 35,000 35,000
Retained earnings 7 335,401 298,369
SHAREHOLDERS' FUNDS 370,401 333,369

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:




G A Allen - Director



M I Stephen - Director


Grosvenor Oil Services Limited (Registered number: 02909421)

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

1. STATUTORY INFORMATION

Grosvenor Oil Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company's presentational currency is pounds sterling.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured net of value added tax, rebates and discounts.

Turnover from the sale of goods and services is recognised when the company has delivered those goods and services to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and at varying rates on cost

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairments. The cost of property, plant and equipment includes any directly attributable incremental costs incurred in its acquisition and installation.

Stocks
Stock is valued at the lower of cost or net realisable value, after making due allowance for obsolete and slow moving items.

Cost represents the price payable to the third party suppliers of inventory.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Grosvenor Oil Services Limited (Registered number: 02909421)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Coronavirus (COVID-19) grants and support payments are recognised as income when the grant proceeds are received or receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023 645,237
Additions 26,466
At 31 December 2023 671,703
DEPRECIATION
At 1 January 2023 554,146
Charge for year 39,652
At 31 December 2023 593,798
NET BOOK VALUE
At 31 December 2023 77,905
At 31 December 2022 91,091

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 733,604 547,099
Amounts owed by group undertakings 519,093 559,231
Other debtors 42,547 10,959
1,295,244 1,117,289

Grosvenor Oil Services Limited (Registered number: 02909421)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 207,933 224,634
Amounts owed to group undertakings 998,359 774,739
Taxation and social security 210,710 148,987
Other creditors 55,076 110,172
1,472,078 1,258,532

7. RESERVES
Retained
earnings
£

At 1 January 2023 298,369
Profit for the year 460,651
Dividends (423,619 )
At 31 December 2023 335,401

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Bagnall FCA (Senior Statutory Auditor)
for and on behalf of Johnstone Howell & Co

9. OTHER FINANCIAL COMMITMENTS

There is an unlimited bilateral bank guarantee given by the company and Grosvenor Power Services Limited.

There are fixed and floating charges over the undertaking and all property and assets present and future.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions available under Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" not to disclose related party transactions with wholly owned subsidiaries within the group.

11. EVENTS AFTER THE REPORTING DATE

In June 2024 the company suffered an uninsured loss amounting to £170,000 as a consequence of the fraudulent activity of an unrelated third party. The directors are considering the actions available to them including legal redress. At present the outcome is uncertain.

12. ULTIMATE PARENT COMPANY

The ultimate parent undertaking, for the largest and smallest group for which the group accounts are prepared, is Grosvenor Power Group Holdings Limited, registered in England and Wales.