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Registration number: 02867511

Grosvenor Exhibitions Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Grosvenor Exhibitions Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Grosvenor Exhibitions Limited

(Registration number: 02867511)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

5

256,204

262,774

Current assets

 

Debtors

6

381,050

381,798

Cash at bank and in hand

 

-

430

 

381,050

382,228

Creditors: Amounts falling due within one year

7

(4,533)

(18,993)

Net current assets

 

376,517

363,235

Total assets less current liabilities

 

632,721

626,009

Creditors: Amounts falling due after more than one year

7

(122,337)

(109,055)

Net assets

 

510,384

516,954

Capital and Reserves

 

Called up share capital

8

10

10

Retained Earnings

510,374

516,944

Shareholders' funds

 

510,384

516,954

For the financial 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.

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 3 October 2024
 

.........................................
Mr R Cooling
Director

 

Grosvenor Exhibitions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Albion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD
United Kingdom

These financial statements were authorised for issue by the director on 3 October 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Grosvenor Exhibitions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Freehold property

2% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

25% straight line

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

 

Grosvenor Exhibitions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

217,606

217,606

At 30 November 2023

217,606

217,606

Amortisation

At 1 December 2022

217,606

217,606

At 30 November 2023

217,606

217,606

Carrying amount

At 30 November 2023

-

-

5

Tangible Assets

Land and buildings
£

Total
£

Cost or valuation

At 1 December 2022

328,474

328,474

At 30 November 2023

328,474

328,474

Depreciation

At 1 December 2022

65,700

65,700

Charge for the year

6,570

6,570

At 30 November 2023

72,270

72,270

Carrying amount

At 30 November 2023

256,204

256,204

At 30 November 2022

262,774

262,774

Included within the net book value of land and buildings above is £256,204 (2022 - £262,774) in respect of freehold land and buildings.
 

6

Debtors

 

Grosvenor Exhibitions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

6

Debtors (continued)

Current

2023
£

2022
£

Other debtors

381,050

381,798

 

381,050

381,798

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

-

8,738

Taxation and social security

 

4,533

10,255

 

4,533

18,993

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

122,337

109,055

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

9

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

-

8,738

10

Related party transactions

 

Grosvenor Exhibitions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

10

Related party transactions (continued)

Transactions with the director

2023

At 1 December 2022
£

At 30 November 2023
£

Mr R Cooling

Mr R Cooling

303,848

303,848

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr R Cooling

Mr R Cooling

295,598

7,750

500

303,848