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Registered number: 03981134










BARR & GROSVENOR LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
BARR & GROSVENOR LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
BARR & GROSVENOR LIMITED
REGISTERED NUMBER: 03981134

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,202
20,182

  
16,202
20,182

Current assets
  

Stocks
  
22,062
1,336

Debtors: amounts falling due within one year
 5 
140,134
170,932

  
162,196
172,268

Creditors: amounts falling due within one year
 6 
(221,023)
(166,917)

Net current (liabilities)/assets
  
 
 
(58,827)
 
 
5,351

Total assets less current liabilities
  
(42,625)
25,533

Creditors: amounts falling due after more than one year
 7 
(248,168)
(206,516)

  

Net liabilities
  
(290,793)
(180,983)


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
(300,793)
(190,983)

  
(290,793)
(180,983)


Page 1

 
BARR & GROSVENOR LIMITED
REGISTERED NUMBER: 03981134
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers 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 director acknowledges his 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 comprehensive income 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: 




Mr D. J. Grosvenor
Director

Date: 25 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BARR & GROSVENOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Barr & Grosvenor Limited (the company) is a private company, limited by shares, incorporated and domiciled in England. The address of the registered office is Jenner Street, Wolverhampton, WV2 2AE and this address is also the principal place of business.

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

Going concern

The company is dependent upon a loan from the director, who has indicated that he will continue to provide the financial support necessary to enable the company to continue in operational existence for the forseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

 
2.3

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.

 
2.4

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.

Page 3

 
BARR & GROSVENOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
20%
reducing balance

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 profit or loss.

 
2.5

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 first in, first out 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 profit or loss.

 
2.6

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.

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

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.

 
2.9

Finance costs

Finance costs are charged to profit or loss 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.

Page 4

 
BARR & GROSVENOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss 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.

 
2.11

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 the Statement of comprehensive income 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.  

 
2.12

Taxation

Tax is recognised in profit or loss 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 14).

Page 5

 
BARR & GROSVENOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
219,311
39,530
13,713
272,554



At 30 June 2024

219,311
39,530
13,713
272,554



Depreciation


At 1 July 2023
208,780
30,150
13,442
252,372


Charge for the year on owned assets
1,580
2,345
55
3,980



At 30 June 2024

210,360
32,495
13,497
256,352



Net book value



At 30 June 2024
8,951
7,035
216
16,202



At 30 June 2023
10,531
9,380
271
20,182


5.


Debtors

2024
2023
£
£


Trade debtors
81,889
122,068

Other debtors
26,756
18,456

Prepayments and accrued income
31,489
30,408

140,134
170,932


Page 6

 
BARR & GROSVENOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
50,359
46,989

Bank loan
8,221
8,017

Trade creditors
82,345
46,094

Other taxation and social security
68,529
48,848

Other creditors
147
5,925

Accruals and deferred income
11,422
11,044

221,023
166,917


The following liabilities were secured:

2024
2023
£
£



Bank overdraft
50,359
46,989

Bank loan
8,221
8,017

58,580
55,006

Details of security provided:

The bank overdraft is secured by personal guarantees from the director and his wife.
The bank loan is secured by a government guarantee.

Page 7

 
BARR & GROSVENOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
7,675
15,169

Other creditors
240,493
191,347

248,168
206,516


The following liabilities were secured:

2024
2023
£
£



Bank loan
7,675
15,169

Details of security provided:

The bank loan is secured by a government guarantee.

The bank loan is repayable by instalments over a six year period at an interest rate of 2.5% per annum.


8.


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 £2,732 (2023: £3,654). 
The balance owed to the pension fund at the year end amounted to £147 (2023: £99).


9.


Commitments under operating leases

At 30 June 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
36,000
36,000

 
Page 8