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Registered Number: 07555619
England and Wales

 

 

 

GROVERS OF BOROUGH MARKET LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Accounts and Taxation Limited
31 March 2024



....................................................

Accounts and Taxation Limited

152 Kingsnorth Road
Ashford
Kent
TN23 6HY
13 September 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 94,047    29,877 
94,047    29,877 
Current assets      
Stocks 15,000    15,000 
Debtors: amounts falling due within one year 81,363    91,133 
Debtors: amounts falling due after one year 4,375    (2,974)
Cash at bank and in hand 18,748    69,328 
119,486    172,487 
Creditors: amount falling due within one year (41,245)   (52,893)
Net current assets 78,241    119,594 
 
Total assets less current liabilities 172,288    149,471 
Creditors: amount falling due after more than one year (3,000)   (3,000)
Provisions for liabilities (1,369)   (1,279)
Net assets 167,919    145,192 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 167,909    145,182 
Shareholders' funds 167,919    145,192 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 13 September 2024 and were signed by:


-------------------------------
Steven Grover
Director
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General Information
Grovers of Borough Market Limited is a private company, limited by shares, registered in England and Wales, registration number 07555619, registration address 64 Borough Market, Borough High Street, London, SE1 9AH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 4 years Straight Line
Motor Vehicles 4 years Straight Line
Computer Equipment 4 years Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Intangible fixed assets

Cost Goodwill 6 years   Total
  £   £
At 01 April 2023 30,682    30,682 
Additions  
Disposals  
At 31 March 2024 30,682    30,682 
Amortisation
At 01 April 2023 30,682    30,682 
Charge for year  
On disposals  
At 31 March 2024 30,682    30,682 
Net book values
At 31 March 2024  
At 31 March 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2023 45,833    140,374    6,781    20,907    213,895 
Additions   82,635      1,307    83,942 
Disposals   (16,699)       (16,699)
At 31 March 2024 45,833    206,310    6,781    22,214    281,138 
Depreciation
At 01 April 2023 45,833    113,504    6,098    18,583    184,018 
Charge for year   17,983    173    1,616    19,772 
On disposals   (16,699)       (16,699)
At 31 March 2024 45,833    114,788    6,271    20,199    187,091 
Net book values
Closing balance as at 31 March 2024   91,522    510    2,015    94,047 
Opening balance as at 01 April 2023   26,870    683    2,324    29,877 


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