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Registered number: 13030034
Grove Site Services Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
James Khan
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13030034
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,160 3,063
5,160 3,063
CURRENT ASSETS
Debtors 237,028 254,717
Cash at bank and in hand 63,136 1,791
300,164 256,508
Creditors: Amounts Falling Due Within One Year (81,526 ) (130,629 )
NET CURRENT ASSETS (LIABILITIES) 218,638 125,879
TOTAL ASSETS LESS CURRENT LIABILITIES 223,798 128,942
Creditors: Amounts Falling Due After More Than One Year (145,800 ) (109,570 )
NET ASSETS 77,998 19,372
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 77,898 19,272
SHAREHOLDERS' FUNDS 77,998 19,372
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Russell Pearce
Director
Mr Graeson Clarke
Director
08/10/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Grove Site Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13030034 . The registered office is H2o Offices, 2-10 Holton Road, Barry, CF63 4HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 - 3,446 1,545 4,991
Additions 1,256 659 1,281 3,196
As at 31 August 2024 1,256 4,105 2,826 8,187
Depreciation
As at 1 September 2023 - 1,228 700 1,928
Provided during the period 26 582 491 1,099
As at 31 August 2024 26 1,810 1,191 3,027
Net Book Value
As at 31 August 2024 1,230 2,295 1,635 5,160
As at 1 September 2023 - 2,218 845 3,063
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
6. Related Party Transactions
At the balance sheet date the company owed £50,354 (2023 - £109,570) to Grove Autocare Limited. This amount is included within creditors falling due after more than one year.
At the balance sheet date the company owed £95,446 to CWC Holdco Limited. This amount is included within creditors falling due after more than one year.
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