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Company Registration No. 4685395 (England and Wales)
Groovy Limited Unaudited accounts for the year ended 31 March 2024
Groovy Limited Unaudited accounts Contents
Page
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Groovy Limited Company Information for the year ended 31 March 2024
Director
Ivan James Hodges
Company Number
4685395 (England and Wales)
Registered Office
New Court, Cowbridge Rd Llantwit Major CF61 2YS United Kingdom
Accountants
A40infobahn Limited Bron Haul Penlan Road CARMARTHEN Carmarthenshire SA31 1DN
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Groovy Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
5,000 
7,500 
Tangible assets
188,899 
189,166 
Investments
501 
501 
194,400 
197,167 
Current assets
Debtors
62,777 
66,077 
Cash at bank and in hand
8,368 
1,263 
71,145 
67,340 
Creditors: amounts falling due within one year
(86,201)
(93,153)
Net current liabilities
(15,056)
(25,813)
Net assets
179,344 
171,354 
Capital and reserves
Called up share capital
358,505 
354,641 
Revaluation reserve
7,659 
7,659 
Profit and loss account
(186,820)
(190,946)
Shareholders' funds
179,344 
171,354 
For the year ending 31 March 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 June 2024 and were signed on its behalf by
Ivan James Hodges Director Company Registration No. 4685395
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Groovy Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Groovy Limited is a private company, limited by shares, registered in England and Wales, registration number 4685395. The registered office is New Court,, Cowbridge Rd, Llantwit Major, CF61 2YS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33%
Fixtures & fittings
10%
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
7,500 
At 31 March 2024
7,500 
Amortisation
At 1 April 2023
- 
Charge for the year
2,500 
At 31 March 2024
2,500 
Net book value
At 31 March 2024
5,000 
At 31 March 2023
7,500 
Intangible Assets are written off over their estimated useful life.
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Groovy Limited Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
188,500 
15,938 
544 
204,982 
At 31 March 2024
188,500 
15,938 
544 
204,982 
Depreciation
At 1 April 2023
- 
15,430 
386 
15,816 
Charge for the year
- 
250 
17 
267 
At 31 March 2024
- 
15,680 
403 
16,083 
Net book value
At 31 March 2024
188,500 
258 
141 
188,899 
At 31 March 2023
188,500 
508 
158 
189,166 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 April 2023
501 
Valuation at 31 March 2024
501 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
610 
6,976 
Trade debtors
8,685 
- 
Amounts due from group undertakings etc.
40,736 
40,736 
Other debtors
12,746 
18,365 
62,777 
66,077 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
2,097 
32 
Amounts owed to group undertakings and other participating interests
80,143 
85,721 
Taxes and social security
- 
(1,490)
Loans from directors
3,961 
3,890 
Accruals
- 
5,000 
86,201 
93,153 
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Groovy Limited Notes to the Accounts for the year ended 31 March 2024
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
140,005 Ordinary shares A of £1 each
140,005 
140,005 
218,500 Ordinary Shares B of £1 each
218,500 
199,500 
- Ordinary Shares C of £1 each
- 
15,136 
- Class C shares were redeemed by conversion to Class B Shares. of £1 each
- 
- 
358,505 
354,641 
Shares issued during the period:
19,000 Ordinary Shares B of £1 each
19,000 
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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