Company registration number: 05714504
Unaudited financial statements
for the period ended 28 February 2024
for
Grove Property (Wales) Limited
Pages for filing with the Registrar
Company registration number: 05714504
Grove Property (Wales) Limited
Balance sheet
as at 28 February 2024
28 Feb 24 28 Feb 23
Note £ £ £ £
Fixed assets
Tangible assets 4 - 407
- 407
Current assets
Stocks 6,843 52,005
Cash at bank and in hand 30,937 56,534
37,780 108,539
Creditors: amounts falling due within
one year
(76,605) (117,693)
Net current liabilities (38,825) (9,154)
Total assets less current liabilities (38,825) (8,747)
NET LIABILITIES (38,825) (8,747)
Capital and reserves
Called up share capital 501 501
Profit and loss account (39,326) (9,248)
TOTAL EQUITY (38,825) (8,747)
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the period ended 28 February 2024.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 05714504
Grove Property (Wales) Limited
Balance sheet - continued
as at 28 February 2024
The 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 21 November 2024 and signed on its behalf by:
Mr A Grove, Director
21 November 2024
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Grove Property (Wales) Limited
Notes to the financial statements
for the period ended 28 February 2024
1 Company information
Grove Property (Wales) Limited is a private company registered in England and Wales. Its registered number is 05714504. The company is limited by shares. Its registered office is Riverside, Llanrhidian, Swansea, West Glamorgan, SA3 1ER.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 25% straight line
Fixtures & fittings - 25% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
3 Average number of employees
During the period the average number of employees was 2 (2023 - 2).
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Grove Property (Wales) Limited
Notes to the financial statements - continued
for the period ended 28 February 2024
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 March 2023 5,078
At 28 February 2024 5,078
Depreciation
At 1 March 2023 4,671
Charge for period 407
At 28 February 2024 5,078
Net book value
At 28 February 2024 -
At 28 February 2023 407
5 Advances, credit and guarantees granted to directors
The following advances and credits to directors subsisted during the periods ended 28 February 2024 and 28 February 2023.
28 Feb 24 28 Feb 23
£ £
Mrs Christine Grove
Balance outstanding at start of period 1,485 5,939
Amounts repaid (1,485) (4,454)
Balance outstanding at end of period - 1,485
28 Feb 24 28 Feb 23
£ £
Mr Alan Paul Grove
Balance outstanding at start of period 115,895 71,209
Amounts advanced - 44,686
Amounts repaid (40,590) -
Balance outstanding at end of period 75,305 115,895
6 Controlling party
The company is a close company and is under the 100% control of the Director, Mr Paul Grove
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