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Registration number: 08765586

The Groom's Room (Plymouth) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

The Groom's Room (Plymouth) Ltd

Contents

Statement of Financial Position

1

Statement of Changes in Equity

2

Notes to the Unaudited Financial Statements

3 to 7

 

The Groom's Room (Plymouth) Ltd

(Registration number: 08765586)
Statement of Financial Position as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

18

24

Current assets

 

Debtors

6

15,102

23,821

Cash at bank and in hand

 

4,493

15,152

 

19,595

38,973

Creditors: Amounts falling due within one year

7

(13,475)

(31,792)

Net current assets

 

6,120

7,181

Net assets

 

6,138

7,205

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

6,038

7,105

Shareholders' funds

 

6,138

7,205

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 


K J Palmer
Director

 

The Groom's Room (Plymouth) Ltd

Statement of Changes in Equity for the Year Ended 30 November 2023

Share capital
£

Profit and loss account
£

Total
£

At 1 December 2021

100

5,390

5,490

Profit for the year

-

4,815

4,815

Dividends

-

(3,100)

(3,100)

At 30 November 2022

100

7,105

7,205

Share capital
£

Profit and loss account
£

Total
£

At 1 December 2022

100

7,105

7,205

Loss for the year

-

(1,067)

(1,067)

At 30 November 2023

100

6,038

6,138

 

The Groom's Room (Plymouth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 Ridgeway Plympton
Plymouth
Devon
PL7 2HN

Principal activity

The company was dormant throughout the period.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a break up basis.

 

The Groom's Room (Plymouth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% straight line

Computer equipment

25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

 

The Groom's Room (Plymouth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

6

24

 

The Groom's Room (Plymouth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

1,549

342

1,891

At 30 November 2023

1,549

342

1,891

Depreciation

At 1 December 2022

1,525

342

1,867

Charge for the year

6

-

6

At 30 November 2023

1,531

342

1,873

Carrying amount

At 30 November 2023

18

-

18

At 30 November 2022

24

-

24

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

-

8,000

Other debtors

 

14,089

15,057

Income tax asset

1,013

764

 

15,102

23,821

 

The Groom's Room (Plymouth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Accruals and deferred income

1,310

-

Other creditors

12,165

31,792

13,475

31,792

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions

Loans to related parties

2023

Key management
£

Total
£

At start of period

(3,637)

(3,637)

At end of period

(3,637)

(3,637)

2022

Key management
£

Total
£

At start of period

(4,613)

(4,613)

Repaid

976

976

At end of period

(3,637)

(3,637)