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REGISTERED NUMBER: NI049777 (Northern Ireland)















GROVE BUILDERS LTD

Unaudited Financial Statements for the Year Ended 31 July 2024






GROVE BUILDERS LTD (REGISTERED NUMBER: NI049777)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GROVE BUILDERS LTD

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: John Keenan





REGISTERED OFFICE: 60 Brough Road
Castledawson
Magherafelt
Co. Londonderry
BT45 8ER





REGISTERED NUMBER: NI049777 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

GROVE BUILDERS LTD (REGISTERED NUMBER: NI049777)

Statement of Financial Position
31 JULY 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 183,891 168,152

CURRENT ASSETS
Inventories 5,733 3,150
Receivables 6 120,779 85,444
Cash at bank 111,685 140,588
238,197 229,182
PAYABLES
Amounts falling due within one year 7 (161,660 ) (154,883 )
NET CURRENT ASSETS 76,537 74,299
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,428

242,451

PAYABLES
Amounts falling due after more than
one year

8

(18,790

)

(39,186

)

PROVISIONS FOR LIABILITIES (33,078 ) (6,497 )
NET ASSETS 208,560 196,768

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 208,558 196,766
SHAREHOLDERS' FUNDS 208,560 196,768

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

GROVE BUILDERS LTD (REGISTERED NUMBER: NI049777)

Statement of Financial Position - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





John Keenan - Director


GROVE BUILDERS LTD (REGISTERED NUMBER: NI049777)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Grove Builders Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Plant and machinery - 10% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GROVE BUILDERS LTD (REGISTERED NUMBER: NI049777)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

3. ACCOUNTING POLICIES - continued

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.

Share capital of the company
Ordinary share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 August 2023 54,819 134,106 49,522 70,652 309,099
Additions - 2,632 2,016 41,000 45,648
At 31 July 2024 54,819 136,738 51,538 111,652 354,747
DEPRECIATION
At 1 August 2023 - 75,779 43,540 21,628 140,947
Charge for year - 8,381 1,775 19,753 29,909
At 31 July 2024 - 84,160 45,315 41,381 170,856
NET BOOK VALUE
At 31 July 2024 54,819 52,578 6,223 70,271 183,891
At 31 July 2023 54,819 58,327 5,982 49,024 168,152

6. RECEIVABLES
2024 2023
£ £
Trade receivables 106,876 71,053
Other receivables 13,903 14,391
120,779 85,444

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 15,641 15,640
Hire purchase contracts 7,428 8,328
Trade payables 3,119 4,132
Taxation and social security 25,289 29,040
Other payables 110,183 97,743
161,660 154,883

GROVE BUILDERS LTD (REGISTERED NUMBER: NI049777)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

8. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Bank loans 14,340 28,208
Hire purchase contracts 4,450 10,978
18,790 39,186

9. SECURED DEBTS

Hire purchase liabilities are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary £1 2 2

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end a balance of £2,857 was owed by the director by the company. (2023 - £3,821 owed by the director to the company).