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GROVES AND GROVES LIMITED

Registered Number
13240699
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

GROVES AND GROVES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

GROVES, Andrew, Dr
GROVES, Emma, Dr

Registered Address

289 Otley Road
Weetwood
Leeds
LS16 5LN

Registered Number

13240699 (England and Wales)
GROVES AND GROVES LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3674,242674,242
Tangible assets475,14130,871
749,383705,113
Current assets
Stocks59,48810,000
Debtors12,69912,948
Cash at bank and on hand169,218116,055
191,405139,003
Creditors amounts falling due within one year6(474,262)(452,214)
Net current assets (liabilities)(282,857)(313,211)
Total assets less current liabilities466,526391,902
Creditors amounts falling due after one year7(287,411)(288,340)
Provisions for liabilities8(14,069)(416)
Net assets165,046103,146
Capital and reserves
Called up share capital200200
Profit and loss account164,846102,946
Shareholders' funds165,046103,146
The financial statements were approved and authorised for issue by the Board of Directors on 3 January 2025, and are signed on its behalf by:
GROVES, Andrew, Dr
Director
GROVES, Emma, Dr
Director

Registered Company No. 13240699
GROVES AND GROVES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Functional and presentation currency
The financial statements are presented in sterling, which is the functional currency of the entity.
Going concern
Following the challenges arising as a consequence of the Covid-19 pandemic in 2020/21, more latterly the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company’s trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Revenue from sale of goods
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year end date is recognised by reference to the state of completion.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted, or substantively enacted, by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Reducing balance (%)
Plant and machinery20
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Stocks and work in progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing the stock to its present location and condition.
2.Average number of employees

20242023
Average number of employees during the year2322
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 23674,242674,242
At 31 March 24674,242674,242
Net book value
At 31 March 24674,242674,242
At 31 March 23674,242674,242
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 2335,460-35,460
Additions61,6871,46163,148
At 31 March 2497,1471,46198,608
Depreciation and impairment
At 01 April 234,589-4,589
Charge for year18,51336518,878
At 31 March 2423,10236523,467
Net book value
At 31 March 2474,0451,09675,141
At 31 March 2330,871-30,871
5.Stocks

2024

2023

££
Raw materials and consumables9,48810,000
Total9,48810,000
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables25,10921,888
Bank borrowings and overdrafts352,021375,874
Taxation and social security75,95851,039
Finance lease and HP contracts18,1441,764
Accrued liabilities and deferred income3,0301,649
Total474,262452,214
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts287,411288,340
Total287,411288,340
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)14,069416
Total14,069416
9.Related party transactions
During the year the directors made available a loan to the company. The loan was interest free and repayable upon demand. The balance at the year end was £324,729 (£344,214 - 2023).