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REGISTERED NUMBER: 08293173 (England and Wales)
























GROOME & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






GROOME & SONS LIMITED (REGISTERED NUMBER: 08293173)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


GROOME & SONS LIMITED (REGISTERED NUMBER: 08293173)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,075 31,343

CURRENT ASSETS
Stocks 15,750 18,000
Debtors 5 58,048 85,312
73,798 103,312
CREDITORS
Amounts falling due within one year 6 60,451 89,037
NET CURRENT ASSETS 13,347 14,275
TOTAL ASSETS LESS CURRENT LIABILITIES 38,422 45,618

CREDITORS
Amounts falling due after more than one
year

7

37,505

44,359
NET ASSETS 917 1,259

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 817 1,159
917 1,259

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:



S Groome - Director


GROOME & SONS LIMITED (REGISTERED NUMBER: 08293173)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Groome & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08293173

Registered office: 6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD

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 historical cost convention.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

GROOME & SONS LIMITED (REGISTERED NUMBER: 08293173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 3,477 32,190 35,667
DEPRECIATION
At 1 September 2023 3,251 1,073 4,324
Charge for year 45 6,223 6,268
At 31 August 2024 3,296 7,296 10,592
NET BOOK VALUE
At 31 August 2024 181 24,894 25,075
At 31 August 2023 226 31,117 31,343

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 58,048 85,312

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 26,737 24,338
Hire purchase contracts 7,243 7,243
Trade creditors 10,512 35,741
Taxation and social security 14,521 18,839
Other creditors 1,438 2,876
60,451 89,037

GROOME & SONS LIMITED (REGISTERED NUMBER: 08293173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 24,830 24,441
Hire purchase contracts 12,675 19,918
37,505 44,359

8. RELATED PARTY DISCLOSURES

During the year, Mr and Mrs Groome (Directors) were loaned money by the company with no set repayment date. At the year end the amount due to the company from the director was £39,973 (2023:£63,222).

9. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr and Mrs Groome, who holds 99% shares of the ordinary issued share capital.