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REGISTERED NUMBER: 03968013 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

GRUBS BOOTS LIMITED

GRUBS BOOTS LIMITED (REGISTERED NUMBER: 03968013)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRUBS BOOTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: D Foster
J M Foster



SECRETARY: Mrs J M Foster



REGISTERED OFFICE: Unit 3, Bradshaw Works
Printers Lane
Bradshaw
Bolton
Lancashire
BL2 3DW



REGISTERED NUMBER: 03968013 (England and Wales)



ACCOUNTANTS: P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ



BANKERS: HSBC Bank plc
25 Deansgate
Bolton
Lancashire
BL1 1HG

GRUBS BOOTS LIMITED (REGISTERED NUMBER: 03968013)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 22,966 29,855
Investments 6 40,000 40,000
62,966 69,855

CURRENT ASSETS
Stocks 1,060,955 1,101,930
Debtors 7 268,498 396,175
Cash at bank and in hand 414,310 277,978
1,743,763 1,776,083
CREDITORS
Amounts falling due within one year 8 1,666,101 1,625,151
NET CURRENT ASSETS 77,662 150,932
TOTAL ASSETS LESS CURRENT
LIABILITIES

140,628

220,787

CREDITORS
Amounts falling due after more than one
year

9

(48,226

)

(78,126

)

PROVISIONS FOR LIABILITIES - (849 )
NET ASSETS 92,402 141,812

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 92,302 141,712
SHAREHOLDERS' FUNDS 92,402 141,812

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

GRUBS BOOTS LIMITED (REGISTERED NUMBER: 03968013)

BALANCE SHEET - continued
31 MAY 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 Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:




D Foster - Director



J M Foster - Director


GRUBS BOOTS LIMITED (REGISTERED NUMBER: 03968013)

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

1. STATUTORY INFORMATION

Grubs Boots Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% 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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

GRUBS BOOTS LIMITED (REGISTERED NUMBER: 03968013)

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

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 44,942 34,000 78,942
DEPRECIATION
At 1 June 2023 39,194 9,893 49,087
Charge for year 862 6,027 6,889
At 31 May 2024 40,056 15,920 55,976
NET BOOK VALUE
At 31 May 2024 4,886 18,080 22,966
At 31 May 2023 5,748 24,107 29,855

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 June 2023
and 31 May 2024 40,000
NET BOOK VALUE
At 31 May 2024 40,000
At 31 May 2023 40,000

The unlisted investment is a 50% shareholding of Worklite Limited a company registered in England and Wales whose principal activity is that of footwear distribution.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 184,074 311,699
Other debtors 52,483 52,483
Prepayments and accrued income 31,941 31,993
268,498 396,175

GRUBS BOOTS LIMITED (REGISTERED NUMBER: 03968013)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 24,000 24,000
Hire purchase contracts 5,900 5,900
Trade creditors 1,247,790 1,322,966
Amounts owed to group undertakings 1,289 1,289
Tax - 11,075
Social security and other taxes 3,346 1,777
VAT 350,953 254,614
Directors current account 887 490
Accruals and deferred income 31,936 3,040
1,666,101 1,625,151

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 32,001 48,001
Bank loans - 2-5 years - 8,000
Hire purchase contracts 16,225 22,125
48,226 78,126

10. RELATED PARTY DISCLOSURES

The company is a subsidiary company of Ion Holdings Limited, in which directors D Foster and Mrs J Foster are materially interested as directors and shareholders.

The parent company has charged £22,561.50 (2023 - £52,934) for the use of trademarks. Included within creditors due within one year is £29,496 (2023 - £42,934) owed to Ion Holdings Limited in respect of these charges.

Included wtihin trade creditors is £704,000 (2023 - £704,000) that was an amount owed to Ion Associates (Far East) Limited that has been assigned as a trading balance to Ion Holdings Limited.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Ion Holdings Limited which is controlled by the director shareholders D Foster and Mrs J Foster.