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REGISTERED NUMBER: 02718664 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

GROSVENOR ASSOCIATES CORPORATION LIMITED

GROSVENOR ASSOCIATES CORPORATION LIMITED (REGISTERED NUMBER: 02718664)






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


GROSVENOR ASSOCIATES CORPORATION LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: R Harmon
S R Allen FCA





SECRETARY: S R Allen FCA





REGISTERED OFFICE: Priory Tec Park
Saxon Way
Hessle
HU13 9PB





REGISTERED NUMBER: 02718664 (England and Wales)





ACCOUNTANTS: Stephen R Allen & Co
Unit 11
Priory Tec Park
Saxon Way
Hessle
East Yorkshire
HU13 9PB

GROSVENOR ASSOCIATES CORPORATION LIMITED (REGISTERED NUMBER: 02718664)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 122,747 124,301

CURRENT ASSETS
Stocks 623,258 530,676
Debtors 5 962,128 1,042,151
Cash at bank and in hand 1,196,149 774,920
2,781,535 2,347,747
CREDITORS
Amounts falling due within one year 6 1,401,949 1,093,447
NET CURRENT ASSETS 1,379,586 1,254,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,502,333

1,378,601

CREDITORS
Amounts falling due after more than one year 7 (19,087 ) (20,810 )

PROVISIONS FOR LIABILITIES (23,610 ) (16,182 )
NET ASSETS 1,459,636 1,341,609

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Share premium 5,900 5,900
Retained earnings 1,452,636 1,334,609
SHAREHOLDERS' FUNDS 1,459,636 1,341,609

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.

GROSVENOR ASSOCIATES CORPORATION LIMITED (REGISTERED NUMBER: 02718664)

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 15 July 2024 and were signed on its behalf by:





R Harmon - Director


GROSVENOR ASSOCIATES CORPORATION LIMITED (REGISTERED NUMBER: 02718664)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Grosvenor Associates Corporation 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 5 years and 3 years

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.

GROSVENOR ASSOCIATES CORPORATION LIMITED (REGISTERED NUMBER: 02718664)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 38,150 428,531 466,681
Additions - 38,755 38,755
Disposals - (49,060 ) (49,060 )
At 31 May 2024 38,150 418,226 456,376
DEPRECIATION
At 1 June 2023 38,150 304,230 342,380
Charge for year - 40,307 40,307
Eliminated on disposal - (49,058 ) (49,058 )
At 31 May 2024 38,150 295,479 333,629
NET BOOK VALUE
At 31 May 2024 - 122,747 122,747
At 31 May 2023 - 124,301 124,301

GROSVENOR ASSOCIATES CORPORATION LIMITED (REGISTERED NUMBER: 02718664)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 32,190
DEPRECIATION
At 1 June 2023 671
Charge for year 8,052
At 31 May 2024 8,723
NET BOOK VALUE
At 31 May 2024 23,467
At 31 May 2023 31,519

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 944,906 1,021,008
Other debtors 17,222 21,143
962,128 1,042,151

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 1,723 1,723
Trade creditors 307,237 299,541
Taxation and social security 387,834 217,810
Other creditors 705,155 574,373
1,401,949 1,093,447

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 19,087 20,810

GROSVENOR ASSOCIATES CORPORATION LIMITED (REGISTERED NUMBER: 02718664)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 20,810 22,533

The hire purchase loans are secured on the asset held.

9. ULTIMATE CONTROLLING PARTY

Harlen Limited a company incorporated in England holds 100% of the issued share capital of the company and is the ultimate controlling party.