2023-06-01 2024-05-31 02345508 Grosvenor Pumps Limited false 02345508 2023-06-01 2024-05-31 02345508 uk-bus:Director1 2023-06-01 2024-05-31 02345508 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 02345508 uk-bus:SmallEntities 2023-06-01 2024-05-31 02345508 uk-bus:FullAccounts 2023-06-01 2024-05-31 02345508 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02345508 2023-06-01 02345508 2024-05-31 02345508 2023-05-31 xbrli:pure iso4217:GBP 02345508 2022-06-01 2023-05-31
Company Registration Number : 02345508 (England and Wales)
02345508
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-05-31
false
Grosvenor Pumps Limited
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2023-06-01
Grosvenor Pumps Limited
Unaudited filleted financial statements
For the year ended 31 May 2024
Grosvenor Pumps Limited
Contents
For the year ended 31 May 2024

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 7


Grosvenor Pumps Limited
Company Information
For the year ended 31 May 2024

Company registration number 02345508 (England and Wales)
Directors David Handley
Company secretary David Handley
Registered office address Trevoole
Praze-An-Beeble
Camborne
Cornwall
TR14 0PJ
Accountant Kitchen and Brown Accountants Ltd
40 Coinagehall Street
Helston
Cornwall
TR13 8EQ
Grosvenor Pumps Limited
Statement of Financial Position
For the year ended 31 May 2024

2024 2023
Notes £ £
Fixed assets
Property, plant and equipment 47,057 47,658
47,057 47,658
Current assets
Inventories 5 108,710 94,810
Debtors 6 54,558 59,480
Cash and cash equivalents 5,922 14,037
169,190 168,328
Current liabilities
Creditors: Amounts falling due within one year 7 (39,523) (45,561)
Corporation tax payable (1,434) (687)
(40,957) (46,248)
Net current assets/(liabilities) 128,233 122,079
Total assets less current liabilities 175,290 169,737
Non-current liabilities
Provision for liabilities 8 (11,092) (10,616)
Net assets/(liabilities) 164,199 159,121
Capital and reserves
Called up share capital 9 40,000 40,000
Revaluation reserve 32,000 32,000
Retained earnings 92,199 87,121
Shareholder's funds 164,199 159,121
For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 21 February 2025
.............................
David Handley (Director)
Company registration number: 02345508
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2024-05-31 31 May 2024
2024 2023
£ £
Fixed Assets 47,057 47,658
Current Assets 169,190 168,328
Creditors: amounts falling due within one year (40,957) (46,248)
Net current assets (liabilities) 128,233 122,079
Total assets less current liabilities 175,290 169,737
Provisions for liabilities (11,092) (10,616)
Net Assets (liabilities) 164,199 159,121
Capital and Reserves 164,199 159,121
For the year ending 31/05/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 31-05-2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 21 February 2025 2025-02-24 and signed on behalf of the board,
.............................
David Handley
Director
Company registration number: 02345508
Grosvenor Pumps Limited
Notes to the Financial Statements
For the year ended 31 May 2024

(1) General Information
The company is a private company limited by shares and is registered in England and Wales, registration number 02345508. The address of the registered office is Trevoole, Praze-An-Beeble, Camborne, Cornwall, TR14 0PJ.

(2) Significant Accounting Policies
Basis of Preparation
The financial statements are prepared under the historical cost convention and in accordance with FRS 102 Section 1A
Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation and functional currency of the company is the Pound sterling (£). The financial statements are presented in pound sterling (£) unless stated otherwise.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, valued added tax and other sales taxes.
Property, plant and equipment
At each reporting date the company reviews the carrying value of its assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. Where the recoverable amount of an asset is less than the carrying amount, an impairment loss is recognised immediately in the Income Statement. Impairment losses are reversed in a subsequent period if, and only if, the reasons for the impairment loss have ceased to apply.

Revaluation gains and losses are charged to other comprehensive income and accumulated in the revaluation reserve in equity. Revaluation losses are charged to other comprehensive income only to the extent that they reverse any previous gains in the revaluation reserve. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess is recognised in profit or loss. If the revaluation has resulted in the carrying value increasing, this is recognised in other comprehensive income and accumulated in equity. However the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss.

Depreciation is charged so as to allocate the cost of an asset, less its estimated residual value, over its estimated useful life as follows:
Asset class and depreciation rate
Land and Buildings10% reducing balance
Plant and Machinery1% reducing balance
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings
Equipment
Motor Cars
Stocks and Work in Progress
Stocks and work in progress are measured at the lower of cost and net realisable value after making due allowance for obsolete and slow ­moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as
contract activity progresses.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the Income Statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or
substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except where they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Grants
Capital grants are treated as deferred credits and credited to the Income Statement over the estimated useful life of the relevant asset. Revenue grants are recognised in the income statement so as to match the expenditure to which they relate.

(3) Employees
During the year, the average number of employees including director was 1 (2023 : 1).

(4) Tangible fixed assets
Land and BuildingsPlant and MachineryTotals
£££
Cost
As at 01 June 20231,41553,62455,039
As at 31 May 20241,41553,62455,039
Depreciation
As at 01 June 2023387,3437,381
For the year138463601
As at 31 May 20241767,8067,982
Net book value
As at 31 May 20241,23945,81847,057
As at 31 May 20231,37746,28147,658

(5) Inventories
2024 2023
£ £
Stock Materials and Work in Progress 108,710 94,810
108,710 94,810

(6) Debtors
Amounts falling due within one year
2024 2023
£ £
Trade debtors 31,529 25,051
Other debtors 23,029 34,429
54,558 59,480

(7) Creditors: Amounts falling due within one year
2024 2023
£ £
Trade creditors 10,328 14,741
Other taxes and social security 702 250
Other creditors 28,493 30,571
39,523 45,562

(8) Provision for liabilities
2024 2023
£ £
Other provisions 2,392 2,416
Deferred taxation 8,700 8,200
11,092 10,616

(9) Share capital and reserves
Alloted, called up and fully paid: 2024 2023
£ £
40,000 (2023 : 40,000) Ordinary of £ 1 each40,00040,000
40,000 40,000
The balance on the Revaluation Reserve at 31 May 2024 was £32,000 (2023 : £32,000)
Retained earnings 2024
£
At 1 June 2023 87,121
Profit of the year 5,078
At 31 May 2024 92,199
Retained earnings
Called up and fully paid:
Retained earnings 2024
£
At 1 June 2023 87,121
Profit of the year 5,078
At 31 May 2024 92,199

(10) Tangible Assets
If an item of plant and machinery had not been revalued it would have been included at an historical cost value of £80,374 (2023: £80,374). Aggregate depreciation would have been £80,374 (2023: £80,374). The revaluation took place in 2009.

At 31 May 2024 tangible assets included assets at cost of £23,039 and assets at valuation of £32,000 (2023: assets at cost of £23,038 and assets at valuation of £32,000)

(11) Stock of materials and work in progress
At 31 May 2024 the company held a stock of materials amounting to £108,710 (2023: £94,810).