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Registered number: 05895559
Groom Design Services Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Kingfisher Accountants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05895559
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,328,993 502,507
1,328,993 502,507
CURRENT ASSETS
Debtors 5 150,693 372,125
Cash at bank and in hand 243,848 546,412
394,541 918,537
Creditors: Amounts Falling Due Within One Year 6 (467,485 ) (610,727 )
NET CURRENT ASSETS (LIABILITIES) (72,944 ) 307,810
TOTAL ASSETS LESS CURRENT LIABILITIES 1,256,049 810,317
Creditors: Amounts Falling Due After More Than One Year 7 (453,803 ) (128,967 )
NET ASSETS 802,246 681,350
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 802,146 681,250
SHAREHOLDERS' FUNDS 802,246 681,350
Page 1
Page 2
For the year ending 31 August 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 responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Groom
Director
17/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Groom Design Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05895559 . The registered office is Unit 12 Enterprise Court, Farfield Park, Manvers, Rotherham, S63 5DB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold N/A
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year 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 asset 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 when they related 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 15)
14 15
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 September 2023 346,230 25,821 327,323 10,703
Additions 825,780 - 89,249 -
Disposals - - (108,495 ) -
As at 31 August 2024 1,172,010 25,821 308,077 10,703
Depreciation
As at 1 September 2023 - 23,899 190,110 5,306
Provided during the period - 534 41,603 1,486
Disposals - - (66,780 ) -
As at 31 August 2024 - 24,433 164,933 6,792
Net Book Value
As at 31 August 2024 1,172,010 1,388 143,144 3,911
As at 1 September 2023 346,230 1,922 137,213 5,397
Computer Equipment Total
£ £
Cost
As at 1 September 2023 19,320 729,397
Additions - 915,029
Disposals - (108,495 )
As at 31 August 2024 19,320 1,535,931
Depreciation
As at 1 September 2023 7,575 226,890
Provided during the period 3,205 46,828
Disposals - (66,780 )
As at 31 August 2024 10,780 206,938
Net Book Value
As at 31 August 2024 8,540 1,328,993
As at 1 September 2023 11,745 502,507
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 148,534 372,125
Prepayments and accrued income 2,159 -
150,693 372,125
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 79,449 97,023
Trade creditors 81,717 183,944
Bank loans and overdrafts 109,569 49,478
Corporation tax 91,860 147,888
Other taxes and social security 11,731 17,634
VAT 63,611 91,794
Other creditors 28,309 22,914
Accruals and deferred income 1,239 52
467,485 610,727
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 56,004 87,378
Bank loans 397,799 41,589
453,803 128,967
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 79,449 97,023
Later than one year and not later than five years 56,004 87,378
135,453 184,401
135,453 184,401
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5