REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2025 |
for |
Grove Goodman Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2025 |
for |
Grove Goodman Limited |
Grove Goodman Limited (Registered number: 13192513) |
Contents of the Financial Statements |
for the Year Ended 28 February 2025 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Grove Goodman Limited |
Company Information |
for the Year Ended 28 February 2025 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
114-120 Northgate Street |
Chester |
CH1 2HT |
Grove Goodman Limited (Registered number: 13192513) |
Statement of Financial Position |
28 February 2025 |
28/2/25 | 29/2/24 |
Notes | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Provisions for liabilities | 8 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Other reserves | 10 |
Retained earnings | 10 |
Shareholders' funds |
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. |
Grove Goodman Limited (Registered number: 13192513) |
Statement of Financial Position - continued |
28 February 2025 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Grove Goodman Limited (Registered number: 13192513) |
Notes to the Financial Statements |
for the Year Ended 28 February 2025 |
1. | Statutory information |
Grove Goodman Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. |
Revenue from property rental is recognised on an accruals basis. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
Grove Goodman Limited (Registered number: 13192513) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2025 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
3. | Employees and directors |
The average number of employees during the year was NIL (2024 - NIL). |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 March 2024 |
and 28 February 2025 |
Depreciation |
At 1 March 2024 |
Charge for year |
At 28 February 2025 |
Net book value |
At 28 February 2025 |
At 29 February 2024 |
Grove Goodman Limited (Registered number: 13192513) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2025 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 March 2024 |
and 28 February 2025 |
Net book value |
At 28 February 2025 |
At 29 February 2024 |
Fair value at 28 February 2025 is represented by: |
£ |
Valuation in 2022 | 110,000 |
6. | Creditors: amounts falling due within one year |
28/2/25 | 29/2/24 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
28/2/25 | 29/2/24 |
£ | £ |
Other creditors |
8. | Provisions for liabilities |
28/2/25 | 29/2/24 |
£ | £ |
Deferred tax |
Investment property revaluation | 1,624 | 1,624 |
Deferred |
tax |
£ |
Balance at 1 March 2024 |
Balance at 28 February 2025 |
Grove Goodman Limited (Registered number: 13192513) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2025 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28/2/25 | 29/2/24 |
value: | £ | £ |
Ordinary A | £1 | 100 | 100 |
Ordinary B | £1 | 100 | 100 |
200 | 200 |
10. | Reserves |
Under FRS 102 surpluses on the revaluation of investment property are treated as fair value adjustments and are recognised in the statement of income. However under company law, these surpluses are not distributable. In these financial statements, the cumulative revaluation surpluses have been included in other reserves under profit and loss - not distributable. On disposal of an investment property, any revaluation surplus realised on disposal is transferred to distributable reserves. |
11. | Related party disclosures |
The directors have made loans to the company. At 28 February 2025 the aggregate balance on these loans was £ repayable on demand. |