Company registration number 00852961 (England and Wales)
RON GRUNDY (MELBOURNE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
RON GRUNDY (MELBOURNE) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
RON GRUNDY (MELBOURNE) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,357,507
2,339,121
Investments
5
2,168,220
1,898,937
4,525,727
4,238,058
Current assets
Stocks
432,629
368,081
Debtors
6
558,719
1,187,438
Cash at bank and in hand
2,087,588
2,291,361
3,078,936
3,846,880
Creditors: amounts falling due within one year
7
(1,089,727)
(1,127,751)
Net current assets
1,989,209
2,719,129
Total assets less current liabilities
6,514,936
6,957,187
Provisions for liabilities
(11,981)
(18,246)
Net assets
6,502,955
6,938,941
Capital and reserves
Called up share capital
8
88,620
88,620
Profit and loss reserves
6,414,335
6,850,321
Total equity
6,502,955
6,938,941

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

RON GRUNDY (MELBOURNE) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 May 2025 and are signed on its behalf by:
Mr R A Grundy
Director
Company Registration No. 00852961
RON GRUNDY (MELBOURNE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Ron Grundy (Melbourne) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Shardlow Marina, London Road, Shardlow, Derby, DE72 2GL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services net of VAT and other sales related taxes.

Rentals invoiced to customers in advance are included within deferred income and included in turnover in the accounting period in which the service is rendered.

 

Services invoiced to customers after the accounting year are included within accrued income and turnover in the accounting period to the year which the service relates.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired in 2009. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill has been fully amortised.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line/no depreciation on land
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

RON GRUNDY (MELBOURNE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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 (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks represent goods for resale and are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving stock where appropriate.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

 

Debtors and creditors receivable/payable with a year

Debtors and creditors are recorded at transaction price receivable or payable within one year. Any losses arising from impairment are recognised in the profit and loss account within administrative expenses.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

RON GRUNDY (MELBOURNE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The company holds The Ron Grundy (Melbourne) Limited 2014 Employee Benefit Trust ("The Scheme") for the benefit of its officers, employees and their wider families. No contribution has been made in the current or previous year.

 

In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment arrangements" the Company does not include assets and liabilities of The Scheme on its balance sheet to the extent that it considers it will not retain economic benefit from the assets of The Scheme and will not control rights or other access to those present economic benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
12
RON GRUNDY (MELBOURNE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
88,000
Amortisation and impairment
At 1 July 2023 and 30 June 2024
88,000
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
-
0
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 July 2023
2,887,951
424,892
50,540
8,498
124,265
3,496,146
Additions
-
0
1,852
-
0
3,317
97,468
102,637
Disposals
-
0
-
0
-
0
-
0
(24,956)
(24,956)
At 30 June 2024
2,887,951
426,744
50,540
11,815
196,777
3,573,827
Depreciation and impairment
At 1 July 2023
658,045
352,346
42,106
7,355
97,173
1,157,025
Depreciation charged in the year
29,168
18,297
2,108
1,677
25,105
76,355
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(17,060)
(17,060)
At 30 June 2024
687,213
370,643
44,214
9,032
105,218
1,216,320
Carrying amount
At 30 June 2024
2,200,738
56,101
6,326
2,783
91,559
2,357,507
At 30 June 2023
2,229,906
72,546
8,434
1,143
27,092
2,339,121

Land and buildings includes freehold land of £1,429,552 (2023 £1,429,552) which is not depreciated.

RON GRUNDY (MELBOURNE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
500,000
500,000
Other investments other than loans
1,668,220
1,398,937
2,168,220
1,898,937
Fixed asset investments revalued

Investments includes a portfolio investment with a book value of £1,644,392 (2023 £1,309,450). The fair value of the investments has been arrived at on the basis of the market value at 30 June 2024 by Canaccord Genuity Wealth Management, who are not connected with the company.

The listed investments had a market value of £3,828 as at 30 June 2024 (2023 £3,828).

Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 July 2023
500,000
1,398,937
1,898,937
Additions
-
134,364
134,364
Valuation changes
-
330,692
330,692
Disposals
-
(195,773)
(195,773)
At 30 June 2024
500,000
1,668,220
2,168,220
Carrying amount
At 30 June 2024
500,000
1,668,220
2,168,220
At 30 June 2023
500,000
1,398,937
1,898,937
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
174,797
176,141
Other debtors
289,110
889,516
Prepayments and accrued income
94,812
121,781
558,719
1,187,438
RON GRUNDY (MELBOURNE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
254,382
177,720
Corporation tax
-
0
204,571
Other taxation and social security
52,436
64,312
Deferred income
615,744
564,241
Other creditors
113,291
-
0
Accruals and deferred income
53,874
116,907
1,089,727
1,127,751

At the year end, there was an outstanding balance of £113,291 (2023: £0) owed to the director of the company.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
88,620
88,620
88,620
88,620
RON GRUNDY (MELBOURNE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
9
Related party transactions

Included within debtors is a balance of £289,110 (2023 £889,110) due from Ron Grundy Holdings Limited. The loan is unsecured, interest free and repayable upon demand.

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