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Registration number: 09869018

Grousemoor Engineering Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Grousemoor Engineering Limited

(Registration number: 09869018)

Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

978

2,390

Current assets

 

Debtors

4

53,292

35,151

Cash at bank and in hand

 

202,232

120,336

 

255,524

155,487

Creditors: Amounts falling due within one year

5

(85,609)

(14,398)

Net current assets

 

169,915

141,089

Total assets less current liabilities

 

170,893

143,479

Provisions for liabilities

(244)

(597)

Net assets

 

170,649

142,882

Capital and reserves

 

Called up share capital

100

100

Retained earnings

170,549

142,782

Shareholders' funds

 

170,649

142,882

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 17 April 2025
 

.........................................

Mr I Knowles

Director

 

Grousemoor Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

Accounting policies

Statutory information

Grousemoor Engineering Limited is a private company, limited by shares, domiciled in England and Wales, company number 09869018. The registered office is at 272 Fulwood Road, Sheffield, S10 3BN.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Turnover is recognised when goods and services are provided to clients.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Grousemoor Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% straight line

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions are charged in the profit and loss account as they become payable in accordance with the rules of the scheme.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 3).

3

Tangible assets

Fixtures, fittings and equipment
£

Cost

At 1 December 2023

7,059

At 30 November 2024

7,059

Depreciation

At 1 December 2023

4,669

Charge for the year

1,412

At 30 November 2024

6,081

Carrying amount

At 30 November 2024

978

At 30 November 2023

2,390

 

Grousemoor Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Debtors

2024
£

2023
£

Trade debtors

47,221

35,151

Prepayments

6,071

-

 

53,292

35,151

5

Creditors

2024
£

2023
£

Due within one year

Trade creditors

207

-

Taxation and social security

26,923

7,841

Director's current account

55,229

3,307

Accruals

3,250

3,250

85,609

14,398