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REGISTERED NUMBER: 13328874 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024

FOR

GROVE COLLECTIVE LTD

GROVE COLLECTIVE LTD (REGISTERED NUMBER: 13328874)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


GROVE COLLECTIVE LTD (REGISTERED NUMBER: 13328874)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 943 1,640

CURRENT ASSETS
Debtors 5 113 744
Cash at bank 2,108 10,901
2,221 11,645
CREDITORS
Amounts falling due within one year 6 195,663 187,044
NET CURRENT LIABILITIES (193,442 ) (175,399 )
TOTAL ASSETS LESS CURRENT LIABILITIES (192,499 ) (173,759 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (192,501 ) (173,761 )
SHAREHOLDERS' FUNDS (192,499 ) (173,759 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2025 and were signed on its behalf by:





J Barnes - Director


GROVE COLLECTIVE LTD (REGISTERED NUMBER: 13328874)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024


1. STATUTORY INFORMATION

Grove Collective Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13328874

Registered office: 3 Bracklyn Street
London
N1 7TX

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents commission received in respect for agency services provided to artists. Agency services include the arrangement, marketing, shipping and delivery of artist works.

Turnover is recognised at the point when sale of the art work has been completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Going concern
The directors made the decision to cease the current trade at the reporting date. Subsequent to the reporting date the company's trade activity will be from rental income. The Financial Statements have been prepared under a going concern basis, as the directors have confirmed they will continue to support the company so it may meet its financial obligations as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

GROVE COLLECTIVE LTD (REGISTERED NUMBER: 13328874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023
and 31 May 2024 1,470 999 2,469
DEPRECIATION
At 1 May 2023 392 437 829
Charge for period 367 330 697
At 31 May 2024 759 767 1,526
NET BOOK VALUE
At 31 May 2024 711 232 943
At 30 April 2023 1,078 562 1,640

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 113 -
Prepayments - 744
113 744

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1 1
VAT - 711
Directors' current accounts 193,661 182,332
Accruals and deferred income 2,001 4,000
195,663 187,044

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, M Wagner increased her loan to the company. As at 31/05/2024., the company owed her £4,168 (2023: £1,968). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

During the year, J Barnes increased his loan to the company. As at 31/05/2024., the company owed him £189,492 (2023: £180,634). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.