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Registration number: 07096331

Grosvenor Shows Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Grosvenor Shows Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 11

 

Grosvenor Shows Limited

(Registration number: 07096331)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

6

38,851

45,761

Investment property

7

384,555

384,555

 

423,406

430,316

Current assets

 

Debtors

8

352,806

329,764

Cash at bank and in hand

 

88,803

12,141

 

441,609

341,905

Creditors: Amounts falling due within one year

9

(591,521)

(409,767)

Net current liabilities

 

(149,912)

(67,862)

Total assets less current liabilities

 

273,494

362,454

Creditors: Amounts falling due after more than one year

9

(120,061)

(185,630)

Provisions for liabilities

(4,532)

(5,714)

Net assets

 

148,901

171,110

Capital and Reserves

 

Called up share capital

10

1

1

Retained Earnings

148,900

171,109

Shareholders' funds

 

148,901

171,110

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 prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 August 2025
 

 

Grosvenor Shows Limited

(Registration number: 07096331)
Balance Sheet as at 30 November 2024 (continued)

.........................................
Mr R Cooling
Director

 

Grosvenor Shows Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Albion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD
United Kingdom

These financial statements were authorised for issue by the director on 22 August 2025.

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Grosvenor Shows Limited

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

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% and 20% straight line

Motor vehicles

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

50% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Grosvenor Shows Limited

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

2

Accounting policies (continued)

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Grosvenor Shows Limited

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

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 4).

 

Grosvenor Shows Limited

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

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

11,110

7,611

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

2,000

2,000

At 30 November 2024

2,000

2,000

Amortisation

At 1 December 2023

2,000

2,000

At 30 November 2024

2,000

2,000

Carrying amount

At 30 November 2024

-

-

 

Grosvenor Shows Limited

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

6

Tangible Assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

57,785

73,239

131,024

Additions

-

4,200

4,200

Disposals

-

(26,950)

(26,950)

At 30 November 2024

57,785

50,489

108,274

Depreciation

At 1 December 2023

43,815

41,448

85,263

Charge for the year

2,312

8,798

11,110

Eliminated on disposal

-

(26,950)

(26,950)

At 30 November 2024

46,127

23,296

69,423

Carrying amount

At 30 November 2024

11,658

27,193

38,851

At 30 November 2023

13,970

31,791

45,761

7

Investment properties

2024
£

At 1 December

384,555

At 30 November

384,555

There has been no valuation of investment property by an independent valuer.

8

Debtors

Current

Note

2024
£

2023
£

Trade Debtors

 

233,274

184,740

Amounts owed by related parties

11

117,672

122,337

Prepayments

 

1,860

22,687

   

352,806

329,764

 

Grosvenor Shows Limited

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

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

157,661

147,830

Trade Creditors

 

21,178

2,062

Taxation and social security

 

57,499

47,590

Accruals and deferred income

 

226,955

176,471

Other creditors

 

128,228

35,814

 

591,521

409,767

Creditors include bank loans which are secured of £12,533 (2023 - £12,353); and
net obligations under hire purchase contracts which are secured of £3,225 (2023 - £7,962).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

120,061

185,630

Creditors include bank loans which are secured of £26,845 (2023 - £39,557); and
net obligations under hire purchase contracts which are secured of £10,343 (2023 - £13,567).

 

Grosvenor Shows Limited

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

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

11

Related party transactions

 

Grosvenor Shows Limited

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

11

Related party transactions (continued)

Transactions with the director

2024

At 1 December 2023
£

At 30 November 2024
£

Mr R Cooling

Mr R Cooling

(109,718)

(109,718)

2023

At 1 December 2022
£

Repayments by director
£

At 30 November 2023
£

Mr R Cooling

Mr R Cooling

(14,030)

(95,688)

(109,718)