REGISTERED NUMBER: 06021345 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

GROVE PARK FINANCE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A J Pearse

REGISTERED OFFICE:

3 & 4 Park Court

Riccall Road

Escrick

York

North Yorkshire

YO19 6ED

REGISTERED NUMBER:

06021345 (England and Wales)

ACCOUNTANTS:

CGA

Chartered Certified Accountants

3 & 4 Park Court

Riccall Road

Escrick

York

North Yorkshire

YO19 6ED

FIXED ASSETS

Intangible assets

4

-

3,660

Tangible assets

5

9,153

8,217

9,153

11,877

CURRENT ASSETS

Stocks

3,212

1,852

Debtors

6

220,452

134,850

Cash at bank

13,009

9,750

236,673

146,452

CREDITORS

Amounts falling due within one year

7

113,211

77,294

NET CURRENT ASSETS

123,462

69,158

TOTAL ASSETS LESS CURRENT LIABILITIES

132,615

81,035

CREDITORS

Amounts falling due after more than one year

8

(65,834

)

(79,943

)

PROVISIONS FOR LIABILITIES

(1,330

)

(1,016

)

NET ASSETS

65,451

76

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

65,450

75

SHAREHOLDERS' FUNDS

65,451

76

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

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

The director acknowledges his 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 director and authorised for issue on 16th September 2025 and were signed by:

A J Pearse - Director

1.	STATUTORY INFORMATION

Grove Park Finance Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue is recognised when the right to consideration becomes due.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years, revised on 1 January 2015 in line with Financial Reporting Standard 102.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

61,000

AMORTISATION

At 1st January 2024

57,340

Charge for year

3,660

At 31st December 2024

61,000

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

3,660

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1st January 2024

19,603

12,530

32,133

Additions

2,217

1,771

3,988

At 31st December 2024

21,820

14,301

36,121

DEPRECIATION

At 1st January 2024

14,166

9,750

23,916

Charge for year

1,914

1,138

3,052

At 31st December 2024

16,080

10,888

26,968

NET BOOK VALUE

At 31st December 2024

5,740

3,413

9,153

At 31st December 2023

5,437

2,780

8,217

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

220,452

134,850

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

4,663

12,843

Trade creditors

34

13

Taxation and social security

35,869

23,010

Other creditors

72,645

41,428

113,211

77,294

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

27,648

27,915

Other creditors

38,186

52,028

65,834

79,943

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

6,470

6,737

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year under review the company made advances of £74,370 (2023: £77,474) to the director, against which credits were made of £88,878 (2023: £45,513).

At the year end, the amount owed to the company by the director was £67,128 (2023: £81,636). This is included within other debtors.

Interest has been charged on the loan amount at the HMRC official rates.

There are no conditions attached to advances to the director, however, the director must ensure that this is not detrimental to the company.

10.	RELATED PARTY DISCLOSURES

The Insolvency Trust Ltd

The company is owed money by The Insolvency Trust Ltd, a company in which Mr A Pearse is also a Director. The amount owed at the balance sheet date is £107,680 (2023: £26,855 owed to The Insolvency Trust Ltd) and is included within other creditors due within one year (2023: included within other debtors). No interest is charged on the balance.

Pearse Ward Ltd

During the year, amounts totalling £Nil (2023: £39,500) were loaned to Pearse Ward Ltd, a company in which Mr A Pearse is also a Director and £Nil (2023: £15,000) was repaid. The amount outstanding at the balance sheet date is £24,500 (2023: £24,500) and included within other debtors due within one year. No interest is charged on the balance.