Grovewood Insurance Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03091138

Grovewood Insurance Services Limited

Filleted Unaudited Financial Statements

30 September 2024

Grovewood Insurance Services Limited

Statement of Financial Position

30 September 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		394	573

Current assets

Debtors	6	49,418	61,239
Cash at bank and in hand		8,564	146
		--------	--------
		57,982	61,385

Creditors: amounts falling due within one year	7	62,604		57,199
		--------		--------
Net current (liabilities)/assets			( 4,622)	4,186
			-------	-------
Total assets less current liabilities			( 4,228)	4,759

Creditors: amounts falling due after more than one year	8	2,238	4,351
		-------	-------
Net (liabilities)/assets		( 6,466)	408
		-------	-------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 6,468)	406
	-------	----
Shareholders (deficit)/funds	( 6,466)	408
	-------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;

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

Grovewood Insurance Services Limited

Statement of Financial Position (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr R Annable
Director

Company registration number: 03091138

Grovewood Insurance Services Limited

Notes to the Financial Statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Grovewood House, Bolter End Lane, Bolter End, High Wycombe, Bucks, HP14 3LU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	25% reducing balance

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 October 2023 and 30 September 2024	12,263	12,263
	--------	--------
Depreciation
At 1 October 2023	11,690	11,690
Charge for the year	179	179
	--------	--------
At 30 September 2024	11,869	11,869
	--------	--------
Carrying amount
At 30 September 2024	394	394
	--------	--------
At 30 September 2023	573	573
	--------	--------

6. Debtors

	2024	2023
	£	£
Trade debtors	25,247	24,647
Other debtors	24,171	36,592
	--------	--------
	49,418	61,239
	--------	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	2,299	2,299
Trade creditors	636	760
Corporation tax	27,004	29,435
Social security and other taxes	7,220	4,144
Other creditors	25,445	20,561
	--------	--------
	62,604	57,199
	--------	--------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	2,238	4,351
	-------	-------

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr R Annable	26,862	14,018	( 23,393)	17,487
	--------	--------	--------	--------

	2023
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr R Annable	44,789	41,763	( 59,690)	26,862
	--------	--------	--------	--------