Grovekey Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Grovekey Limited

Company Information

Directors

Mrs S Brennan Mr J Brennan

Registered office

Coach House Saltburn Lane Saltburn TS12 1HD

Accountants

Chuhan and Singh Partnership Limited Chartered Accountants81 Borough Road Middlesbrough TS1 3AA

Grovekey Limited

(Registration number: 02952206)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	842,018	810,296
Current assets
Stocks	5	1,625	1,423
Debtors	6	266,649	268,779
Cash at bank and in hand		26,446	295
		294,720	270,497
Creditors: Amounts falling due within one year	7	(209,056)	(154,519)
Net current assets		85,664	115,978
Total assets less current liabilities		927,682	926,274
Provisions for liabilities		(4,124)	(4,917)
Net assets		923,558	921,357
Capital and reserves
Called up share capital		100	100
Retained earnings		923,458	921,257
Shareholders' funds		923,558	921,357

Grovekey Limited

(Registration number: 02952206)
Balance Sheet as at 31 October 2025 (continued)

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 August 2026 and signed on its behalf by:
 

......................................... Mrs S Brennan Director

......................................... Mr J Brennan Director

Grovekey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

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:
Coach House
Saltburn Lane
Saltburn
TS12 1HD

These financial statements were authorised for issue by the Board on 18 August 2026.

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 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.

Grovekey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (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	25% reducing balance
Motor vehicles	25% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Grovekey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

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.

Provisions

Provisions are recognised when the entity has an obligaion at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised ate recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Grovekey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2024	781,926	100,014	21,070	903,010
Additions	35,291	2,105	1,480	38,876
Disposals	-	-	(11,495)	(11,495)
At 31 October 2025	817,217	102,119	11,055	930,391
Depreciation
At 1 November 2024	-	75,222	17,492	92,714
Charge for the year	-	6,724	158	6,882
Eliminated on disposal	-	-	(11,223)	(11,223)
At 31 October 2025	-	81,946	6,427	88,373
Carrying amount
At 31 October 2025	817,217	20,173	4,628	842,018
At 31 October 2024	781,926	24,792	3,578	810,296

Included within the net book value of land and buildings above is £817,217 (2024 - £781,926) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Other inventories	1,625	1,423

Grovekey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		-	7
Amounts owed by related parties		250,348	250,148
Prepayments		3,173	5,739
Other debtors		13,128	12,885
		266,649	268,779

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		-	11,578
Trade creditors		4,693	4,217
Taxation and social security		1,034	590
Accruals and deferred income		9,286	9,571
Other creditors		194,043	128,563
		209,056	154,519

8	Related party transactions

Included in debtors is £245,548 (2024 £250,148) due from related companies.