A. Groom Engineering Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05753277 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

FOR

A. GROOM ENGINEERING LTD

Page

Company information

1

Statement of financial position

2

to

3

Notes to the financial statements

4

to

7

DIRECTOR:

Mr A Groom

REGISTERED OFFICE:

The Oaks

15 Evesham Road

Cookhill

Alcester

Warwickshire

B49 5LL

REGISTERED NUMBER:

05753277 (England and Wales)

ACCOUNTANTS:

NJR Accountancy Services Limited

14 Victoria Square

Droitwich Spa

Worcestershire

WR9 8DS

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

760,266

773,629

Investment property

6

679,070

679,070

1,439,336

1,452,699

CURRENT ASSETS

Inventories

55,125

122,888

Debtors

7

195,215

168,838

Cash at bank

505,585

487,519

755,925

779,245

CREDITORS

Amounts falling due within one year

8

173,937

237,141

NET CURRENT ASSETS

581,988

542,104

TOTAL ASSETS LESS CURRENT LIABILITIES

2,021,324

1,994,803

CREDITORS

Amounts falling due after more than one year

9

(345,954

)

(396,453

)

PROVISIONS FOR LIABILITIES

(7,617

)

(10,156

)

NET ASSETS

1,667,753

1,588,194

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,667,751

1,588,192

SHAREHOLDERS' FUNDS

1,667,753

1,588,194

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 15th June 2022 and were signed by:

Mr A Groom - Director

1.	STATUTORY INFORMATION

A. Groom Engineering Ltd 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.

Turnover

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

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.

Freehold property

-

not provided

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2021

and 31st March 2022

34,000

AMORTISATION

At 1st April 2021

and 31st March 2022

34,000

NET BOOK VALUE

At 31st March 2022

-

At 31st March 2021

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2021

and 31st March 2022

720,175

9,765

66,153

8,534

804,627

DEPRECIATION

At 1st April 2021

-

8,363

16,538

6,097

30,998

Charge for year

-

351

12,403

609

13,363

At 31st March 2022

-

8,714

28,941

6,706

44,361

NET BOOK VALUE

At 31st March 2022

720,175

1,051

37,212

1,828

760,266

At 31st March 2021

720,175

1,402

49,615

2,437

773,629

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2021

and 31st March 2022

679,070

NET BOOK VALUE

At 31st March 2022

679,070

At 31st March 2021

679,070

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

142,215

115,838

Amounts owed by group undertakings

53,000

53,000

195,215

168,838

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

55,635

50,759

Hire purchase contracts

3,542

9,357

Trade creditors

20,848

38,950

Taxation and social security

88,101

124,332

Other creditors

5,811

13,743

173,937

237,141

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

344,287

396,453

Hire purchase contracts

1,667

-

345,954

396,453

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

129,316

186,749