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GROVE INDUSTRIES LIMITED |
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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GROVE INDUSTRIES LIMITED |
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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GROVE INDUSTRIES LIMITED (REGISTERED NUMBER: 03776905) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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GROVE INDUSTRIES LIMITED |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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88 Hill Village Road |
Sutton Coldfield |
West Midlands |
B75 5BE |
GROVE INDUSTRIES LIMITED (REGISTERED NUMBER: 03776905) |
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Balance Sheet |
31 March 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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GROVE INDUSTRIES LIMITED (REGISTERED NUMBER: 03776905) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Grove Industries Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
These individual company accounts have been prepared to assist the directors in submitting the |
company tax return. The company publishes consolidated accounts which are publicly available. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
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Investments |
Fixed asset investments are stated at cost less provision for diminution in value. |
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3. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 April 2017 |
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1,100,164 |
Disposals | ( |
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(6,060 | ) |
At 31 March 2018 |
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1,094,104 |
NET BOOK VALUE |
At 31 March 2018 |
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1,094,104 |
At 31 March 2017 |
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1,100,164 |
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4. | DEBTORS |
2018 | 2017 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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GROVE INDUSTRIES LIMITED (REGISTERED NUMBER: 03776905) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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4. | DEBTORS - continued |
2018 | 2017 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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Debtors falling due after more than one year comprise deferred consideration in respect of the sale of |
the company's subsidiary, GI Solutions Holdings Limited, and rolled up interest on the deferred |
consideration. The deferred consideration attracts interest at 8% per annum. |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £0.01 | - | 10 |
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A ordinary | £0.01 | 5 | - |
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B ordinary | £0.01 | 5 | - |
10 | 10 |
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During the year the company reclassified 1,000 ordinary shares of £0.01 to 500 Ordinary A shares of |
£0.01 and 500 Ordinary B shares of £0.01. These shares were subsequently reduced in exchange for |
the issue of 500 new Ordinary A shares of £0.01 and 500 Ordinary B shares of £0.01 to Grove |
Industries (Holdings) Limited. These shares rank pari passu in all respects. |
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7. | RELATED PARTY DISCLOSURES |
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During the year the company's investments in its subsidiaries Davicon Mezzanine Floors Limited and |
DMCH Limited were transferred to Grove Industries (Holdings) Limited by way of a dividend in specie |
of £6,060, being the net book value of the investments. |
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8. | ULTIMATE CONTROLLING PARTY |
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The parent company is Grove Industries (Holdings) Limited. The ultimate controlling party is the |
directors of the company. |