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Registration number: 04123187

Gardiners Reclaimed Building Materials Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2022

 

Gardiners Reclaimed Building Materials Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Gardiners Reclaimed Building Materials Limited

Company Information

Director

Mr P V Gardiner

Registered office

Grove Road Industrial Estate
Grove Road
Fenton
Stoke-on-Trent
ST4 4LG

Accountants

McIntosh Accountants Limited
263A Werrington Road
Bucknall
Stoke-on-Trent
ST2 9AS

 

Gardiners Reclaimed Building Materials Limited

(Registration number: 04123187)
Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

119,956

105,873

Current assets

 

Stocks

5

222,100

146,100

Debtors

6

8,099

1,933

Cash at bank and in hand

 

3,401

469

 

233,600

148,502

Creditors: Amounts falling due within one year

7

(77,919)

(49,916)

Net current assets

 

155,681

98,586

Total assets less current liabilities

 

275,637

204,459

Creditors: Amounts falling due after more than one year

7

(88,095)

(101,319)

Provisions for liabilities

(2,958)

-

Net assets

 

184,584

103,140

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

183,584

102,140

Shareholders' funds

 

184,584

103,140

For the financial year ending 31 January 2022 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 6 September 2022
 

 

Gardiners Reclaimed Building Materials Limited

(Registration number: 04123187)
Balance Sheet as at 31 January 2022

.........................................
Mr P V Gardiner
Director

 

Gardiners Reclaimed Building Materials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

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:
Grove Road Industrial Estate
Grove Road
Fenton
Stoke-on-Trent
ST4 4LG

These financial statements were authorised for issue by the director on 6 September 2022.

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 current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Gardiners Reclaimed Building Materials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

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.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2021 - 5).

 

Gardiners Reclaimed Building Materials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2021

95,296

105,595

17,251

218,142

Additions

-

336

23,825

24,161

Disposals

-

-

(16,251)

(16,251)

At 31 January 2022

95,296

105,931

24,825

226,052

Depreciation

At 1 February 2021

-

98,663

13,606

112,269

Charge for the year

-

1,704

4,774

6,478

Eliminated on disposal

-

-

(12,651)

(12,651)

At 31 January 2022

-

100,367

5,729

106,096

Carrying amount

At 31 January 2022

95,296

5,564

19,096

119,956

At 31 January 2021

95,296

6,932

3,645

105,873

Included within the net book value of land and buildings above is £95,296 (2021 - £95,296) in respect of freehold land and buildings.
 

5

Stocks

2022
£

2021
£

Other inventories

222,100

146,100

6

Debtors

Current

2022
£

2021
£

Trade debtors

8,099

1,933

 

Gardiners Reclaimed Building Materials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

23,520

13,897

Trade creditors

 

23,012

7,669

Taxation and social security

 

24,329

26,757

Accruals and deferred income

 

1,600

1,550

Other creditors

 

5,458

43

 

77,919

49,916

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

88,095

101,319

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000