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REGISTERED NUMBER: 05485533 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

GILLS PUDDINGS LIMITED

GILLS PUDDINGS LIMITED (REGISTERED NUMBER: 05485533)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GILLS PUDDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: K S Smith
Mrs G D Smith





SECRETARY: K S Smith





REGISTERED OFFICE: 207 Shrewsbury Road
Market Drayton
Shropshire
TF9 3EW





REGISTERED NUMBER: 05485533 (England and Wales)





ACCOUNTANTS: Barringtons Limited
41 Cheshire Street
Market Drayton
Shropshire
TF9 1PH

GILLS PUDDINGS LIMITED (REGISTERED NUMBER: 05485533)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 241,414 264,995

CURRENT ASSETS
Stocks 32,000 30,000
Debtors 5 208,489 63,774
Cash at bank and in hand 274,969 81,078
515,458 174,852
CREDITORS
Amounts falling due within one year 6 298,383 110,709
NET CURRENT ASSETS 217,075 64,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

458,489

329,138

CREDITORS
Amounts falling due after more than one
year

7

(41,792

)

(62,083

)

PROVISIONS FOR LIABILITIES (34,334 ) (39,588 )
NET ASSETS 382,363 227,467

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 382,263 227,367
SHAREHOLDERS' FUNDS 382,363 227,467

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

GILLS PUDDINGS LIMITED (REGISTERED NUMBER: 05485533)

BALANCE SHEET - continued
31 MARCH 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:





K S Smith - Director


GILLS PUDDINGS LIMITED (REGISTERED NUMBER: 05485533)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Government grants
The company has taken advantage of the government grants made available due to the Covid-19 pandemic.

Stocks
Stocks 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 Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

GILLS PUDDINGS LIMITED (REGISTERED NUMBER: 05485533)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 34 (2021 - 30 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor Computer
improvements machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2021 54,914 342,388 135,438 20,895 553,635
Additions 4,384 16,050 - - 20,434
At 31 March 2022 59,298 358,438 135,438 20,895 574,069
DEPRECIATION
At 1 April 2021 - 191,711 77,102 19,827 288,640
Charge for year - 31,280 11,667 1,068 44,015
At 31 March 2022 - 222,991 88,769 20,895 332,655
NET BOOK VALUE
At 31 March 2022 59,298 135,447 46,669 - 241,414
At 31 March 2021 54,914 150,677 58,336 1,068 264,995

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2021
and 31 March 2022 67,645
DEPRECIATION
At 1 April 2021 26,263
Charge for year 8,276
At 31 March 2022 34,539
NET BOOK VALUE
At 31 March 2022 33,106
At 31 March 2021 41,382

GILLS PUDDINGS LIMITED (REGISTERED NUMBER: 05485533)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 137,916 41,694
Other debtors 70,573 22,080
208,489 63,774

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 7,500
Hire purchase contracts 10,500 10,500
Trade creditors 90,756 26,450
Taxation and social security 120,203 12,818
Other creditors 66,924 53,441
298,383 110,709

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 32,500 42,500
Hire purchase contracts 9,292 19,583
41,792 62,083

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,500

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2022 and the period ended 31 March 2021:

2022 2021
£    £   
K S Smith and Mrs G D Smith
Balance outstanding at start of year - 14,052
Amounts repaid - (14,052 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -