Company registration number 06785633 (England and Wales)
GARDINER POLE SYSTEMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
GARDINER POLE SYSTEMS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
GARDINER POLE SYSTEMS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Goodwill
3
15,000
17,500
Other intangible assets
3
26,057
30,902
Total intangible assets
41,057
48,402
Tangible assets
4
588,139
494,268
Investment properties
5
142,870
120,669
772,066
663,339
Current assets
Stocks
1,348,735
1,159,245
Debtors
6
12,514
3,895
Cash at bank and in hand
3,190,445
3,177,424
4,551,694
4,340,564
Creditors: amounts falling due within one year
7
(284,460)
(374,048)
Net current assets
4,267,234
3,966,516
Total assets less current liabilities
5,039,300
4,629,855
Provisions for liabilities
(40,251)
(44,707)
Net assets
4,999,049
4,585,148
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
4,998,049
4,584,148
Total equity
4,999,049
4,585,148

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GARDINER POLE SYSTEMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2023
31 January 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 October 2023 and are signed on its behalf by:
Mrs K Davies
Director
Company Registration No. 06785633
GARDINER POLE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
1
Accounting policies
Company information

Gardiner Pole Systems Limited is a private company limited by shares incorporated in England and Wales. The registered office is Trevarrick Mill, Trevarrick Road, St Austell, Cornwall, PL25 5JN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of specialist window cleaning equipment and is shown net of VAT and trade discounts.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents
25% per annum on the reducing balance method.
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% per annum on the straight line method.
Plant and machinery
15% per annum on the reducing balance method and 33.33% per annum on the straight line method.
Fixtures, fittings & equipment
15% per annum on the reducing balance method.
Motor vehicles
25% per annum on the reducing balance method.
GARDINER POLE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell after making due allowance for obsolete and slow moving stock.

1.10
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.11
Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

GARDINER POLE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 5 -
1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.15
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
42
39
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 February 2022 and 31 January 2023
50,000
108,215
158,215
Amortisation and impairment
At 1 February 2022
32,500
77,313
109,813
Amortisation charged for the year
2,500
4,845
7,345
At 31 January 2023
35,000
82,158
117,158
Carrying amount
At 31 January 2023
15,000
26,057
41,057
At 31 January 2022
17,500
30,902
48,402
GARDINER POLE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 6 -
4
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2022
294,766
371,428
19,139
67,217
752,550
Additions
148,873
21,446
-
0
-
0
170,319
At 31 January 2023
443,639
392,874
19,139
67,217
922,869
Depreciation and impairment
At 1 February 2022
7,815
215,283
6,495
28,689
258,282
Depreciation charged in the year
8,689
56,231
1,896
9,632
76,448
At 31 January 2023
16,504
271,514
8,391
38,321
334,730
Carrying amount
At 31 January 2023
427,135
121,360
10,748
28,896
588,139
At 31 January 2022
286,951
156,145
12,644
38,528
494,268
5
Investment property
2023
£
Fair value
At 1 February 2022
120,669
Additions
22,201
At 31 January 2023
142,870

Investment property comprises of a commercial property acquired in September 2020. The directors consider that the fair value of this property at the year end is reasonably represented by its historical cost.

6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
12,514
3,895
GARDINER POLE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 7 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
64,358
92,716
Taxation and social security
207,892
269,161
Other creditors
12,210
12,171
284,460
374,048
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
80,500
23,000
2023-01-312022-02-01false10 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMrs K DaviesMr B GardinerMr A GardinerMrs A GardinerMrs M GardinerMrs K Davies067856332022-02-012023-01-31067856332023-01-3106785633core:Goodwill2023-01-3106785633core:Goodwill2022-01-3106785633core:OtherResidualIntangibleAssets2023-01-3106785633core:OtherResidualIntangibleAssets2022-01-31067856332022-01-3106785633core:NetGoodwill2023-01-3106785633core:IntangibleAssetsOtherThanGoodwill2023-01-3106785633core:NetGoodwill2022-01-3106785633core:IntangibleAssetsOtherThanGoodwill2022-01-3106785633core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-3106785633core:PlantMachinery2023-01-3106785633core:FurnitureFittings2023-01-3106785633core:MotorVehicles2023-01-3106785633core:LandBuildingscore:OwnedOrFreeholdAssets2022-01-3106785633core:PlantMachinery2022-01-3106785633core:FurnitureFittings2022-01-3106785633core:MotorVehicles2022-01-3106785633core:CurrentFinancialInstruments2023-01-3106785633core:CurrentFinancialInstruments2022-01-3106785633core:ShareCapital2023-01-3106785633core:ShareCapital2022-01-3106785633core:RetainedEarningsAccumulatedLosses2023-01-3106785633core:RetainedEarningsAccumulatedLosses2022-01-3106785633bus:CompanySecretaryDirector12022-02-012023-01-3106785633core:Goodwill2022-02-012023-01-3106785633core:IntangibleAssetsOtherThanGoodwill2022-02-012023-01-3106785633core:LandBuildingscore:OwnedOrFreeholdAssets2022-02-012023-01-3106785633core:PlantMachinery2022-02-012023-01-3106785633core:FurnitureFittings2022-02-012023-01-3106785633core:MotorVehicles2022-02-012023-01-31067856332021-02-012022-01-3106785633core:NetGoodwill2022-01-3106785633core:IntangibleAssetsOtherThanGoodwill2022-01-31067856332022-01-3106785633core:NetGoodwill2022-02-012023-01-3106785633core:LandBuildingscore:OwnedOrFreeholdAssets2022-01-3106785633core:PlantMachinery2022-01-3106785633core:FurnitureFittings2022-01-3106785633core:MotorVehicles2022-01-3106785633core:WithinOneYear2023-01-3106785633core:WithinOneYear2022-01-3106785633bus:PrivateLimitedCompanyLtd2022-02-012023-01-3106785633bus:SmallCompaniesRegimeForAccounts2022-02-012023-01-3106785633bus:FRS1022022-02-012023-01-3106785633bus:AuditExemptWithAccountantsReport2022-02-012023-01-3106785633bus:Director12022-02-012023-01-3106785633bus:Director22022-02-012023-01-3106785633bus:Director32022-02-012023-01-3106785633bus:Director42022-02-012023-01-3106785633bus:Director52022-02-012023-01-3106785633bus:CompanySecretary12022-02-012023-01-3106785633bus:FullAccounts2022-02-012023-01-31xbrli:purexbrli:sharesiso4217:GBP