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REGISTERED NUMBER: 05089348 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

GEOFF TITE AND SONS LIMITED

GEOFF TITE AND SONS LIMITED (REGISTERED NUMBER: 05089348)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEOFF TITE AND SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: G W Tite
Mrs T J Tite





SECRETARY: Mrs T J Tite





REGISTERED OFFICE: 18 High West Street
Dorchester
Dorset
DT1 1UW





REGISTERED NUMBER: 05089348 (England and Wales)





ACCOUNTANTS: Pugsley Revill
18 High West Street
Dorchester
Dorset
DT1 1UW

GEOFF TITE AND SONS LIMITED (REGISTERED NUMBER: 05089348)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,500 3,000
Tangible assets 5 108,384 77,856
109,884 80,856

CURRENT ASSETS
Stocks 30,870 16,280
Debtors 6 36,839 37,283
Cash at bank 76,438 167,233
144,147 220,796
CREDITORS
Amounts falling due within one year 7 148,234 168,861
NET CURRENT (LIABILITIES)/ASSETS (4,087 ) 51,935
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,797

132,791

CREDITORS
Amounts falling due after more than one
year

8

(17,343

)

(24,938

)

PROVISIONS FOR LIABILITIES 9 (20,593 ) (14,793 )
NET ASSETS 67,861 93,060

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 67,761 92,960
SHAREHOLDERS' FUNDS 67,861 93,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

GEOFF TITE AND SONS LIMITED (REGISTERED NUMBER: 05089348)

BALANCE SHEET - continued
30 APRIL 2023


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 4 October 2023 and were signed on its behalf by:




G W Tite - Director



Mrs T J Tite - Director


GEOFF TITE AND SONS LIMITED (REGISTERED NUMBER: 05089348)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Geoff Tite and Sons 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

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.
Cranes - 15% on reducing balance
Plant and equipment - 15% on reducing balance
Weighbridge, portakabin and storage huts - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

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.

GEOFF TITE AND SONS LIMITED (REGISTERED NUMBER: 05089348)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 30,000
AMORTISATION
At 1 May 2022 27,000
Amortisation for year 1,500
At 30 April 2023 28,500
NET BOOK VALUE
At 30 April 2023 1,500
At 30 April 2022 3,000

5. TANGIBLE FIXED ASSETS
Weighbridge,
portakabin
and
Plant and storage
Cranes equipment huts
£    £    £   
COST
At 1 May 2022 6,500 138,550 3,150
Additions - 20,800 -
Disposals - - -
At 30 April 2023 6,500 159,350 3,150
DEPRECIATION
At 1 May 2022 6,152 83,183 2,981
Charge for year 52 11,425 25
Eliminated on disposal - - -
At 30 April 2023 6,204 94,608 3,006
NET BOOK VALUE
At 30 April 2023 296 64,742 144
At 30 April 2022 348 55,367 169

GEOFF TITE AND SONS LIMITED (REGISTERED NUMBER: 05089348)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022 42,260 2,749 193,209
Additions 28,000 - 48,800
Disposals (1,760 ) - (1,760 )
At 30 April 2023 68,500 2,749 240,249
DEPRECIATION
At 1 May 2022 20,572 2,465 115,353
Charge for year 6,552 71 18,125
Eliminated on disposal (1,613 ) - (1,613 )
At 30 April 2023 25,511 2,536 131,865
NET BOOK VALUE
At 30 April 2023 42,989 213 108,384
At 30 April 2022 21,688 284 77,856

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 24,969 37,178
Other debtors 105 105
Corporation tax 11,765 -
36,839 37,283

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 8,000 8,000
Corporation tax - 13,063
Social security and other taxes 142 171
VAT 21,769 23,582
Other creditors 112 120
Directors' loan accounts 116,101 121,865
Accrued expenses 2,110 2,060
148,234 168,861

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 8,000 8,000
Other loans - 2-5 years 9,343 16,938
17,343 24,938

GEOFF TITE AND SONS LIMITED (REGISTERED NUMBER: 05089348)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 20,593 14,793

Deferred
tax
£   
Balance at 1 May 2022 14,793
Provided during year 5,800
Balance at 30 April 2023 20,593

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100