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REGISTERED NUMBER: 05323423 (England and Wales)





















Financial Statements

for the Year Ended 31 January 2023

for

Gardhams Limited

Gardhams Limited (Registered number: 05323423)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gardhams Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: M Gardham





REGISTERED OFFICE: Suite 14, The Centre
Lakes Industrial Park
Lower Chapel Hill
Braintree
Essex
CM7 3RU





REGISTERED NUMBER: 05323423 (England and Wales)





ACCOUNTANTS: Baverstocks Group Limited
140 Rayne Road
Braintree
Essex
CM7 2QR

Gardhams Limited (Registered number: 05323423)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,066 24,530

CURRENT ASSETS
Stocks 74,219 96,489
Debtors 5 41,541 59,708
Cash at bank 125,964 130,514
241,724 286,711
CREDITORS
Amounts falling due within one year 6 65,549 128,386
NET CURRENT ASSETS 176,175 158,325
TOTAL ASSETS LESS CURRENT
LIABILITIES

211,241

182,855

CREDITORS
Amounts falling due after more than one
year

7

(34,922

)

(40,436

)

PROVISIONS FOR LIABILITIES 9 (9,292 ) (4,027 )
NET ASSETS 167,027 138,392

CAPITAL AND RESERVES
Called up share capital 40 40
Capital redemption reserve 61 61
Retained earnings 166,926 138,291
SHAREHOLDERS' FUNDS 167,027 138,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Gardhams Limited (Registered number: 05323423)

Balance Sheet - continued
31 January 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 director and authorised for issue on 20 October 2023 and were signed by:





M Gardham - Director


Gardhams Limited (Registered number: 05323423)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Gardhams 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.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 33% and 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Gardhams Limited (Registered number: 05323423)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

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 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2022 1,110 41,321 11,133 53,564
Additions 467 42,095 3,534 46,096
Disposals - (18,799 ) (3,238 ) (22,037 )
At 31 January 2023 1,577 64,617 11,429 77,623
DEPRECIATION
At 1 February 2022 1,041 17,525 10,468 29,034
Charge for year 130 15,116 1,515 16,761
Eliminated on disposal - - (3,238 ) (3,238 )
At 31 January 2023 1,171 32,641 8,745 42,557
NET BOOK VALUE
At 31 January 2023 406 31,976 2,684 35,066
At 31 January 2022 69 23,796 665 24,530

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 31,833 51,376
Other debtors 1,138 1,053
Prepayments 8,570 7,279
41,541 59,708

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,514 5,514
Other loans - 5,625
Trade creditors 20,125 73,057
Tax 9,009 7,994
Social security and other taxes 24,876 25,051
Other creditors 88 4,248
Directors' current accounts 2,258 3,506
Accrued expenses 3,679 3,391
65,549 128,386

Gardhams Limited (Registered number: 05323423)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,514 5,514
Bank loans - 2-5 years 16,542 16,542
Bank loans more 5 yr by instal 12,866 18,380
34,922 40,436

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,866 18,380

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 496 496
Between one and five years - 496
496 992

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 9,292 4,027

Deferred
tax
£   
Balance at 1 February 2022 4,027
Charge to Statement of Income and Retained Earnings during year 5,265
Balance at 31 January 2023 9,292