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Company Registration No. 03816091 (England and Wales)
Gorringe Plant Limited Unaudited accounts for the year ended 31 July 2023
Gorringe Plant Limited Unaudited accounts Contents
Page
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Gorringe Plant Limited Company Information for the year ended 31 July 2023
Directors
F A Gorringe P J Gorringe
Company Number
03816091 (England and Wales)
Registered Office
Broomfield Farm, South Lane Dallington Heathfield East Sussex TN21 9NJ United Kingdom
Accountants
Worthweld PT Limited 5 Field End Maresfield Uckfield East Sussex TN22 2DJ
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Gorringe Plant Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
805,988 
686,095 
Investment property
250,781 
250,781 
1,056,769 
936,876 
Current assets
Debtors
165,989 
83,666 
Cash at bank and in hand
212,727 
213,955 
378,716 
297,621 
Creditors: amounts falling due within one year
(169,434)
(164,705)
Net current assets
209,282 
132,916 
Total assets less current liabilities
1,266,051 
1,069,792 
Creditors: amounts falling due after more than one year
(32,671)
(27,110)
Provisions for liabilities
Deferred tax
(201,497)
(130,358)
Net assets
1,031,883 
912,324 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
1,031,881 
912,322 
Shareholders' funds
1,031,883 
912,324 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by
P J Gorringe Director Company Registration No. 03816091
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Gorringe Plant Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Gorringe Plant Limited is a private company, limited by shares, registered in England and Wales, registration number 03816091. The registered office is Broomfield Farm, South Lane, Dallington, Heathfield, East Sussex, TN21 9NJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% per annum on the reducing balance method
Motor vehicles
25% per annum on the reducing balance method
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Gorringe Plant Limited Notes to the Accounts for the year ended 31 July 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
1,134,978 
297,147 
1,432,125 
Additions
167,743 
91,200 
258,943 
Disposals
(28,113)
(30,700)
(58,813)
At 31 July 2023
1,274,608 
357,647 
1,632,255 
Depreciation
At 1 August 2022
539,519 
206,511 
746,030 
Charge for the year
102,365 
25,743 
128,108 
On disposals
(22,505)
(25,366)
(47,871)
At 31 July 2023
619,379 
206,888 
826,267 
Net book value
At 31 July 2023
655,229 
150,759 
805,988 
At 31 July 2022
595,459 
90,636 
686,095 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
147,428 
102,244 
- Motor vehicles
26,520 
48,714 
5
Investment property
2023 
£ 
Fair value at 1 August 2022
250,781 
At 31 July 2023
250,781 
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Gorringe Plant Limited Notes to the Accounts for the year ended 31 July 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
26,757 
17,828 
Trade debtors
103,868 
38,439 
Accrued income and prepayments
31,115 
27,286 
Other debtors
4,249 
113 
165,989 
83,666 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
50,160 
44,522 
Trade creditors
26,188 
36,339 
Taxes and social security
45,319 
53,696 
Other creditors
44,698 
25,841 
Loans from directors
- 
1,412 
Accruals
3,069 
2,895 
169,434 
164,705 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
32,671 
27,110 
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
201,497 
130,358 
2023 
2022 
£ 
£ 
Provision at start of year
130,358 
147,966 
Charged/(credited) to the profit and loss account
71,139 
(17,608)
Provision at end of year
201,497 
130,358 
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
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Gorringe Plant Limited Notes to the Accounts for the year ended 31 July 2023
11
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 July 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
50,160 
62,022 
Later than one year and not later than five years
32,671 
42,610 
82,831 
104,632 
12
Transactions with related parties
The company is controlled by the Directors. At the 31 July 2023 the Directors had made loans to the company of £0 (2022: £1412). The Directors during the year were paid dividends totalling £76750 (2022: £88550). The Directors received rent totalling £15000 (2022: £15000). No other transactions required reporting during the year.
13
Average number of employees
During the year the average number of employees was 10 (2022: 9).
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