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REGISTERED NUMBER: 03609327 (England and Wales)















Financial Statements for the Year Ended 31 July 2023

for

The Gas Shop (Felixstowe) Limited

The Gas Shop (Felixstowe) Limited (Registered number: 03609327)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Gas Shop (Felixstowe) Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: S J Abbott
P D Ridgeon





SECRETARY: Mrs C M Abbott





REGISTERED OFFICE: 14-16 Orwell Road
Felixstowe
Suffolk
IP11 7HD





REGISTERED NUMBER: 03609327 (England and Wales)





ACCOUNTANTS: Passmore Weeks & Richardson
A Xeinadin Company
36 Church Street
Stradbroke
Eye
Suffolk
IP21 5HS

The Gas Shop (Felixstowe) Limited (Registered number: 03609327)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 145,514 109,746
145,514 109,746

CURRENT ASSETS
Stocks 24,750 21,500
Debtors 6 1,195,892 251,910
Cash at bank and in hand 233,966 1,021,238
1,454,608 1,294,648
CREDITORS
Amounts falling due within one year 7 176,219 153,158
NET CURRENT ASSETS 1,278,389 1,141,490
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,423,903

1,251,236

CREDITORS
Amounts falling due after more than one
year

8

(21,387

)

(13,320

)

PROVISIONS FOR LIABILITIES (31,256 ) (20,385 )
NET ASSETS 1,371,260 1,217,531

CAPITAL AND RESERVES
Called up share capital 204 204
Retained earnings 1,371,056 1,217,327
SHAREHOLDERS' FUNDS 1,371,260 1,217,531

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

The Gas Shop (Felixstowe) Limited (Registered number: 03609327)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:





S J Abbott - Director


The Gas Shop (Felixstowe) Limited (Registered number: 03609327)

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

1. STATUTORY INFORMATION

The Gas Shop (Felixstowe) 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.

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.
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 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 Income Statement, 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.

The Gas Shop (Felixstowe) Limited (Registered number: 03609327)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 21 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 14,000
AMORTISATION
At 1 August 2022
and 31 July 2023 14,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 August 2022 32,049 50,061 209,966 292,076
Additions - 2,164 64,200 66,364
At 31 July 2023 32,049 52,225 274,166 358,440
DEPRECIATION
At 1 August 2022 10,475 43,696 128,159 182,330
Charge for year 640 1,766 28,190 30,596
At 31 July 2023 11,115 45,462 156,349 212,926
NET BOOK VALUE
At 31 July 2023 20,934 6,763 117,817 145,514
At 31 July 2022 21,574 6,365 81,807 109,746

Included in the above values, the net book value of assets held under hire purchase contracts at the end of the year was £54,284 (2022: £39,950). The depreciation charged on those assets in the year was £9,837 (2022: £6,702).

The Gas Shop (Felixstowe) Limited (Registered number: 03609327)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 85,921 126,592
Other debtors 1,109,971 125,318
1,195,892 251,910

Other debtors include prepayments and accrued income of £16,518 (2022: £8,280).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 17,564 10,091
Trade creditors 71,018 62,170
Taxation and social security 78,784 73,328
Other creditors 8,853 7,569
176,219 153,158

Other creditors include accruals of £6,447 (2022: £5,787).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 21,387 13,320