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REGISTERED NUMBER: 03488945 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

GAYNOR GROUP LIMITED

GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GAYNOR GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: D L Gaynor
K Gaynor
K E Phillips





SECRETARY: K Gaynor





REGISTERED OFFICE: Court House
Court Road
Bridgend
CF31 1BE





BUSINESS ADDRESS: The Highwayman Security Car Park
Fonmon
Rhoose
Vale of Glamorgan
CF62 3BH





REGISTERED NUMBER: 03488945 (England and Wales)





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE

GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 936,677 930,805
Investment property 6 400,000 400,000
1,336,677 1,330,805

CURRENT ASSETS
Debtors 7 6,031 11,277
Cash at bank and in hand 750 21,368
6,781 32,645
CREDITORS
Amounts falling due within one year 8 269,440 215,524
NET CURRENT LIABILITIES (262,659 ) (182,879 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,074,018

1,147,926

CREDITORS
Amounts falling due after more than one
year

9

(400,557

)

(468,747

)

PROVISIONS FOR LIABILITIES (17,501 ) (13,506 )
NET ASSETS 655,960 665,673

CAPITAL AND RESERVES
Called up share capital 137,458 137,458
Revaluation reserve 11 330,871 335,871
Capital redemption reserve 15,273 15,273
Fair value reserve 11 189,129 189,129
Retained earnings (16,771 ) (12,058 )
SHAREHOLDERS' FUNDS 655,960 665,673

GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945)

BALANCE SHEET - continued
28 FEBRUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 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 by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:





D L Gaynor - Director


GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Gaynor Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The accounts are prepared on the going concern basis. This basis is deemed appropriate due to the continuing support of the director.

Preparation of consolidated financial statements
The financial statements contain information about Gaynor Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised at the point of sale.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of twelve 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.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on cost, 15% on cost and 10% on cost

Government grants
Government grants that relate to revenue are recognised in other income over the period in which the related costs are incurred. Grants related to expenses and covid-19 support are recognised in other income as the grant becomes receivable. Such grants occur as a re-imbursement for expenses already incurred and as a result of local authority and government covid-19 support measures.

Investment property
Investment property is included at fair value and any fair value adjustments are recognised in the income statement.

GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

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.

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 13 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 30,000
AMORTISATION
At 1 March 2022
and 28 February 2023 30,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 March 2022 1,157,637 140,446 1,298,083
Additions - 48,276 48,276
Disposals - (8,250 ) (8,250 )
At 28 February 2023 1,157,637 180,472 1,338,109
DEPRECIATION
At 1 March 2022 297,918 69,360 367,278
Charge for year 15,153 20,751 35,904
Eliminated on disposal - (1,750 ) (1,750 )
At 28 February 2023 313,071 88,361 401,432
NET BOOK VALUE
At 28 February 2023 844,566 92,111 936,677
At 28 February 2022 859,719 71,086 930,805

Included in cost or valuation of land and buildings is freehold land of £ 400,000 (2022 - £ 400,000 ) which is not depreciated.

Included in the net book value of plant and machinery are assets held under hire purchase contracts or finance leases with a carrying value of £81,534 (2022 - £60,107).

Fixed asset investments, being 100% of the issued share capital of its 2 subsidiary companies, have no material cost or value as they have both been dormant since incorporation.

Cost or valuation at 28 February 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2006 415,871 - 415,871
Cost 741,766 180,472 922,238
1,157,637 180,472 1,338,109

GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS - continued

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 741,766 741,766
Aggregate depreciation 212,660 202,615

Value of land in freehold land and buildings 400,000 400,000

Freehold land and buildings were valued on an open market basis on 28 February 2023 by the directors .

The directors are of the opinion that the freehold land and buildings net book value does not differ materially from its estimated realisable value.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 400,000
NET BOOK VALUE
At 28 February 2023 400,000
At 28 February 2022 400,000

Due to the existence of holdover relief and other interactions and issues, it not possible to accurately calculate the potential tax that could arise should the investment properties be sold for their revalued amounts and so no deferred tax provision has been included in these accounts.

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2006 34,129
Valuation in 2021 155,000
Cost 210,871
400,000

GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


6. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 210,871 210,871

Investment properties were valued on an open market basis on 28 February 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Sundry and other debtors 6,031 11,277

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 184,002 148,239
Hire purchase contracts 25,995 30,217
Trade creditors 3,177 2,484
Taxation and social security 17,487 11,525
Other creditors 38,779 23,059
269,440 215,524

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 381,594 452,753
Hire purchase contracts 18,963 15,994
400,557 468,747

GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 64,114 -
Bank loans 501,482 600,992
Hire purchase contracts 44,958 46,211
610,554 647,203

The bank overdraft and loan are secured by debenture with a fixed and floating charge against the assets of the company.

The hire-purchase creditors are secured against the related specific tangible fixed assets

11. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 March 2022 335,871 189,129 525,000
Revalued assets retained
earnings depreciation transfer (5,000 ) - (5,000 )

At 28 February 2023 330,871 189,129 520,000

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
D L Gaynor and K Gaynor
Balance outstanding at start of year - 56,055
Amounts repaid - (56,055 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

During the previous year, interest was charged on the overdrawn balance at HMRC approved rates.

13. RELATED PARTY DISCLOSURES

During the year, the company was in receipt of an interest free loan from its directors. The amount outstanding and due to the directors at the year end and included in other creditors was £20,149 (2022 - £8,771)