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REGISTERED NUMBER: 02050212 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st March 2023

for

M. Garton & Son Limited

M. Garton & Son Limited (Registered number: 02050212)






Contents of the Financial Statements
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

M. Garton & Son Limited

Company Information
for the year ended 31st March 2023







DIRECTORS: M M Garton
Mrs A.A. Imison
G.W. Imison



SECRETARY: M M Garton



REGISTERED OFFICE: 546 Anlaby Road
Hull
East Yorkshire
HU3 6SY



REGISTERED NUMBER: 02050212 (England and Wales)



ACCOUNTANTS: Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Barclays Bank plc
Humber & Lincolnshire Team
4th Floor
2 Humber Quays
Hull
HU1 2BN

M. Garton & Son Limited (Registered number: 02050212)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 465,098 579,654
Investment property 6 287,846 -
752,944 579,654

CURRENT ASSETS
Stocks 24,033 20,894
Debtors 7 59,414 73,930
Cash at bank and in hand 213,283 175,294
296,730 270,118
CREDITORS
Amounts falling due within one year 8 235,109 157,816
NET CURRENT ASSETS 61,621 112,302
TOTAL ASSETS LESS CURRENT
LIABILITIES

814,565

691,956

CREDITORS
Amounts falling due after more than one
year

9

(98,187

)

(99,495

)

PROVISIONS FOR LIABILITIES (31,496 ) (35,831 )
NET ASSETS 684,882 556,630

CAPITAL AND RESERVES
Called up share capital 10 3,600 3,600
Retained earnings 681,282 553,030
SHAREHOLDERS' FUNDS 684,882 556,630

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

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

M. Garton & Son Limited (Registered number: 02050212)

Balance Sheet - continued
31st March 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 12th July 2023 and were signed on its behalf by:





M M Garton - Director


M. Garton & Son Limited (Registered number: 02050212)

Notes to the Financial Statements
for the year ended 31st March 2023

1. STATUTORY INFORMATION

M. Garton & Son 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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, has been amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


M. Garton & Son Limited (Registered number: 02050212)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 18 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 42,495
AMORTISATION
At 1st April 2022
and 31st March 2023 42,495
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

M. Garton & Son Limited (Registered number: 02050212)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2022 276,811 761,913 1,038,724
Additions - 104,953 104,953
Disposals (112,722 ) (75,543 ) (188,265 )
At 31st March 2023 164,089 791,323 955,412
DEPRECIATION
At 1st April 2022 - 459,070 459,070
Charge for year - 78,417 78,417
Eliminated on disposal - (47,173 ) (47,173 )
At 31st March 2023 - 490,314 490,314
NET BOOK VALUE
At 31st March 2023 164,089 301,009 465,098
At 31st March 2022 276,811 302,843 579,654

The net book value of tangible fixed assets includes £ 202,307 (2022 - £ 186,994 ) in respect of assets held under hire purchase contracts.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 287,846
At 31st March 2023 287,846
NET BOOK VALUE
At 31st March 2023 287,846

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 41,907 58,274
Other debtors 17,507 15,656
59,414 73,930

M. Garton & Son Limited (Registered number: 02050212)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 45,549 43,414
Trade creditors 57,627 41,955
Taxation and social security 70,753 9,891
Other creditors 61,180 62,556
235,109 157,816

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 98,187 99,495

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,600 Ordinary £1 3,600 3,600

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
M. Garton & Son Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M. Garton & Son Limited for the year ended 31st March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of M. Garton & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M. Garton & Son Limited and state those matters that we have agreed to state to the Board of Directors of M. Garton & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M. Garton & Son Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that M. Garton & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M. Garton & Son Limited. You consider that M. Garton & Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of M. Garton & Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX


14th July 2023