Company registration number 10151724 (England and Wales)
GARDWELL EA LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
PAGES FOR FILING WITH REGISTRAR
GARDWELL EA LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GARDWELL EA LTD
BALANCE SHEET
AS AT
31 MAY 2022
31 May 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,474
12,767
Current assets
Stocks
126,286
109,014
Debtors
4
378,219
347,475
Cash at bank and in hand
28,565
41,271
533,070
497,760
Creditors: amounts falling due within one year
5
(443,534)
(397,145)
Net current assets
89,536
100,615
Total assets less current liabilities
99,010
113,382
Creditors: amounts falling due after more than one year
6
(31,667)
(50,000)
Provisions for liabilities
(1,800)
(2,426)
Net assets
65,543
60,956
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
65,542
60,955
Total equity
65,543
60,956

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GARDWELL EA LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2022
31 May 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 24 November 2023
Mr AP M Robertson-Young
Director
Company Registration No. 10151724
GARDWELL EA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
- 3 -
1
Accounting policies
Company information

Gardwell EA Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Union Building, 51-59 Rose Lane, Norwich, Norfolk, England, NR1 1BY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
- 20% reducing balance
Fixtures and fittings
- 20% reducing balance
Computers
- 20% straight line
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GARDWELL EA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
7
7
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2021 and 31 May 2022
26,162
Depreciation and impairment
At 1 June 2021
13,394
Depreciation charged in the year
3,294
At 31 May 2022
16,688
Carrying amount
At 31 May 2022
9,474
At 31 May 2021
12,767
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
136,844
128,771
Other debtors
241,375
218,704
378,219
347,475
GARDWELL EA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 5 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
9,167
-
0
Trade creditors
165,467
157,202
Taxation and social security
99,569
98,329
Other creditors
169,331
141,614
443,534
397,145
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
31,667
50,000
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