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Company Registration No. 12735744 (England and Wales)
Martin Gaylard Speciality Cheese Ltd Unaudited accounts for the year ended 31 July 2023
Martin Gaylard Speciality Cheese Ltd Unaudited accounts Contents
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Martin Gaylard Speciality Cheese Ltd Company Information for the year ended 31 July 2023
Directors
Martin Gaylard Emma Gaylard
Company Number
12735744 (England and Wales)
Registered Office
Unit 3b Rosevear Rd Ind-Est Rosevear Road Bugle Cornwall PL26 8PJ
Accountants
Linggard and Thomas Kew an Lergh Stret Myghtern Arthur Nansledan Cornwall TR8 4UX
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Martin Gaylard Speciality Cheese Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
63,374 
19,691 
Current assets
Inventories
2,694 
3,853 
Debtors
17,511 
24,705 
Cash at bank and in hand
9,012 
8,694 
29,217 
37,252 
Creditors: amounts falling due within one year
(64,446)
(29,052)
Net current (liabilities)/assets
(35,229)
8,200 
Total assets less current liabilities
28,145 
27,891 
Creditors: amounts falling due after more than one year
(16,562)
(9,667)
Provisions for liabilities
Deferred tax
(5,450)
(2,282)
Net assets
6,133 
15,942 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
6,033 
15,842 
Shareholders' funds
6,133 
15,942 
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 9 February 2024 and were signed on its behalf by
Martin Gaylard Director Company Registration No. 12735744
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Martin Gaylard Speciality Cheese Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Martin Gaylard Speciality Cheese Ltd is a private company, limited by shares, registered in England and Wales, registration number 12735744. The registered office is Unit 3b Rosevear Rd Ind-Est, Rosevear Road, Bugle, Cornwall, PL26 8PJ.
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 as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5yr Straight Line
Plant & machinery
20% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 assets and liabilities are not discounted.
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Martin Gaylard Speciality Cheese Ltd Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2022
- 
27,285 
500 
1,057 
28,842 
Additions
28,549 
2,494 
18,999 
6,504 
56,546 
At 31 July 2023
28,549 
29,779 
19,499 
7,561 
85,388 
Depreciation
At 1 August 2022
- 
8,510 
219 
422 
9,151 
Charge for the year
5,710 
3,960 
2,841 
352 
12,863 
At 31 July 2023
5,710 
12,470 
3,060 
774 
22,014 
Net book value
At 31 July 2023
22,839 
17,309 
16,439 
6,787 
63,374 
At 31 July 2022
- 
18,775 
281 
635 
19,691 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
3,706 
3,811 
Trade debtors
8,660 
14,106 
Other debtors
5,145 
6,788 
17,511 
24,705 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
4,852 
15,000 
Obligations under finance leases and hire purchase contracts
2,755 
- 
Trade creditors
6,424 
4,775 
Taxes and social security
607 
5,145 
Other creditors
361 
2,032 
Loans from directors
48,234 
- 
Accruals
1,213 
2,100 
64,446 
29,052 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
4,674 
9,667 
Obligations under finance leases and hire purchase contracts
11,888 
- 
16,562 
9,667 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Martin Gaylard Speciality Cheese Ltd Notes to the Accounts for the year ended 31 July 2023
9
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
11,981 
11,981 
Later than one year and not later than five years
31,950 
40,519 
43,931 
52,500 
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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