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
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
Martin Gaylard Speciality Cheese Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
63,374
19,691
Cash at bank and in hand
9,012
8,694
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)
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
Martin Gaylard Speciality Cheese Ltd
Notes to the Accounts
for the year ended 31 July 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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 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.
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
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
At 31 July 2023
22,839
17,309
16,439
6,787
63,374
At 31 July 2022
-
18,775
281
635
19,691
Amounts falling due within one year
Trade debtors
8,660
14,106
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
Loans from directors
48,234
-
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
11,888
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).