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REGISTERED NUMBER: 04437790 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Gisleham Industries Limited

Gisleham Industries Limited (Registered number: 04437790)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gisleham Industries Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mr P S Wright





REGISTERED OFFICE: 38 Pinbush Road
South Lowestoft Industrial Estate
Lowestoft
Suffolk
NR33 7NL





REGISTERED NUMBER: 04437790 (England and Wales)





ACCOUNTANTS: CUNNINGHAMS
Number Sixty One
Alexandra Road
Lowestoft
Suffolk
NR32 1PL

Gisleham Industries Limited (Registered number: 04437790)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 269,702 196,705
269,702 196,705

CURRENT ASSETS
Stocks 54,771 53,956
Debtors 6 292,785 177,855
Cash at bank and in hand 32,214 29,423
379,770 261,234
CREDITORS
Amounts falling due within one year 7 310,279 267,076
NET CURRENT ASSETS/(LIABILITIES) 69,491 (5,842 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

339,193

190,863

CREDITORS
Amounts falling due after more than one
year

8

(57,210

)

(35,000

)

PROVISIONS FOR LIABILITIES (51,206 ) (37,306 )
NET ASSETS 230,777 118,557

CAPITAL AND RESERVES
Called up share capital 902 902
Fair value reserve 10 88,715 88,715
Retained earnings 141,160 28,940
SHAREHOLDERS' FUNDS 230,777 118,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Gisleham Industries Limited (Registered number: 04437790)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 February 2024 and were signed by:





Mr P S Wright - Director


Gisleham Industries Limited (Registered number: 04437790)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Gisleham Industries 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.

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.

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

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.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance

Plant and machinery is carried under the revaluation model, being its fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses. Revaluations are carried our with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 15 (2022 - 15 ) .

Gisleham Industries Limited (Registered number: 04437790)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 22,000
AMORTISATION
At 1 July 2022
and 30 June 2023 22,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 July 2022 226,198
Additions 75,478
At 30 June 2023 301,676
DEPRECIATION
At 1 July 2022 29,493
Charge for year 2,481
At 30 June 2023 31,974
NET BOOK VALUE
At 30 June 2023 269,702
At 30 June 2022 196,705

Cost or valuation at 30 June 2023 is represented by:

Plant and
machinery
etc
£   
Valuation in 2020 (5,309 )
Cost 306,985
301,676

Gisleham Industries Limited (Registered number: 04437790)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS - continued

If plant and machinery had not been revalued it would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 186,004 186,004
Aggregate depreciation 132,815 132,815

Plant and machinery was valued on an open market basis on 30 June 2020 by the directors .


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 270,493 163,229
Other debtors 22,292 14,626
292,785 177,855

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 16,201 1,369
Trade creditors 111,980 84,379
Taxation and social security 52,273 39,606
Other creditors 129,825 141,722
310,279 267,076

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 32,210 -
Other creditors 25,000 35,000
57,210 35,000

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Hire purchase contracts 48,411 1,369

Other creditors are secured by fixed and floating charges over the company's assets. Hire purchase liabilities are secured on the underlying assets.

Gisleham Industries Limited (Registered number: 04437790)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

10. RESERVES
Fair
value
reserve
£   
At 1 July 2022
and 30 June 2023 88,715

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
Mr P S Wright
Balance outstanding at start of year 6,494 3,568
Amounts repaid (6,494 ) (3,568 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,736 6,494