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REGISTERED NUMBER: 05935700 (England and Wales)















GMS Bespoke Joinery Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023






GMS Bespoke Joinery Limited (Registered number: 05935700)

Contents of the Financial Statements
for the year ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GMS Bespoke Joinery Limited

Company Information
for the year ended 31 October 2023







Directors: C Sheridan
J Moyles





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 05935700 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

GMS Bespoke Joinery Limited (Registered number: 05935700)

Balance Sheet
31 October 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 31,153 21,575

Current assets
Stocks 302,892 333,528
Debtors 5 59,932 182,666
Cash at bank 63,750 130,674
426,574 646,868
Creditors
Amounts falling due within one year 6 109,371 332,439
Net current assets 317,203 314,429
Total assets less current liabilities 348,356 336,004

Creditors
Amounts falling due after more than one
year

7

8,944

-
Net assets 339,412 336,004

Capital and reserves
Called up share capital 10 15,000 15,000
Retained earnings 11 324,412 321,004
Shareholders' funds 339,412 336,004

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

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

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 Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by:





C Sheridan - Director


GMS Bespoke Joinery Limited (Registered number: 05935700)

Notes to the Financial Statements
for the year ended 31 October 2023


1. Statutory information

GMS Bespoke Joinery 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on cost and 20% on reducing balance
Motor vehicles - 20% on cost

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 ) .

GMS Bespoke Joinery Limited (Registered number: 05935700)

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


4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
Cost
At 1 November 2022 111,754 9,442 41,671 162,867
Additions - - 14,999 14,999
Disposals - (398 ) (8,200 ) (8,598 )
At 31 October 2023 111,754 9,044 48,470 169,268
Depreciation
At 1 November 2022 98,258 8,780 34,254 141,292
Charge for year 2,699 127 2,570 5,396
Eliminated on disposal - (373 ) (8,200 ) (8,573 )
At 31 October 2023 100,957 8,534 28,624 138,115
Net book value
At 31 October 2023 10,797 510 19,846 31,153
At 31 October 2022 13,496 662 7,417 21,575

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 42,150 165,697
Other debtors 17,782 16,969
59,932 182,666

6. Creditors: amounts falling due within one year
2023 2022
£ £
Hire purchase contracts (see note 8) 4,665 -
Trade creditors 29,078 83,140
Amounts owed to group undertakings - 4,449
Taxation and social security 16,469 39,014
Other creditors 59,159 205,836
109,371 332,439

7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Hire purchase contracts (see note 8) 8,944 -

GMS Bespoke Joinery Limited (Registered number: 05935700)

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


8. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£ £
Net obligations repayable:
Within one year 4,665 -
Between one and five years 8,944 -
13,609 -

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 13,609 -

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
5,000 Ordinary A shares of £1 1 5,000 5,000
5,000 Ordinary B shares of £1 1 5,000 5,000
5,000 Ordinary C shares of £1 1 5,000 5,000
15,000 15,000

11. Reserves
Retained
earnings
£

At 1 November 2022 321,004
Profit for the year 3,408
At 31 October 2023 324,412

12. Related party disclosures

During the period, purchases of £55,071 (2022: £96,066) were made from a connected company, of which £1,900 (2022: £46,048) was payable at the year end.

During the period, sales of £NIL (2022: £76,193) were made to connected companies, of which £21,000 (2022: £91,432) was receivable at the year end.