Registered number
14341814
Gunnell Brothers Percussion Hire Ltd
Filleted Accounts
30 September 2023
Gunnell Brothers Percussion Hire Ltd
Registered number: 14341814
Balance Sheet
as at 30 September 2023
Notes 2023
£
Fixed assets
Tangible assets 3 17,800
Current assets
Debtors 4 12,314
Cash at bank and in hand 8,689
21,003
Creditors: amounts falling due within one year 5 (10,381)
Net current assets 10,622
Total assets less current liabilities 28,422
Provisions for liabilities (3,400)
Net assets 25,022
Capital and reserves
Called up share capital 2
Profit and loss account 25,020
Shareholders' funds 25,022
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Timothy Morton Gunnell
Director
Approved by the board on 22 January 2024
Gunnell Brothers Percussion Hire Ltd
Notes to the Accounts
for the period from 7 September 2022 to 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Instruments & Equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023
Number
Average number of persons employed by the company 2
3 Tangible fixed assets
Instruments/Equipment
£
Cost
Additions 23,772
At 30 September 2023 23,772
Depreciation
Charge for the period 5,972
At 30 September 2023 5,972
Net book value
At 30 September 2023 17,800
4 Debtors 2023
£
Trade debtors 12,314
5 Creditors: amounts falling due within one year 2023
£
Taxation and social security costs 8,021
Directors' Loan Accounts 1,347
Other creditors 1,013
10,381
6 Other information
Gunnell Brothers Percussion Hire Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 10 Houghton Hill Industries
Houghton
Huntington
Cambridgeshire
PE28 2DH
Gunnell Brothers Percussion Hire Ltd 14341814 false 2022-09-07 2023-09-30 2023-09-30 VT Final Accounts October 2023 release 2 Timothy Morton Gunnell No description of principal activity 14341814 2022-09-07 2023-09-30 14341814 bus:PrivateLimitedCompanyLtd 2022-09-07 2023-09-30 14341814 bus:AuditExemptWithAccountantsReport 2022-09-07 2023-09-30 14341814 bus:Director40 2022-09-07 2023-09-30 14341814 1 2022-09-07 2023-09-30 14341814 2 2022-09-07 2023-09-30 14341814 countries:England 2022-09-07 2023-09-30 14341814 bus:FRS102 2022-09-07 2023-09-30 14341814 bus:FullAccounts 2022-09-07 2023-09-30 14341814 2023-09-30 14341814 core:WithinOneYear 2023-09-30 14341814 core:ShareCapital 2023-09-30 14341814 core:RetainedEarningsAccumulatedLosses 2023-09-30 14341814 2022-09-06 iso4217:GBP xbrli:pure