Gummer Leathes Limited 12677824 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of real estate development. Digita Accounts Production Advanced 6.30.9574.0 true true 12677824 2022-07-01 2023-06-30 12677824 2023-06-30 12677824 core:CurrentFinancialInstruments 2023-06-30 12677824 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 12677824 core:FurnitureFittingsToolsEquipment 2023-06-30 12677824 bus:SmallEntities 2022-07-01 2023-06-30 12677824 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 12677824 bus:FullAccounts 2022-07-01 2023-06-30 12677824 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 12677824 bus:RegisteredOffice 2022-07-01 2023-06-30 12677824 bus:Director1 2022-07-01 2023-06-30 12677824 bus:Director2 2022-07-01 2023-06-30 12677824 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 12677824 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 12677824 core:OfficeEquipment 2022-07-01 2023-06-30 12677824 1 2022-07-01 2023-06-30 12677824 countries:EnglandWales 2022-07-01 2023-06-30 12677824 2022-06-30 12677824 core:FurnitureFittingsToolsEquipment 2022-06-30 12677824 2021-07-01 2022-06-30 12677824 2022-06-30 12677824 core:CurrentFinancialInstruments 2022-06-30 12677824 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 12677824 core:FurnitureFittingsToolsEquipment 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 12677824

Gummer Leathes Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Gummer Leathes Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Gummer Leathes Limited

Company Information

Directors

B M Gummer

T Leathes

Registered office

80 Petty France
London
SW1H 9EX

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Gummer Leathes Limited

Statement of Financial Position as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

21,192

1,565

Investments

1

1

 

21,193

1,566

Current assets

 

Debtors

5

316,016

240,497

Cash at bank and in hand

 

86,551

85,091

 

402,567

325,588

Creditors: Amounts falling due within one year

6

(260,076)

(282,227)

Net current assets

 

142,491

43,361

Total assets less current liabilities

 

163,684

44,927

Provisions for liabilities

(5,298)

-

Net assets

 

158,386

44,927

Capital and reserves

 

Called up share capital

2

2

Retained earnings

158,384

44,925

Shareholders' funds

 

158,386

44,927

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Gummer Leathes Limited

Statement of Financial Position as at 30 June 2023

Approved and authorised by the Board on 15 February 2024 and signed on its behalf by:
 

.........................................

B M Gummer

Director

Company registration number: 12677824

 

Gummer Leathes Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
80 Petty France
London
SW1H 9EX

The principal activity of the company is that of real estate development.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year ended 30 June 2023 and had net assets at that date amounting to £158,386. The company continues to trade profitably and the directors do not anticipate that the economic environment or global conflict will materially affect the company.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue from developments based upon the stage of contractual completion.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Gummer Leathes Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Straight line over 3 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Gummer Leathes Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 5 (2022 - 2).

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 July 2022

2,882

2,882

Additions

21,874

21,874

At 30 June 2023

24,756

24,756

Depreciation

At 1 July 2022

1,317

1,317

Charge for the year

2,247

2,247

At 30 June 2023

3,564

3,564

Carrying amount

At 30 June 2023

21,192

21,192

At 30 June 2022

1,565

1,565

 

Gummer Leathes Limited

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

5

Debtors

2023
£

2022
£

Trade debtors

126,214

228,915

Amounts owed by group undertakings

97,159

7,293

Other debtors

92,643

4,289

316,016

240,497

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

144,126

229,746

Taxation and social security

85,123

47,818

Accruals and deferred income

20,434

4,454

Other creditors

10,393

209

260,076

282,227

7

Transactions with directors

At 30 June 2023 an amount of £309 (2022: £496) was due from a director. During the year there were advances of £917 and repayments of £1,104. No interest was charged and there are no terms in place.

8

Non adjusting events after the financial period

Subsequent to 30th June 2023 the company entered into a commitment for an amount of £146,475.