Registered number
05750702
Gorman Darby & Co Limited
Filleted Accounts
31 December 2023
Gorman Darby & Co Limited
Registered number: 05750702
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,982 510
Current assets
Debtors 4 27,737 118,916
Cash at bank and in hand 645,500 568,387
673,237 687,303
Creditors: amounts falling due within one year 5 (52,073) (81,231)
Net current assets 621,164 606,072
Net assets 625,146 606,582
Capital and reserves
Called up share capital 100 100
Profit and loss account 625,046 606,482
Shareholders' funds 625,146 606,582
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.
B Goman
Director
Approved by the board on 1 March 2024
Gorman Darby & Co Limited
Notes to the Accounts
for the year ended 31 December 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 comprises revenue earned from the rendering of services and 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:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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. Current and deferred tax assets and liabilities are not discounted.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 12,183
Additions 5,145
At 31 December 2023 17,328
Depreciation
At 1 January 2023 11,673
Charge for the year 1,673
At 31 December 2023 13,346
Net book value
At 31 December 2023 3,982
At 31 December 2022 510
4 Debtors 2023 2022
£ £
Trade debtors 17,843 86,956
Amounts recoverable on contracts - 20,161
Other debtors 9,894 11,799
27,737 118,916
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 45,055 50,912
Other creditors 7,018 30,319
52,073 81,231
6 Other information
Gorman Darby & Co Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Vincam Close
Twickenham
TW2 7AB
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