20 false false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,200,000 325,000 875,000 875,000 1 1 1 xbrli:pure xbrli:shares iso4217:GBP 04701349 2022-05-01 2023-07-31 04701349 2023-07-31 04701349 2022-04-30 04701349 2021-05-01 2022-04-30 04701349 2022-04-30 04701349 2021-04-30 04701349 core:NetGoodwill 2022-05-01 2023-07-31 04701349 bus:Director2 2022-05-01 2023-07-31 04701349 core:NetGoodwill 2023-07-31 04701349 core:LandBuildings 2022-04-30 04701349 core:FurnitureFittings 2022-04-30 04701349 core:LandBuildings 2023-07-31 04701349 core:WithinOneYear 2023-07-31 04701349 core:WithinOneYear 2022-04-30 04701349 core:AfterOneYear 2023-07-31 04701349 core:AfterOneYear 2022-04-30 04701349 core:FurnitureFittings 2022-05-01 2023-07-31 04701349 core:ShareCapital 2023-07-31 04701349 core:ShareCapital 2022-04-30 04701349 core:RetainedEarningsAccumulatedLosses 2023-07-31 04701349 core:RetainedEarningsAccumulatedLosses 2022-04-30 04701349 core:MoreThanFiveYears 2023-07-31 04701349 core:MoreThanFiveYears 2022-04-30 04701349 core:NetGoodwill 2022-04-30 04701349 core:CostValuation core:Non-currentFinancialInstruments 2022-04-30 04701349 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-07-31 04701349 core:Non-currentFinancialInstruments 2022-04-30 04701349 core:FurnitureFittings 2022-04-30 04701349 bus:SmallEntities 2022-05-01 2023-07-31 04701349 bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-07-31 04701349 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-07-31 04701349 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-07-31 04701349 bus:FullAccounts 2022-05-01 2023-07-31 04701349 core:OtherAssociatesTotalIndividuallyImmaterialAssociates 2022-05-01 2023-07-31
COMPANY REGISTRATION NUMBER: 04701349
Garratts Wolverhampton Limited
Filleted Unaudited Financial Statements
31 July 2023
Garratts Wolverhampton Limited
Statement of Financial Position
31 July 2023
31 Jul 23
30 Apr 22
Note
£
£
Fixed assets
Intangible assets
5
875,000
875,000
Tangible assets
6
25,983
Investments
7
1
---------
---------
875,000
900,984
Current assets
Work in progress
100,000
87,299
Debtors
8
615,725
628,070
Cash at bank and in hand
716,087
448,043
------------
------------
1,431,812
1,163,412
Creditors: amounts falling due within one year
9
184,327
200,166
------------
------------
Net current assets
1,247,485
963,246
------------
------------
Total assets less current liabilities
2,122,485
1,864,230
Creditors: amounts falling due after more than one year
10
282,192
356,276
------------
------------
Net assets
1,840,293
1,507,954
------------
------------
Garratts Wolverhampton Limited
Statement of Financial Position (continued)
31 July 2023
31 Jul 23
30 Apr 22
Note
£
£
Capital and reserves
Called up share capital
1,128
1,128
Profit and loss account
1,839,165
1,506,826
------------
------------
Shareholders funds
1,840,293
1,507,954
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 July 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr J T Hitchen
Director
Company registration number: 04701349
Garratts Wolverhampton Limited
Notes to the Financial Statements
Period from 1 May 2022 to 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Waterloo Road, Wolverhampton, WV1 4DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Goodwill
Purchased goodwill is stated at the lower of cost and market value. The carrying value is reviewed annually for impairment and provision made for any depletion in value.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
All the assets have been fully depreciated.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Particulars of employees
The average number of persons employed by the company during the period amounted to 20 (2022: 20 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2022 and 31 July 2023
1,200,000
------------
Amortisation
At 1 May 2022 and 31 July 2023
325,000
------------
Carrying amount
At 31 July 2023
875,000
------------
At 30 April 2022
875,000
------------
6. Tangible assets
Leasehold premises
Fixtures and fittings
Total
£
£
£
Cost
At 1 May 2022
37,792
314,286
352,078
Disposals
( 314,286)
( 314,286)
---------
---------
---------
At 31 July 2023
37,792
37,792
---------
---------
---------
Depreciation
At 1 May 2022
37,792
288,303
326,095
Charge for the period
10,688
10,688
Disposals
( 298,991)
( 298,991)
---------
---------
---------
At 31 July 2023
37,792
37,792
---------
---------
---------
Carrying amount
At 31 July 2023
---------
---------
---------
At 30 April 2022
25,983
25,983
---------
---------
---------
7. Investments
Shares in participating interests
£
Cost
At 1 May 2022
1
Disposals
( 1)
---------
At 31 July 2023
---------
Impairment
At 1 May 2022 and 31 July 2023
---------
Carrying amount
At 31 July 2023
---------
At 30 April 2022
1
---------
8. Debtors
31 Jul 23
30 Apr 22
£
£
Trade debtors
592,622
619,166
Other debtors
23,103
8,904
---------
---------
615,725
628,070
---------
---------
9. Creditors: amounts falling due within one year
31 Jul 23
30 Apr 22
£
£
Trade creditors
11,777
9,564
Corporation tax
103,810
71,148
Social security and other taxes
54,150
57,572
Other creditors
14,590
61,882
---------
---------
184,327
200,166
---------
---------
10. Creditors: amounts falling due after more than one year
31 Jul 23
30 Apr 22
£
£
Directors' loan accounts
282,192
356,276
---------
---------
11. Commitments under operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
31 Jul 23
30 Apr 22
£
£
Later than 5 years
80,000
80,000
---------
---------
12. Related party transactions
The company operates from premises which are partly owned by the directors' personal pension schemes. Rent paid during the period amounted to £100,000 (2022: £80,000).