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Company Registration No. 07380272 (England and Wales)
GLADSTONE & CO. LTD Unaudited Financial Statements for the year ended 31 March 2024
GLADSTONE & CO. LTD Unaudited Financial Statements Contents
Page
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GLADSTONE & CO. LTD Company Information for the year ended 31 March 2024
Directors
M S Quadri S S Quadri
Secretary
M QUADRI
Company Number
07380272 (England and Wales)
Registered Office
75 CREIGHTON AVENUE EAST HAM LONDON E6 3DT ENGLAND
Accountants
Gladstone & Co. Accountants 75 Creighton Avenue East Ham London E6 3DT
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GLADSTONE & CO. LTD Accountants' report
Accountants' report to the board of directors of GLADSTONE & CO. LTD on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GLADSTONE & CO. LTD for the year ended 31 March 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of GLADSTONE & CO. LTD, as a body, in accordance with the terms of our engagement letter dated 17 September 2010. Our work has been undertaken solely to prepare for your approval the accounts of GLADSTONE & CO. LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GLADSTONE & CO. LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that GLADSTONE & CO. LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of GLADSTONE & CO. LTD. You consider that GLADSTONE & CO. LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of GLADSTONE & CO. LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Gladstone & Co. Accountants 75 Creighton Avenue East Ham London E6 3DT 29 July 2024
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GLADSTONE & CO. LTD Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,111 
- 
Current assets
Debtors
57,242 
20,544 
Cash at bank and in hand
31,504 
94,146 
88,746 
114,690 
Creditors: amounts falling due within one year
(40,204)
(31,080)
Net current assets
48,542 
83,610 
Net assets
51,653 
83,610 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
51,553 
83,510 
Shareholders' funds
51,653 
83,610 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by
M S Quadri Director Company Registration No. 07380272
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GLADSTONE & CO. LTD Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
GLADSTONE & CO. LTD is a private company, limited by shares, registered in England and Wales, registration number 07380272. The registered office is 75 CREIGHTON AVENUE, EAST HAM, LONDON, E6 3DT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25%
Computer equipment
33%
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. All other grants received are credited to profit and loss.
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GLADSTONE & CO. LTD Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2023
- 
Additions
4,149 
At 31 March 2024
4,149 
Depreciation
Charge for the year
1,038 
At 31 March 2024
1,038 
Net book value
At 31 March 2024
3,111 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
21,570 
- 
Other debtors
23,720 
8,544 
45,290 
8,544 
Amounts falling due after more than one year
Other debtors
11,952 
12,000 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
7,980 
6,879 
Taxes and social security
3,489 
348 
Other creditors
2,991 
1,119 
Loans from directors
25,744 
22,734 
40,204 
31,080 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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GLADSTONE & CO. LTD Notes to the Accounts for the year ended 31 March 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Current Account
(11,367)
(1,505)
- 
(12,872)
Current Account
(11,367)
(1,505)
- 
(12,872)
(22,734)
(3,010)
- 
(25,744)
Included in creditors is an amount due to be paid by the company to the directors as at the balance sheet date. The amount repayable carries no interest and there is no fixed date of repayment.
9
Transactions with related parties
Dividends totalling £75,000 (2023 - £60,000) were paid in the year in respect of shares held by the company's directors.
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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