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REGISTERED NUMBER: 09805602 (England and Wales)















Financial Statements for the Year Ended 31 October 2023

for

Gatward & Sons Ltd

Gatward & Sons Ltd (Registered number: 09805602)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gatward & Sons Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: M Gatward
C R Gatward
A P Gatward





SECRETARY: S Gatward





REGISTERED OFFICE: 55 Hawthorne Road
Stapleford
Cambridge
United Kingdom
CB22 5DU





REGISTERED NUMBER: 09805602 (England and Wales)





ACCOUNTANTS: Taylor Keeble LLP
Chartered Accountants
9 Caxton House
Broad Street
Cambourne
Cambridgeshire
CB23 6JN

Gatward & Sons Ltd (Registered number: 09805602)

Balance Sheet
31 October 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,326 11,132
34,326 11,132

CURRENT ASSETS
Stocks 2,880 4,800
Debtors 6 137,874 170,269
Cash at bank 277,874 339,097
418,628 514,166
CREDITORS
Amounts falling due within one year 7 150,824 195,521
NET CURRENT ASSETS 267,804 318,645
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,130

329,777

PROVISIONS FOR LIABILITIES 7,727 2,124
NET ASSETS 294,403 327,653

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 294,303 327,553
294,403 327,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Gatward & Sons Ltd (Registered number: 09805602)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:




A P Gatward - Director



C R Gatward - Director


Gatward & Sons Ltd (Registered number: 09805602)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Gatward & Sons Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2015, was amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

Motor vehicles - 25% reducing balance
Equipment - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Gatward & Sons Ltd (Registered number: 09805602)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 November 2022
and 31 October 2023 10,000
AMORTISATION
At 1 November 2022
and 31 October 2023 10,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Gatward & Sons Ltd (Registered number: 09805602)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£ £ £
COST
At 1 November 2022 18,841 28,056 46,897
Additions 3,380 28,450 31,830
Disposals (6,565 ) (8,945 ) (15,510 )
At 31 October 2023 15,656 47,561 63,217
DEPRECIATION
At 1 November 2022 12,503 23,262 35,765
Charge for year 1,649 3,172 4,821
Eliminated on disposal (4,342 ) (7,353 ) (11,695 )
At 31 October 2023 9,810 19,081 28,891
NET BOOK VALUE
At 31 October 2023 5,846 28,480 34,326
At 31 October 2022 6,338 4,794 11,132

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 26,020 1,187
Other debtors 111,854 169,082
137,874 170,269

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 29,603 11,470
Taxation and social security 49,737 95,214
Other creditors 71,484 88,837
150,824 195,521

Gatward & Sons Ltd (Registered number: 09805602)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. RELATED PARTY DISCLOSURES

Gatward & Sons Developments Ltd

Gatward & Sons Developments Ltd is a company which is owned and controlled by the directors of Gatward & Sons Ltd. At 31st October 2023 a loan balance of £108,335 was due from Gatward & Sons Developments Ltd (2022- £108,310). This amount is repayable on demand.


Gatward Construction Ltd

Gatward Construction Ltd is a company which is owned and controlled by one of the the directors of Gatward & Sons Ltd. During the year Gatward & Sons Ltd sold fixed assets at a market value of £1582 to the director of Gatward Construction Ltd.