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REGISTERED NUMBER: 00891906 (England and Wales)















GRAHAM GILL CARPETS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






GRAHAM GILL CARPETS LIMITED (REGISTERED NUMBER: 00891906)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5

Accountants' Report 6

GRAHAM GILL CARPETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: R I Crunkhorn
P Crunkhorn





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: 24 West Street
Boston
Lincolnshire
PE21 8QH





REGISTERED NUMBER: 00891906 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

GRAHAM GILL CARPETS LIMITED (REGISTERED NUMBER: 00891906)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,360 13,364

CURRENT ASSETS
Stocks 14,863 9,692
Debtors 5 37,197 55,684
Cash at bank 11,338 20,968
63,398 86,344
CREDITORS
Amounts falling due within one year 6 20,093 23,485
NET CURRENT ASSETS 43,305 62,859
TOTAL ASSETS LESS CURRENT LIABILITIES 54,665 76,223

CREDITORS
Amounts falling due after more than one year 7 (3,482 ) (5,496 )

PROVISIONS FOR LIABILITIES (2,158 ) (2,539 )
NET ASSETS 49,025 68,188

CAPITAL AND RESERVES
Called up share capital 8 400 400
Retained earnings 48,625 67,788
SHAREHOLDERS' FUNDS 49,025 68,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 8 August 2024 and were signed on its behalf by:





R I Crunkhorn - Director


GRAHAM GILL CARPETS LIMITED (REGISTERED NUMBER: 00891906)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Graham Gill Carpets Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving and obsolete 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 3 (2022 - 3 ) .

GRAHAM GILL CARPETS LIMITED (REGISTERED NUMBER: 00891906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 24,713
DEPRECIATION
At 1 December 2022 11,349
Charge for year 2,004
At 30 November 2023 13,353
NET BOOK VALUE
At 30 November 2023 11,360
At 30 November 2022 13,364

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 450 5,660
Other debtors 36,747 50,024
37,197 55,684

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,014 1,964
Trade creditors 6,520 7,160
Taxation and social security 9,301 12,277
Other creditors 2,258 2,084
20,093 23,485

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 3,482 5,496

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary A £1 200 200
100 Ordinary B £1 100 200
100 Ordinary C £1 100 -
400 400

100 Ordinary C shares of £1 each were allotted and fully paid for cash at par during the year.

GRAHAM GILL CARPETS LIMITED (REGISTERED NUMBER: 00891906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
P Crunkhorn
Balance outstanding at start of year 19,912 19,705
Amounts advanced 25,405 20,207
Amounts repaid (20,000 ) (20,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,317 19,912

S Crunkhorn (Deceased)
Balance outstanding at start of year 15,912 19,705
Amounts advanced 1,818 16,207
Amounts repaid (17,730 ) (20,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 15,912

R I Crunkhorn
Balance outstanding at start of year 10,815 14,994
Amounts advanced 8,514 15,821
Amounts repaid (11,000 ) (20,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,329 10,815

Interest on overdrawn directors loan accounts is charged at the official rate. The balances outstanding at the end of the year are unsecured and repayable on demand.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GRAHAM GILL CARPETS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Graham Gill Carpets Limited for the year ended 30 November 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes 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 Graham Gill Carpets Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Graham Gill Carpets Limited and state those matters that we have agreed to state to the Board of Directors of Graham Gill Carpets Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Graham Gill Carpets Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Graham Gill Carpets Limited. You consider that Graham Gill Carpets Limited 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 financial statements of Graham Gill Carpets Limited. 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 financial statements.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


Date: .............................................