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GEORGE'S TRADITION (DERBY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEORGE'S TRADITION (DERBY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: C G Constantinou
Mrs X Constantinou





REGISTERED OFFICE: 52 Broad Street
Leek
Staffordshire
ST13 5NS





REGISTERED NUMBER: 07253135 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 31,493 35,185
Tangible assets 5 307,796 305,293
339,289 340,478

CURRENT ASSETS
Stocks 14,500 11,780
Debtors 6 429,653 434,440
Cash at bank and in hand 173,522 183,307
617,675 629,527
CREDITORS
Amounts falling due within one year 7 281,592 265,544
NET CURRENT ASSETS 336,083 363,983
TOTAL ASSETS LESS CURRENT LIABILITIES 675,372 704,461

CREDITORS
Amounts falling due after more than one year 8 (59,664 ) (103,903 )

PROVISIONS FOR LIABILITIES 11 (32,900 ) (34,200 )
NET ASSETS 582,808 566,358

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Retained earnings 581,808 565,358
SHAREHOLDERS' FUNDS 582,808 566,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

BALANCE SHEET - continued
31 JANUARY 2024


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 10 August 2024 and were signed on its behalf by:





C G Constantinou - Director


GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

George's Tradition (Derby) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 4% on cost
Plant and machinery - 8.33% on cost
Fixtures and fittings - 12.5% on cost
Computer equipment - 12.5% on cost

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 73,833
AMORTISATION
At 1 February 2023 38,648
Amortisation for year 3,692
At 31 January 2024 42,340
NET BOOK VALUE
At 31 January 2024 31,493
At 31 January 2023 35,185

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 256,461 153,815 26,889 20,498 457,663
Additions 26,594 1,200 4,795 - 32,589
At 31 January 2024 283,055 155,015 31,684 20,498 490,252
DEPRECIATION
At 1 February 2023 63,553 61,758 12,818 14,241 152,370
Charge for year 13,025 11,921 3,290 1,850 30,086
At 31 January 2024 76,578 73,679 16,108 16,091 182,456
NET BOOK VALUE
At 31 January 2024 206,477 81,336 15,576 4,407 307,796
At 31 January 2023 192,908 92,057 14,071 6,257 305,293

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,032 3,118
Amounts owed by participating interests 410,617 424,029
Other debtors 7,004 7,293
429,653 434,440

GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 38,512 32,232
Trade creditors 53,584 52,857
Taxation and social security 77,105 74,463
Other creditors 112,391 105,992
281,592 265,544

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 59,664 103,903

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 30,400 29,305
Between one and five years 109,850 121,600
In more than five years 178,975 197,368
319,225 348,273

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 74,065 102,113

Bank loans are secured by way of a fixed and floating charge over the assets of the company.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 32,900 34,200

Deferred
tax
£   
Balance at 1 February 2023 34,200
Provided during year (1,300 )
Balance at 31 January 2024 32,900

GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
248 Ordinary A £1 248 248
752 Ordinary B £1 752 752
1,000 1,000