Registered number
06841801
Gloucester Trade Frames Ltd
Filleted Accounts
30 June 2024
Gloucester Trade Frames Ltd
Company Information
Directors
J Leccacorvi
A Voss
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Unit 1 Llanthony Industrial Estate
Hempstead Lane
Glos
Registered number
06841801
Gloucester Trade Frames Ltd
Registered number: 06841801
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 188,039 196,899
Current assets
Stocks 95,960 90,537
Debtors 4 72,500 124,669
Cash at bank and in hand 225,463 148,875
393,923 364,081
Creditors: amounts falling due within one year 5 (140,655) (225,234)
Net current assets 253,268 138,847
Total assets less current liabilities 441,307 335,746
Creditors: amounts falling due after more than one year 6 (248,542) (104,621)
Net assets 192,765 231,125
Capital and reserves
Called up share capital 20 20
Profit and loss account 192,745 231,105
Shareholders' funds 192,765 231,125
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Leccacorvi A Voss
Director
Approved by the board on 31 July 2024
Gloucester Trade Frames Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings nil
Plant and machinery over 5 years
Computer equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Land and buildings Plant and machinery Computer equipment Total
£ £ £ £
Cost
At 1 July 2023 168,054 130,197 8,770 307,021
At 30 June 2024 168,054 130,197 8,770 307,021
Depreciation
At 1 July 2023 - 103,512 6,610 110,122
Charge for the year - 8,265 595 8,860
At 30 June 2024 - 111,777 7,205 118,982
Net book value
At 30 June 2024 168,054 18,420 1,565 188,039
At 30 June 2023 168,054 26,685 2,160 196,899
4 Debtors 2024 2023
£ £
Trade debtors 72,500 124,669
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 109,563 196,188
Taxation and social security costs 26,592 24,546
Other creditors 4,500 4,500
140,655 225,234
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 86,112 101,000
Directors loan account 162,430 3,621
248,542 104,621
7 Controlling party
The company is controlled by the directors
8 Other information
Gloucester Trade Frames Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1 Llanthony Industrial Estate
Hempstead Lane
Glos
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