Company Registration No. 02194029 (England and Wales)
DR & JF GAMBLIN LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DR & JF GAMBLIN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
DR & JF GAMBLIN LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
62,192
64,260
Current assets
Debtors
4
6,734
6,873
Cash at bank and in hand
8,505
12,072
15,239
18,945
Creditors: amounts falling due within one year
5
(53,819)
(9,766)
Net current (liabilities)/assets
(38,580)
9,179
Total assets less current liabilities
23,612
73,439
Provisions for liabilities
(949)
(936)
Net assets
22,663
72,503
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
22,563
72,403
Total equity
22,663
72,503
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 2 August 2024 and are signed on its behalf by:
Miss S L Gamblin
Director
Company Registration No. 02194029
DR & JF GAMBLIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
DR & JF Gamblin Limited is a private company limited by shares incorporated in England and Wales. The registered office is 227A West Street, Fareham, Hants, PO16 0HZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
SL over 68 years
Plant and equipment
15% Reducing Balance
Motor vehicles
25% Reducing Balance
Farm Buildings
10% Reducing Balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
DR & JF GAMBLIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Motor vehicles
Farm Buildings
Total
£
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
85,252
30,525
8,316
4,150
128,243
Depreciation and impairment
At 1 January 2023
26,124
26,142
7,708
4,009
63,983
Depreciation charged in the year
1,244
658
152
14
2,068
At 31 December 2023
27,368
26,800
7,860
4,023
66,051
Carrying amount
At 31 December 2023
57,884
3,725
456
127
62,192
At 31 December 2022
59,128
4,383
608
141
64,260
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
128
124
Other debtors
6,606
6,749
6,734
6,873
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,797
3,797
Corporation tax
2,810
4,025
Other creditors
47,212
1,944
53,819
9,766