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Registered number: 05524795
The George and Dragon (Greenwich) Limited
Financial Statements
For The Year Ended 31 August 2023
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05524795
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 56,234 64,736
56,234 64,736
CURRENT ASSETS
Stocks 5 12,650 9,960
Debtors 6 254 -
Cash at bank and in hand 4,498 23,189
17,402 33,149
Creditors: Amounts Falling Due Within One Year 7 (17,190 ) (18,377 )
NET CURRENT ASSETS (LIABILITIES) 212 14,772
TOTAL ASSETS LESS CURRENT LIABILITIES 56,446 79,508
NET ASSETS 56,446 79,508
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 56,445 79,507
SHAREHOLDERS' FUNDS 56,446 79,508
Page 1
Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Glenwright
Director
19 March 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The George and Dragon (Greenwich) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05524795 . The registered office is CKR House, 70 East Hill, Dartford, Kent, DA1 1RZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 12.5% reducing balance basis
Plant & Machinery 25% reducing balance basis
Fixtures & Fittings 25% reducing balance basis
Computer Equipment 25% reducing balance basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 9)
9 9
Page 3
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2022 138,448 27,390 13,746 1,709 181,293
Additions - - - 357 357
As at 31 August 2023 138,448 27,390 13,746 2,066 181,650
Depreciation
As at 1 September 2022 79,132 24,577 11,610 1,238 116,557
Provided during the period 7,415 703 534 207 8,859
As at 31 August 2023 86,547 25,280 12,144 1,445 125,416
Net Book Value
As at 31 August 2023 51,901 2,110 1,602 621 56,234
As at 1 September 2022 59,316 2,813 2,136 471 64,736
Changes in fixed assets during the year are set out in the notes to the financial statements.
5. Stocks
2023 2022
£ £
Finished goods 12,650 9,960
6. Debtors
2023 2022
£ £
Due within one year
Other taxes and social security 254 -
254 -
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 10,532 4,153
Corporation tax 30 6,604
Other taxes and social security - 3
VAT 137 3,987
Pension control 387 387
Accruals 2,780 2,780
Director's loan account 3,324 463
17,190 18,377
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 5