Company registration number 01192131 (England and Wales)
Gordon Baxter (Nantwich) Limited
Unaudited financial statements
For the year ended 30 November 2023
Gordon Baxter (Nantwich) Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Gordon Baxter (Nantwich) Limited
Balance sheet
As at 30 November 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,503,220
1,476,563
Investment property
4
529,645
529,645
2,032,865
2,006,208
Current assets
Stocks
52,917
55,724
Debtors
5
416,886
589,351
Cash at bank and in hand
972,415
880,082
1,442,218
1,525,157
Creditors: amounts falling due within one year
6
(616,987)
(804,493)
Net current assets
825,231
720,664
Total assets less current liabilities
2,858,096
2,726,872
Provisions for liabilities
7
(105,010)
(96,396)
Net assets
2,753,086
2,630,476
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
2,752,986
2,630,376
Total equity
2,753,086
2,630,476

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 30 November 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.

Gordon Baxter (Nantwich) Limited
Balance sheet (continued)
As at 30 November 2023
30 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 August 2024 and are signed on its behalf by:
Mr W Baxter
Director
Company registration number 01192131 (England and Wales)
GORDON BAXTER (NANTWICH) LIMITED
Gordon Baxter (Nantwich) Limited
Notes to the financial statements
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Gordon Baxter (Nantwich) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Meadow Bank, Wrenbury Heath Road, Sound, Cheshire, CW5 8BT, Nantwich.

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, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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:

Buildings
2% straight line
Plant and machinery
15% reducing balance basis
Motor vehicles
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Stocks

Stock is valued at the lower of cost and net realisable value.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

GORDON BAXTER (NANTWICH) LIMITED
Gordon Baxter (Nantwich) Limited
Notes to the financial statements (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
6
6
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2022
1,143,672
1,502,439
2,646,111
Additions
-
0
110,500
110,500
Disposals
-
0
(62,750)
(62,750)
At 30 November 2023
1,143,672
1,550,189
2,693,861
Depreciation and impairment
At 1 December 2022
106,686
1,062,862
1,169,548
Depreciation charged in the year
4,544
78,100
82,644
Eliminated in respect of disposals
-
0
(61,551)
(61,551)
At 30 November 2023
111,230
1,079,411
1,190,641
Carrying amount
At 30 November 2023
1,032,442
470,778
1,503,220
At 30 November 2022
1,036,986
439,577
1,476,563
GORDON BAXTER (NANTWICH) LIMITED
Gordon Baxter (Nantwich) Limited
Notes to the financial statements (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
4
Investment property
2023
£
Fair value
At 1 December 2022 and 30 November 2023
529,645

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors at 30 November 2023. The valuation was made on an open market value basis.

On an historical cost basis the investment properties would have been included at a cost of £529,645 (2022 - £529,645).

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
285,373
486,608
Corporation tax recoverable
26,487
-
0
Other debtors
82,733
88,323
Prepayments and accrued income
22,293
14,420
416,886
589,351
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
242,987
391,581
Taxation and social security
83,685
49,452
Other creditors
290,315
363,460
616,987
804,493

Included in other creditors are accruals of £25,956 (2022 £2,313).

7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
105,010
96,396
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
GORDON BAXTER (NANTWICH) LIMITED
Gordon Baxter (Nantwich) Limited
Notes to the financial statements (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Interest charged
Amounts repaid
Closing balance
£
£
£
£
Loan
2.17
81,499
2,499
(3,665)
80,333
81,499
2,499
(3,665)
80,333
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