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Company Registration No. 02965774 (England and Wales)
Rod Gaskin Limited Unaudited accounts for the year ended 31 December 2023
Rod Gaskin Limited Unaudited accounts Contents
Page
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Rod Gaskin Limited Company Information for the year ended 31 December 2023
Directors
R F Gaskin B D Gaskin T A Gaskin
Company Number
02965774 (England and Wales)
Registered Office
Windmill Farm Colemore Alton Hampshire GU34 3PY
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Rod Gaskin Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
851,890 
635,884 
Investment property
- 
458,004 
851,890 
1,093,888 
Current assets
Inventories
1,317,681 
1,302,867 
Debtors
496,230 
340,920 
Cash at bank and in hand
1,029,571 
466,615 
2,843,482 
2,110,402 
Creditors: amounts falling due within one year
(1,806,147)
(1,419,340)
Net current assets
1,037,335 
691,062 
Total assets less current liabilities
1,889,225 
1,784,950 
Creditors: amounts falling due after more than one year
(28,658)
(200,044)
Provisions for liabilities
Deferred tax
(91,000)
(48,100)
Net assets
1,769,567 
1,536,806 
Capital and reserves
Called up share capital
26,022 
26,022 
Capital redemption reserve
2,000 
2,000 
Profit and loss account
1,741,545 
1,508,784 
Shareholders' funds
1,769,567 
1,536,806 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by
R F Gaskin Director Company Registration No. 02965774
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Rod Gaskin Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Rod Gaskin Limited is a private company, limited by shares, registered in England and Wales, registration number 02965774. The registered office is Windmill Farm, Colemore, Alton, Hampshire, GU34 3PY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
50 years
Plant & machinery
8 years
Motor vehicles
5 years
Computer equipment
3 years
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Rod Gaskin Limited Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
411,503 
149,918 
441,166 
1,002,587 
Additions
484,732 
72,226 
110,427 
667,385 
Disposals
(397,034)
(20,878)
(52,895)
(470,807)
At 31 December 2023
499,201 
201,266 
498,698 
1,199,165 
Depreciation
At 1 January 2023
42,570 
89,936 
234,197 
366,703 
Charge for the year
6,267 
20,251 
65,012 
91,530 
On disposals
(41,846)
(17,389)
(51,723)
(110,958)
At 31 December 2023
6,991 
92,798 
247,486 
347,275 
Net book value
At 31 December 2023
492,210 
108,468 
251,212 
851,890 
At 31 December 2022
368,933 
59,982 
206,969 
635,884 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
183,620 
184,937 
5
Investment property
2023 
£ 
Fair value at 1 January 2023
458,004 
Transfers to tangible fixed assets
(458,004)
At 31 December 2023
- 
The investment property was a freehold commercial property adjoining the company's trading premises. It was purchased in October 2020 and market value at 31 December 2022 was considered to be the purchase price. It was let at a commercial rent until March 2023 when it was occupied for the company's own business.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
478,958 
328,387 
Accrued income and prepayments
17,272 
12,533 
496,230 
340,920 
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Rod Gaskin Limited Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
22,000 
Obligations under finance leases and hire purchase contracts
47,311 
54,100 
Trade creditors
1,451,645 
1,176,005 
Amounts owed to group undertakings and other participating interests
3,164 
- 
Taxes and social security
291,051 
115,877 
Loans from directors
12,976 
51,358 
1,806,147 
1,419,340 
Obligations under finance leases and hire purchase contracts are secured on the relevant assets. Charges to secure any bank borrowing were satisfied on 12 January 2024.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
159,403 
Obligations under finance leases and hire purchase contracts
28,658 
40,641 
28,658 
200,044 
Bank loans were paid off during the year. Outstanding charges in favour of the bank were satisfied on 12 January 2024. Obligations under finance leases and hire purchase contracts are secured on the relevant assets. These liabilities are repayable by instalments within five years.
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
91,000 
48,100 
2023 
2022 
£ 
£ 
Provision at start of year
48,100 
26,800 
Charged to the profit and loss account
42,900 
21,300 
Provision at end of year
91,000 
48,100 
The provision for deferred tax relates to Accelerated Capital Allowances. Provision has been made at 25%.
10
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
134,925 
53,970 
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Rod Gaskin Limited Notes to the Accounts for the year ended 31 December 2023
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Advance in respect of dividends
- 
40,389 
40,389 
- 
- 
40,389 
40,389 
- 
The amount advanced was repaid within the year. Interest was charged at the HMRC rate.
12
Transactions with related parties
In December 2023 the director/shareholders exchanged their shares for shares in a holding company TBR 1994 Ltd. Creditors include amounts owed to directors as disclosed. These amounts are repayable on demand and no interest is charged.
13
Average number of employees
During the year the average number of employees was 21 (2022: 18).
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