Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseSale, servicing and repair of garden machinery and machine parts55truetruefalse 11041216 2023-01-01 2023-12-31 11041216 2022-01-01 2022-12-31 11041216 2023-12-31 11041216 2022-12-31 11041216 c:Director1 2023-01-01 2023-12-31 11041216 d:FurnitureFittings 2023-01-01 2023-12-31 11041216 d:FurnitureFittings 2023-12-31 11041216 d:FurnitureFittings 2022-12-31 11041216 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11041216 d:CurrentFinancialInstruments 2023-12-31 11041216 d:CurrentFinancialInstruments 2022-12-31 11041216 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11041216 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11041216 d:ShareCapital 2023-12-31 11041216 d:ShareCapital 2022-12-31 11041216 d:RetainedEarningsAccumulatedLosses 2023-12-31 11041216 d:RetainedEarningsAccumulatedLosses 2022-12-31 11041216 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 11041216 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 11041216 c:FRS102 2023-01-01 2023-12-31 11041216 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11041216 c:FullAccounts 2023-01-01 2023-12-31 11041216 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11041216 2 2023-01-01 2023-12-31 11041216 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11041216









GILLINGHAM GARDEN MACHINERY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GILLINGHAM GARDEN MACHINERY LIMITED
REGISTERED NUMBER: 11041216

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
657
877

  
657
877

Current assets
  

Stocks
 5 
46,862
75,604

Debtors: amounts falling due within one year
 6 
5,995
8,446

Cash at bank and in hand
 7 
19,775
8,206

  
72,632
92,256

Creditors: amounts falling due within one year
 8 
(47,775)
(65,751)

Net current assets
  
 
 
24,857
 
 
26,505

Total assets less current liabilities
  
25,514
27,382

  

Net assets
  
25,514
27,382


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
25,414
27,282

  
25,514
27,382


Page 1

 
GILLINGHAM GARDEN MACHINERY LIMITED
REGISTERED NUMBER: 11041216
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 September 2024.




................................................
Roger Rendell
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
GILLINGHAM GARDEN MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Company is a private company limited by shares, incorporated in England. The principal activity throughout the year was the sale, servicing and repair of garden machinery and machine parts. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
GILLINGHAM GARDEN MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
GILLINGHAM GARDEN MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
GILLINGHAM GARDEN MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

2023
£

Wages and salaries
57,454

Social security costs
2,440

Cost of defined contribution scheme
1,539

61,433


The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
2,840



At 31 December 2023

2,840



Depreciation


At 1 January 2023
1,963


Charge for the year on owned assets
220



At 31 December 2023

2,183



Net book value



At 31 December 2023
657



At 31 December 2022
877

Page 6

 
GILLINGHAM GARDEN MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£
£

Raw materials and consumables
13,236
8,390

Finished goods and goods for resale
33,626
67,214

46,862
75,604



6.


Debtors

2023
2022
£
£


Trade debtors
3,201
3,428

Other debtors
51
1,839

Prepayments and accrued income
2,743
3,179

5,995
8,446



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
19,775
8,206

19,775
8,206


Page 7

 
GILLINGHAM GARDEN MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
36,352
57,031

Corporation tax
6,695
5,439

Other taxation and social security
1,526
279

Other creditors
1,522
1,412

Accruals and deferred income
1,680
1,590

47,775
65,751



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
19,775
8,206




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £1,539 (2022 - £1,292) . Contributions totalling £Nil (2022 - £75) were payable to the fund at the balance sheet date.


11.


Controlling party

The Company is controlled by the director, Roger Rendell and his wife Melissa Rendell, by virtue of their shareholding, as disclosed in the directors' report.

 
Page 8