Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Michel Roger Maurer 12/10/2006 11 September 2024 The principal activity of the Company during the financial year was the sale of footwear. 05964494 2023-12-31 05964494 bus:Director1 2023-12-31 05964494 2022-12-31 05964494 core:CurrentFinancialInstruments 2023-12-31 05964494 core:CurrentFinancialInstruments 2022-12-31 05964494 core:ShareCapital 2023-12-31 05964494 core:ShareCapital 2022-12-31 05964494 core:RetainedEarningsAccumulatedLosses 2023-12-31 05964494 core:RetainedEarningsAccumulatedLosses 2022-12-31 05964494 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-12-31 05964494 core:OtherResidualIntangibleAssets 2022-12-31 05964494 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-12-31 05964494 core:OtherResidualIntangibleAssets 2023-12-31 05964494 core:PlantMachinery 2022-12-31 05964494 core:Vehicles 2022-12-31 05964494 core:FurnitureFittings 2022-12-31 05964494 core:PlantMachinery 2023-12-31 05964494 core:Vehicles 2023-12-31 05964494 core:FurnitureFittings 2023-12-31 05964494 2023-01-01 2023-12-31 05964494 bus:FilletedAccounts 2023-01-01 2023-12-31 05964494 bus:SmallEntities 2023-01-01 2023-12-31 05964494 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05964494 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05964494 bus:Director1 2023-01-01 2023-12-31 05964494 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-01-01 2023-12-31 05964494 core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 05964494 core:PlantMachinery 2023-01-01 2023-12-31 05964494 core:Vehicles 2023-01-01 2023-12-31 05964494 core:FurnitureFittings 2023-01-01 2023-12-31 05964494 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 05964494 (England and Wales)

GUMBIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

GUMBIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

GUMBIES LIMITED

BALANCE SHEET

As at 31 December 2023
GUMBIES LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 35,318 47,091
Tangible assets 4 139,554 94,215
174,872 141,306
Current assets
Stocks 5 233,549 229,916
Debtors 6 153,568 90,779
Cash at bank and in hand 337,796 223,360
724,913 544,055
Creditors: amounts falling due within one year 7 ( 401,004) ( 271,808)
Net current assets 323,909 272,247
Total assets less current liabilities 498,781 413,553
Provision for liabilities ( 25,438) ( 10,819)
Net assets 473,343 402,734
Capital and reserves
Called-up share capital 100 100
Profit and loss account 473,243 402,634
Total shareholders' funds 473,343 402,734

For the financial 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.

Director's responsibilities:

The financial statements of Gumbies Limited (registered number: 05964494) were approved and authorised for issue by the Director on 11 September 2024. They were signed on its behalf by:

Michel Roger Maurer
Director
GUMBIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
GUMBIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gumbies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Nuffield Road Nuffield Industrial Estate, Poole, BH17 0RB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 25 % reducing balance
Other intangible assets 25 % reducing balance
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 7 7

3. Intangible assets

Website costs Other intangible assets Total
£ £ £
Cost
At 01 January 2023 53,810 36,500 90,310
At 31 December 2023 53,810 36,500 90,310
Accumulated amortisation
At 01 January 2023 29,594 13,625 43,219
Charge for the financial year 6,054 5,719 11,773
At 31 December 2023 35,648 19,344 54,992
Net book value
At 31 December 2023 18,162 17,156 35,318
At 31 December 2022 24,216 22,875 47,091

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 January 2023 48,635 81,715 32,282 162,632
Additions 5,250 124,907 0 130,157
Disposals ( 4,500) ( 62,000) 0 ( 66,500)
At 31 December 2023 49,385 144,622 32,282 226,289
Accumulated depreciation
At 01 January 2023 13,338 30,298 24,781 68,417
Charge for the financial year 8,853 20,856 5,057 34,766
Disposals ( 2,116) ( 14,332) 0 ( 16,448)
At 31 December 2023 20,075 36,822 29,838 86,735
Net book value
At 31 December 2023 29,310 107,800 2,444 139,554
At 31 December 2022 35,297 51,417 7,501 94,215

5. Stocks

2023 2022
£ £
Stocks (secured) 233,549 229,916

6. Debtors

2023 2022
£ £
Trade debtors 12,108 41,424
Other debtors 141,460 49,355
153,568 90,779

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 89,542 58,112
Taxation and social security 110,667 71,669
Other creditors 200,795 142,027
401,004 271,808