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REGISTERED NUMBER: 04685397 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Gazelle Office Furniture Limited

Gazelle Office Furniture Limited (Registered number: 04685397)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gazelle Office Furniture Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr D J Wade
Mrs W S Wade
Mr R C Condon





SECRETARY: Mr D J Wade





REGISTERED OFFICE: 208-212 Lawrence Hill
Lawrence Hill
Bristol
BS5 0DR





REGISTERED NUMBER: 04685397 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Redland House
157 Redland Road
Redland
Bristol
BS6 6YE

Gazelle Office Furniture Limited (Registered number: 04685397)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,994 15,109
17,994 15,109

CURRENT ASSETS
Stocks 9,050 9,975
Debtors 6 70,584 78,702
Cash at bank 218,338 219,483
297,972 308,160
CREDITORS
Amounts falling due within one year 7 173,069 193,086
NET CURRENT ASSETS 124,903 115,074
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,897

130,183

CREDITORS
Amounts falling due after more than one year 8 (4,554 ) (3,367 )

PROVISIONS FOR LIABILITIES 9 (3,419 ) (2,871 )
NET ASSETS 134,924 123,945

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 11 133,924 122,945
SHAREHOLDERS' FUNDS 134,924 123,945

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:



Mr D J Wade - Director


Gazelle Office Furniture Limited (Registered number: 04685397)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gazelle Office Furniture Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - straight line over period of lease
Fixtures and fittings - 25%/33.33% on reducing balance basis
Motor vehicles - 25% on reducing balance basis

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Gazelle Office Furniture Limited (Registered number: 04685397)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 135,000
AMORTISATION
At 1 April 2023
and 31 March 2024 135,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 11,345 18,121 35,765 65,231
Additions - - 10,990 10,990
Disposals - - (16,665 ) (16,665 )
At 31 March 2024 11,345 18,121 30,090 59,556
DEPRECIATION
At 1 April 2023 11,345 17,851 20,926 50,122
Charge for year - 68 4,658 4,726
Eliminated on disposal - - (13,286 ) (13,286 )
At 31 March 2024 11,345 17,919 12,298 41,562
NET BOOK VALUE
At 31 March 2024 - 202 17,792 17,994
At 31 March 2023 - 270 14,839 15,109

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 19,100
Additions 10,990
At 31 March 2024 30,090
DEPRECIATION
At 1 April 2023 7,640
Charge for year 4,658
At 31 March 2024 12,298
NET BOOK VALUE
At 31 March 2024 17,792
At 31 March 2023 11,460

Gazelle Office Furniture Limited (Registered number: 04685397)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 70,010 77,493
Prepayments 574 1,209
70,584 78,702

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 7,403 3,107
Trade creditors 42,630 63,643
Taxation 19,695 18,410
Social security and other taxes 13,560 20,522
Other creditors 8,608 14,807
Directors' loan accounts 76,401 68,177
Accrued expenses 4,772 4,420
173,069 193,086

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,554 3,367

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 3,419 2,871

Deferred
tax
£   
Balance at 1 April 2023 2,871
Charge to Income Statement during year 548
Balance at 31 March 2024 3,419

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary shares 1 1,000 1,000

11. RESERVES
Retained
earnings
£   

At 1 April 2023 122,945
Profit for the year 70,979
Dividends (60,000 )
At 31 March 2024 133,924

Gazelle Office Furniture Limited (Registered number: 04685397)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 (2023 - £65,000) were paid to the directors .