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REGISTERED NUMBER: 04125517 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

G.J.T. Limited

G.J.T. Limited (Registered number: 04125517)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G.J.T. Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr D P Nott
Mr A Dunn
Mr C P Nott





SECRETARY: Mr A Dunn





REGISTERED OFFICE: Springwell Mill
Church Street
Heckmondwike
West Yorkshire
WF16 0LF





REGISTERED NUMBER: 04125517 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

G.J.T. Limited (Registered number: 04125517)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 464,627 505,502
Investments 5 310,000 310,000
774,627 815,502

CURRENT ASSETS
Stocks 6 1,369,686 1,476,547
Debtors 7 1,250,488 1,444,570
Cash at bank and in hand 383,133 355,582
3,003,307 3,276,699
CREDITORS
Amounts falling due within one year 8 2,225,793 2,529,281
NET CURRENT ASSETS 777,514 747,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,552,141

1,562,920

PROVISIONS FOR LIABILITIES 10 37,271 48,629
NET ASSETS 1,514,870 1,514,291

CAPITAL AND RESERVES
Called up share capital 81,200 81,200
Capital redemption reserve 11 194,100 194,100
Retained earnings 11 1,239,570 1,238,991
SHAREHOLDERS' FUNDS 1,514,870 1,514,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

G.J.T. Limited (Registered number: 04125517)

Balance Sheet - continued
30 September 2023


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 29 May 2024 and were signed on its behalf by:





Mr D P Nott - Director


G.J.T. Limited (Registered number: 04125517)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

G.J.T. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Turnover, which is stated excluding Value Added Tax, is the amount receivable for goods supplied less returns, trade discounts and allowances. Sales are recognised when goods are despatched to customers as this reflects the transfer of risks and rewards of ownership, with provisions made for returns and allowances. Provisions for returns are calculated based on historical return levels.

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.
Freehold property - 2% on cost
Plant and machinery - 33% on cost, 20% on cost and 10% on cost
Motor vehicles - 33% on cost and 25% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, on a weighted average cost basis. Cost includes all expenditure incurred in the normal course of business in bringing the stock to its present location and condition. Net realisable value is based on estimated selling price less further costs to completion and selling costs.

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.

Taxation
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.

G.J.T. Limited (Registered number: 04125517)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into Sterling at the rates of exchange at the balance sheet date. Transactions denominated in foreign currencies are translated into Sterling at the rates of exchange prevailing on the date of transaction or, for practical reasons, at average monthly rates where exchange rates do not fluctuate significantly. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and operating leases
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their useful lives. The interest element of these obligations is charged to the profit and loss account over the relevant period.

Rentals paid under operating leases are charged to the profit and loss account as incurred.


Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. The company pays contributions to privately administered plans on a contractual basis. The company has no further obligations once the contributions have been paid. The contributions are recognised as an employee benefit expense when they are paid.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account as incurred.

Dividends
Interim dividends are recognised when they are paid to the company's shareholders. Final dividends are recognised when they are approved by the company's shareholders.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 267,060 336,556 10,995 104,357 718,968
Additions - 10,350 - 4,541 14,891
Disposals - - - (1,570 ) (1,570 )
At 30 September 2023 267,060 346,906 10,995 107,328 732,289
DEPRECIATION
At 1 October 2022 38,611 128,171 7,559 39,125 213,466
Charge for year 5,310 21,419 2,749 24,718 54,196
At 30 September 2023 43,921 149,590 10,308 63,843 267,662
NET BOOK VALUE
At 30 September 2023 223,139 197,316 687 43,485 464,627
At 30 September 2022 228,449 208,385 3,436 65,232 505,502

G.J.T. Limited (Registered number: 04125517)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2022
and 30 September 2023 243,823
DEPRECIATION
At 1 October 2022
and 30 September 2023 71,092
NET BOOK VALUE
At 30 September 2023 172,731
At 30 September 2022 172,731

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2022
and 30 September 2023 310,000
NET BOOK VALUE
At 30 September 2023 310,000
At 30 September 2022 310,000

6. STOCKS
30.9.23 30.9.22
£    £   
Finished goods 1,369,686 1,476,547

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 1,142,508 1,346,756
Prepayments 107,980 97,814
1,250,488 1,444,570

Included within trade debtors are debts owed to the company upon which advances have been made by HSBC Invoice Financing Limited and disclosed as part of the creditors in note 11. At 30 September 2023 the amount advanced was £800,514 (2022: £758,507) and this sum is secured by way of a fixed and floating charge against all the company's assets.

G.J.T. Limited (Registered number: 04125517)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts - 4,348
Trade creditors 1,013,048 1,330,270
Amounts owed to group undertakings 156,415 179,846
Corporation Tax 54,199 27,672
Social security and other taxes 16,266 19,716
VAT 139,095 102,941
Invoice discounting loan 800,514 758,507
Accrued and deferred income 46,256 105,981
2,225,793 2,529,281

The invoice discounting loan is secured against approved trade debtors.

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Hire purchase contracts - 4,348
Invoice discounting loan 800,514 758,507
800,514 762,855

10. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax
Accelerated capital allowances 37,271 48,629

Deferred
tax
£   
Balance at 1 October 2022 48,629
Credit to Income Statement during year (11,358 )
Balance at 30 September 2023 37,271

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 October 2022 1,238,991 194,100 1,433,091
Profit for the year 65,579 65,579
Dividends (65,000 ) (65,000 )
At 30 September 2023 1,239,570 194,100 1,433,670

G.J.T. Limited (Registered number: 04125517)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

12. RELATED PARTY DISCLOSURES

During the year the company purchased goods to the value of £910,277 (2022: £969,111) from Style Furnishings Limited, its subsidiary company.
At 30 September 2023 the company owed £156,415 (2022: £179,846) to Style Furnishings Limited.

13. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of Mr D P Nott, a director, by virtue of a controlling interest of the issued ordinary share capital.