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REGISTERED NUMBER: 04611779 (England and Wales)









Financial Statements

for the Year Ended 31 December 2023

for

G & M Products (UK) Limited

G & M Products (UK) Limited (Registered number: 04611779)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


G & M Products (UK) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr R.I. Macdonald
Mr D.I. Gardner





SECRETARY: Mrs C Gardner





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 04611779 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

G & M Products (UK) Limited (Registered number: 04611779)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,783 5,783
Property, plant and equipment 5 148,610 171,535
Investments 6 100 100
151,493 177,418

CURRENT ASSETS
Inventories 22,000 22,000
Debtors 7 109,140 230,852
Cash at bank and in hand 14,711 66,675
145,851 319,527
CREDITORS
Amounts falling due within one year 8 (450,866 ) (471,471 )
NET CURRENT LIABILITIES (305,015 ) (151,944 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(153,522

)

25,474

CREDITORS
Amounts falling due after more than one
year

9

(23,728

)

(16,057

)

PROVISIONS FOR LIABILITIES (8,812 ) (8,812 )
NET (LIABILITIES)/ASSETS (186,062 ) 605

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (186,162 ) 505
SHAREHOLDERS' FUNDS (186,062 ) 605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 & M Products (UK) Limited (Registered number: 04611779)

Statement of Financial Position - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





Mr R.I. Macdonald - Director


G & M Products (UK) Limited (Registered number: 04611779)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

G & M Products (UK) 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.

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

Intangible assets
Other intangible assets represent franchise fees payable to the Franchisor Pizza Hut (UK) Limited. Franchise fees are amortised over the length of the franchise agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - straight line over the life of the lease
Plant and machinery etc - 20% on reducing balance and Straight line over 5 years

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

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

G & M Products (UK) Limited (Registered number: 04611779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 101 (2022 - 105 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 41,936
AMORTISATION
At 1 January 2023 36,153
Charge for year 3,000
At 31 December 2023 39,153
NET BOOK VALUE
At 31 December 2023 2,783
At 31 December 2022 5,783

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 321,723 435,020 756,743
DEPRECIATION
At 1 January 2023 200,843 384,365 585,208
Charge for year 4,000 18,925 22,925
At 31 December 2023 204,843 403,290 608,133
NET BOOK VALUE
At 31 December 2023 116,880 31,730 148,610
At 31 December 2022 120,880 50,655 171,535

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

G & M Products (UK) Limited (Registered number: 04611779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 80,186 83,009
Amounts owed by group undertakings - 95,009
Other debtors 28,954 52,834
109,140 230,852

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,572 87,478
Trade creditors 176,499 139,697
Amounts owed to group undertakings 88,770 -
Taxation and social security 130,940 227,956
Other creditors 23,085 16,340
450,866 471,471

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 23,728 16,057

10. LEASING AGREEMENTS

At 31 December 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £189,452 (2022: £264,782).

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 55,300 103,535

The bank loans are secured by legal mortgages over the company's leasehold properties together with all present and future buildings, fixtures and fittings and plant and machinery which are at any time on the properties, together with various fixed and floating charges in connection with the properties.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The Directors have given personal guarantees to the company's bankers in respect of the bank borrowings.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.