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Registration number: 04718529

Garsden Pepper Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Garsden Pepper Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Garsden Pepper Limited

(Registration number: 04718529)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,980

10,117

Current assets

 

Stocks

15,103

54,033

Debtors

5

157,777

98,653

Cash at bank and in hand

 

198,130

197,298

 

371,010

349,984

Creditors: Amounts falling due within one year

6

(130,556)

(127,891)

Net current assets

 

240,454

222,093

Total assets less current liabilities

 

250,434

232,210

Provisions for liabilities

-

(2,529)

Net assets

 

250,434

229,681

Capital and reserves

 

Called up share capital

7

2

2

Profit and loss account

250,432

229,679

Shareholders' funds

 

250,434

229,681

 

Garsden Pepper Limited

(Registration number: 04718529)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 October 2024:


Mrs Louise Helen Duke
Company secretary and director


Mr Matthew Edmund John Duke
Director

 
     
 

Garsden Pepper Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Twin Cottage
Graffham
Petworth
GU28 0PT

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover shown in the profit and loss account and statement of retained earnings represents the fair value of the consideration received or receivable, exclusive of Value Added Tax. Turnover includes revenue earned from the rendering of services and from construction contracts.

Construction contracts
In respect of long-term contracts, turnover represents the value of work done in the year, including estimates of amounts not invoiced. When the outcome of a construction contract can be estimated reliably, the Company will recognise revenue by reference to the stage of completion at the date of the financial statements. The stage of completion is determined by the proportion of costs incurred to date in comparison to the total estimated final costs for the contract.

Rendering of services
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Garsden Pepper Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred Tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% Reducing Balance

Office equipment

33% Reducing Balance


Cash
Cash comprises cash on hand and all deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and net realisable value.

The cost of work in progress comprises direct materials and, where applicable, direct labour costs and overheads.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

Garsden Pepper Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an employee benefit expense when they are due.

3

Staff numbers

The average number of persons employed by the company during the year, was 2 (2023 - 2).

4

Tangible assets

Office equipment
 £

Plant & machinery
£

Total
£

Cost

At 1 May 2023

2,187

42,127

44,314

Additions

3,682

-

3,682

At 30 April 2024

5,869

42,127

47,996

Depreciation

At 1 May 2023

1,249

32,948

34,197

Charge for the year

1,524

2,295

3,819

At 30 April 2024

2,773

35,243

38,016

Net book value

At 30 April 2024

3,096

6,884

9,980

At 30 April 2023

938

9,179

10,117

5

Debtors

2024
£

2023
£

Trade debtors

146,152

93,202

Other debtors

10,005

-

Prepayments

1,620

5,451

157,777

98,653

 

Garsden Pepper Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

5,496

38,468

Taxation and social security

71,525

40,641

Other loans

1,428

7,182

Accruals

52,107

41,600

130,556

127,891

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2