IRIS Accounts Production v24.1.0.578 05283626 director 1.2.23 31.1.24 31.1.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure052836262023-01-31052836262024-01-31052836262023-02-012024-01-31052836262022-01-31052836262022-02-012023-01-31052836262023-01-3105283626ns16:EnglandWales2023-02-012024-01-3105283626ns15:PoundSterling2023-02-012024-01-3105283626ns11:Director12023-02-012024-01-3105283626ns11:PrivateLimitedCompanyLtd2023-02-012024-01-3105283626ns11:SmallEntities2023-02-012024-01-3105283626ns11:AuditExempt-NoAccountantsReport2023-02-012024-01-3105283626ns11:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3105283626ns11:SmallCompaniesRegimeForAccounts2023-02-012024-01-3105283626ns11:FullAccounts2023-02-012024-01-310528362612023-02-012024-01-3105283626ns11:RegisteredOffice2023-02-012024-01-3105283626ns6:CurrentFinancialInstruments2024-01-3105283626ns6:CurrentFinancialInstruments2023-01-3105283626ns6:Non-currentFinancialInstruments2024-01-3105283626ns6:Non-currentFinancialInstruments2023-01-3105283626ns6:ShareCapital2024-01-3105283626ns6:ShareCapital2023-01-3105283626ns6:CapitalRedemptionReserve2024-01-3105283626ns6:CapitalRedemptionReserve2023-01-3105283626ns6:RetainedEarningsAccumulatedLosses2024-01-3105283626ns6:RetainedEarningsAccumulatedLosses2023-01-3105283626ns6:NetGoodwill2023-02-012024-01-3105283626ns6:PlantMachinery2023-02-012024-01-3105283626ns6:FurnitureFittings2023-02-012024-01-3105283626ns6:MotorVehicles2023-02-012024-01-3105283626ns6:ComputerEquipment2023-02-012024-01-3105283626ns6:NetGoodwill2023-01-3105283626ns6:NetGoodwill2024-01-3105283626ns6:NetGoodwill2023-01-3105283626ns6:PlantMachinery2023-01-3105283626ns6:FurnitureFittings2023-01-3105283626ns6:MotorVehicles2023-01-3105283626ns6:ComputerEquipment2023-01-3105283626ns6:PlantMachinery2024-01-3105283626ns6:FurnitureFittings2024-01-3105283626ns6:MotorVehicles2024-01-3105283626ns6:ComputerEquipment2024-01-3105283626ns6:PlantMachinery2023-01-3105283626ns6:FurnitureFittings2023-01-3105283626ns6:MotorVehicles2023-01-3105283626ns6:ComputerEquipment2023-01-3105283626ns6:WithinOneYearns6:CurrentFinancialInstruments2024-01-3105283626ns6:WithinOneYearns6:CurrentFinancialInstruments2023-01-3105283626ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2024-01-3105283626ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-01-3105283626ns6:Secured2024-01-3105283626ns6:Secured2023-01-31
REGISTERED NUMBER: 05283626 (England and Wales)









GILLIAN & BAINES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






GILLIAN & BAINES LIMITED (REGISTERED NUMBER: 05283626)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GILLIAN & BAINES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mr M K Tams





REGISTERED OFFICE: Gillian & Baines Limited
Common Lane
Knottingley
West Yorkshire
WF11 8BN





REGISTERED NUMBER: 05283626 (England and Wales)





ACCOUNTANTS: KTC
Chartered Certified Accountants
80 West View
Barlby Road
Selby
North Yorkshire
YO8 5BD

GILLIAN & BAINES LIMITED (REGISTERED NUMBER: 05283626)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 80,668 107,445
80,668 107,445

CURRENT ASSETS
Stocks 131,715 123,994
Debtors 6 507,901 409,402
Cash at bank and in hand 66,637 254,611
706,253 788,007
CREDITORS
Amounts falling due within one year 7 551,561 433,626
NET CURRENT ASSETS 154,692 354,381
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,360

461,826

CREDITORS
Amounts falling due after more than one
year

8

(34,722

)

(144,103

)

PROVISIONS FOR LIABILITIES (20,167 ) (26,592 )
NET ASSETS 180,471 291,131

CAPITAL AND RESERVES
Called up share capital 16,668 33,336
Capital redemption reserve 33,336 16,668
Retained earnings 130,467 241,127
SHAREHOLDERS' FUNDS 180,471 291,131

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

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

The director acknowledges his 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.

GILLIAN & BAINES LIMITED (REGISTERED NUMBER: 05283626)

BALANCE SHEET - continued
31 JANUARY 2024


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 director and authorised for issue on 18 April 2024 and were signed by:





Mr M K Tams - Director


GILLIAN & BAINES LIMITED (REGISTERED NUMBER: 05283626)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Gillian & Baines 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
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life of 20 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, any payments on account received for work uncompleted at the year end are included within accruals and deferred income.

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.

GILLIAN & BAINES LIMITED (REGISTERED NUMBER: 05283626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

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.

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.

Government grants
Government grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute. Where grants are received towards the cost of fixed assets then they are released to the profit and loss account in accordance with the expected useful life of the asset, any unreleased amount is carried forward as deferred income in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 30,000
AMORTISATION
At 1 February 2023
and 31 January 2024 30,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

GILLIAN & BAINES LIMITED (REGISTERED NUMBER: 05283626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 211,230 36,964 213,591 76,199 537,984
Additions 587 - - 3,321 3,908
Disposals - - (39,913 ) - (39,913 )
At 31 January 2024 211,817 36,964 173,678 79,520 501,979
DEPRECIATION
At 1 February 2023 189,219 34,257 143,795 63,268 430,539
Charge for year 7,130 684 17,192 3,418 28,424
Eliminated on disposal - - (37,652 ) - (37,652 )
At 31 January 2024 196,349 34,941 123,335 66,686 421,311
NET BOOK VALUE
At 31 January 2024 15,468 2,023 50,343 12,834 80,668
At 31 January 2023 22,011 2,707 69,796 12,931 107,445

The net book value of tangible fixed assets includes £ 27,823 (2023 - £ 37,111 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 314,746 224,914
Tax - 39,638
Prepayments and accrued income 193,155 144,850
507,901 409,402

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 83,333 83,333
Hire purchase contracts 26,047 7,666
Trade creditors 147,352 161,252
Tax 6,947 11,261
PAYE and social security 13,554 15,662
VAT 78,456 78,437
Invoice discounting advance 100,090 -
Directors' current accounts 118 118
Accruals and deferred income 95,664 75,897
551,561 433,626

GILLIAN & BAINES LIMITED (REGISTERED NUMBER: 05283626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 34,722 118,056
Hire purchase contracts - 26,047
34,722 144,103

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 118,055 201,389
Hire purchase contracts 26,047 33,713
Invoice discounting advance 100,090 -
244,192 235,102

10. OTHER FINANCIAL COMMITMENTS

The company had total commitments under operating leases at the balance sheet date of £21,535 (2023 - £35,127).