27 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 26,492 9,000 35,492 18,110 2,283 20,393 15,099 8,382 16,203 16,203 16,203 2,095 773 2,868 xbrli:pure xbrli:shares iso4217:GBP 11190563 2023-02-01 2024-01-31 11190563 2024-01-31 11190563 2023-01-31 11190563 2022-02-01 2023-01-31 11190563 2023-01-31 11190563 2022-01-31 11190563 core:MotorVehicles 2023-02-01 2024-01-31 11190563 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 11190563 bus:Director1 2023-02-01 2024-01-31 11190563 core:WithinOneYear 2024-01-31 11190563 core:WithinOneYear 2023-01-31 11190563 core:MotorVehicles 2023-01-31 11190563 core:MotorVehicles 2024-01-31 11190563 core:DeferredTaxation 2023-02-01 2024-01-31 11190563 core:AfterOneYear 2024-01-31 11190563 core:AfterOneYear 2023-01-31 11190563 core:ShareCapital 2024-01-31 11190563 core:ShareCapital 2023-01-31 11190563 core:RetainedEarningsAccumulatedLosses 2024-01-31 11190563 core:RetainedEarningsAccumulatedLosses 2023-01-31 11190563 core:CostValuation core:Non-currentFinancialInstruments 2024-01-31 11190563 core:Non-currentFinancialInstruments 2024-01-31 11190563 core:Non-currentFinancialInstruments 2023-01-31 11190563 core:MotorVehicles 2023-01-31 11190563 core:DeferredTaxation 2023-01-31 11190563 core:DeferredTaxation 2024-01-31 11190563 bus:SmallEntities 2023-02-01 2024-01-31 11190563 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 11190563 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11190563 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11190563 bus:FullAccounts 2023-02-01 2024-01-31 11190563 bus:OrdinaryShareClass1 2024-01-31 11190563 bus:OrdinaryShareClass1 2023-01-31
COMPANY REGISTRATION NUMBER: 11190563
Gordon Group Ltd
Filleted Unaudited Financial Statements
31 January 2024
Gordon Group Ltd
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
15,099
8,382
Investments
6
16,203
16,203
--------
--------
31,302
24,585
Current assets
Debtors
7
524,150
531,145
Cash at bank and in hand
23,315
1,125
---------
---------
547,465
532,270
Creditors: amounts falling due within one year
8
361,051
344,414
---------
---------
Net current assets
186,414
187,856
---------
---------
Total assets less current liabilities
217,716
212,441
Creditors: amounts falling due after more than one year
9
109,109
181,078
Provisions
10
2,868
2,095
---------
---------
Net assets
105,739
29,268
---------
---------
Capital and reserves
Called up share capital
11
1,000
1,000
Profit and loss account
104,739
28,268
---------
--------
Shareholders funds
105,739
29,268
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Gordon Group Ltd
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 29 October 2024 , and are signed on behalf of the board by:
Mr A J S Gordon
Director
Company registration number: 11190563
Gordon Group Ltd
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 19 Juliette Way, Purfleet, South Ockendon, RM15 4YD, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 27 (2023: 29 ).
5. Tangible assets
Motor vehicles
£
Cost
At 1 February 2023
26,492
Additions
9,000
--------
At 31 January 2024
35,492
--------
Depreciation
At 1 February 2023
18,110
Charge for the year
2,283
--------
At 31 January 2024
20,393
--------
Carrying amount
At 31 January 2024
15,099
--------
At 31 January 2023
8,382
--------
6. Investments
Shares in participating interests
£
Cost
At 1 February 2023 and 31 January 2024
16,203
--------
Impairment
At 1 February 2023 and 31 January 2024
--------
Carrying amount
At 31 January 2024
16,203
--------
At 31 January 2023
16,203
--------
7. Debtors
2024
2023
£
£
Trade debtors
58,730
78,034
Amounts owed by group undertakings
440,420
396,986
Amounts owed by related undertakings
25,000
33,000
Other debtors
23,125
---------
---------
524,150
531,145
---------
---------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Amounts owed by related undertakings
25,000
33,000
--------
--------
Included within loans due after more than one year is an amount of £25,000 (2023: £33,000) owed by a related company.
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
16,716
12,370
Amounts owed to group undertakings
263,021
198,275
Accruals and deferred income
3,360
Social security and other taxes
65,777
109,344
Other creditors
15,537
21,065
---------
---------
361,051
344,414
---------
---------
Barclays Bank PLC hold a cross guarantee and debenture between G.F. Gordon (Waste Management) Limited, Gordon Group Limited, G F Gordon (Plant Hire) Limited and Burnt Orange Construction Limited.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Director loan accounts
109,109
181,078
---------
---------
10. Provisions
Deferred tax
£
At 1 February 2023
2,095
Additions
773
-------
At 31 January 2024
2,868
-------
11. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
12. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2024
2023
2024
2023
£
£
£
£
Directors Loan Account
( 109,109)
( 181,078)
Other related party
80,661
25,000
33,000
----
--------
---------
---------
The company has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with wholly owned subsidiaries within the group.