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REGISTERED NUMBER: 05332339 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Gainsborough F S Limited

Gainsborough F S Limited (Registered number: 05332339)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Gainsborough F S Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S J Hickman





SECRETARY: S J Hickman





REGISTERED OFFICE: Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ





REGISTERED NUMBER: 05332339 (England and Wales)





ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ

Gainsborough F S Limited (Registered number: 05332339)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 65,507 76,925

CURRENT ASSETS
Debtors 6 120,160 94,455
Cash at bank 2,391 18,884
122,551 113,339
CREDITORS
Amounts falling due within one year 7 114,868 135,311
NET CURRENT ASSETS/(LIABILITIES) 7,683 (21,972 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,190

54,953

CREDITORS
Amounts falling due after more than one
year

8

(12,437

)

(22,396

)

PROVISIONS FOR LIABILITIES (16,376 ) (19,231 )
NET ASSETS 44,377 13,326

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 44,277 13,226
SHAREHOLDERS' FUNDS 44,377 13,326

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Gainsborough F S Limited (Registered number: 05332339)

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

The financial statements were approved by the director and authorised for issue on 24 October 2024 and were signed by:





S J Hickman - Director


Gainsborough F S Limited (Registered number: 05332339)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gainsborough F S 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net commissions receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

Gainsborough F S Limited (Registered number: 05332339)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 28,989 2,716 22,588
Additions 1,774 - 1,765
At 31 March 2024 30,763 2,716 24,353
DEPRECIATION
At 1 April 2023 28,989 632 12,138
Charge for year 30 510 3,775
At 31 March 2024 29,019 1,142 15,913
NET BOOK VALUE
At 31 March 2024 1,744 1,574 8,440
At 31 March 2023 - 2,084 10,450

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 94,200 44,425 192,918
Additions - 7,062 10,601
At 31 March 2024 94,200 51,487 203,519
DEPRECIATION
At 1 April 2023 32,381 41,853 115,993
Charge for year 15,465 2,239 22,019
At 31 March 2024 47,846 44,092 138,012
NET BOOK VALUE
At 31 March 2024 46,354 7,395 65,507
At 31 March 2023 61,819 2,572 76,925

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 30,000 15,000
Other debtors 90,160 78,160
Prepayments - 1,295
120,160 94,455

Gainsborough F S Limited (Registered number: 05332339)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Tax 17,008 15,272
Social security and other taxes 3,182 2,878
Other creditors 52,569 84,756
Directors' current accounts 428 1,985
Accrued expenses 31,681 20,420
114,868 135,311

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 2,437 12,396
12,437 22,396

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
S J Hickman
Balance outstanding at start of year - 1,595
Amounts repaid - (1,595 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -