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Registered number: 04176915
Gumtree 4x4 Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Shore Accounting Ltd
4 Mason's Yard
177 Westbourne Street
Hove
BN3 5FB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04176915
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,362 1,828
7,362 1,828
CURRENT ASSETS
Stocks 5 75,000 128,986
Debtors 6 28,069 1,731
Cash at bank and in hand 17,364 178
120,433 130,895
Creditors: Amounts Falling Due Within One Year 7 (193,125 ) (196,648 )
NET CURRENT ASSETS (LIABILITIES) (72,692 ) (65,753 )
TOTAL ASSETS LESS CURRENT LIABILITIES (65,330 ) (63,925 )
Creditors: Amounts Falling Due After More Than One Year 8 (41,120 ) (63,170 )
NET LIABILITIES (106,450 ) (127,095 )
CAPITAL AND RESERVES
Called up share capital 9 30,000 30,000
Profit and Loss Account (136,450 ) (157,095 )
SHAREHOLDERS' FUNDS (106,450) (127,095)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Chloe Hurd
Director
24/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gumtree 4x4 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04176915 . The registered office is 4 Mason's Yard, 177 Westbourne Street, Hove, BN3 5FB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 9)
7 9
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 79,991 - 79,991
Additions 4,995 4,000 8,995
As at 31 March 2024 84,986 4,000 88,986
Depreciation
As at 1 April 2023 78,163 - 78,163
Provided during the period 2,461 1,000 3,461
As at 31 March 2024 80,624 1,000 81,624
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 4,362 3,000 7,362
As at 1 April 2023 1,828 - 1,828
5. Stocks
2024 2023
£ £
Stock 75,000 128,986
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,069 1,281
Other debtors 5,000 450
28,069 1,731
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 66,374 73,949
Bank loans and overdrafts 31,769 44,361
Other creditors 65,851 44,503
Taxation and social security 29,131 33,835
193,125 196,648
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 41,120 63,170
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 30,000 30,000
Page 4