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REGISTERED NUMBER: 03047832 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

G M MONK LIMITED

G M MONK LIMITED (REGISTERED NUMBER: 03047832)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

G M MONK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: M James
C E Monk
S G Monk
S M Monk





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 03047832 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

G M MONK LIMITED (REGISTERED NUMBER: 03047832)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 165,438 192,979
Investments 5 1,000 1,000
166,438 193,979

CURRENT ASSETS
Stocks 6 437,923 595,647
Debtors 7 1,544,614 824,324
Cash at bank and in hand 533,445 1,005,435
2,515,982 2,425,406
CREDITORS
Amounts falling due within one year 8 926,226 1,051,975
NET CURRENT ASSETS 1,589,756 1,373,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,756,194

1,567,410

CREDITORS
Amounts falling due after more than one
year

9

(5,210

)

(36,854

)

PROVISIONS FOR LIABILITIES (39,159 ) (45,774 )
NET ASSETS 1,711,825 1,484,782

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Other reserves 13 89,053 89,053
Retained earnings 13 1,621,772 1,394,729
SHAREHOLDERS' FUNDS 1,711,825 1,484,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

G M MONK LIMITED (REGISTERED NUMBER: 03047832)

BALANCE SHEET - continued
30 JUNE 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 Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:




M James - Director S G Monk - Director




S M Monk - Director


G M MONK LIMITED (REGISTERED NUMBER: 03047832)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

G M Monk 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.

Against the backdrop of the COVID-19 Pandemic, the directors have been constantly reviewing the company's ability to continue as a going concern. Even though the company has been affected by the pandemic due to the nature of the market in which it trades, they do not consider there to be any material uncertainties and can meet its current obligations. As a result they have adopted the going concern basis of accounting.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

G M MONK LIMITED (REGISTERED NUMBER: 03047832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 59 (2023 - 51 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 46,948 70,996 405,299 132,942 656,185
Additions 7,253 3,516 - 18,030 28,799
Disposals - - (14,301 ) - (14,301 )
At 30 June 2024 54,201 74,512 390,998 150,972 670,683
DEPRECIATION
At 1 July 2023 39,116 60,593 250,576 112,921 463,206
Charge for year 3,771 3,480 38,503 9,513 55,267
Eliminated on disposal - - (13,228 ) - (13,228 )
At 30 June 2024 42,887 64,073 275,851 122,434 505,245
NET BOOK VALUE
At 30 June 2024 11,314 10,439 115,147 28,538 165,438
At 30 June 2023 7,832 10,403 154,723 20,021 192,979

G M MONK LIMITED (REGISTERED NUMBER: 03047832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 341,104
Disposals (14,301 )
At 30 June 2024 326,803
DEPRECIATION
At 1 July 2023 203,489
Charge for year 34,136
Eliminated on disposal (13,228 )
At 30 June 2024 224,397
NET BOOK VALUE
At 30 June 2024 102,406
At 30 June 2023 137,615

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 1,000
NET BOOK VALUE
At 30 June 2024 1,000
At 30 June 2023 1,000

6. STOCKS
30.6.24 30.6.23
£    £   
Stocks 4,755 4,755
Work-in-progress 433,168 590,892
437,923 595,647

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 648,175 625,032
Retention debtors 170,607 129,723
Amounts owed by group undertakings 712,829 49,000
Other debtors 1,150 11,037
Tax - 514
Prepayments 11,853 9,018
1,544,614 824,324

G M MONK LIMITED (REGISTERED NUMBER: 03047832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts (see note 10) 32,689 52,003
Trade creditors 530,971 637,377
Tax 162,408 132,341
Social security and other taxes 53,442 59,994
VAT 135,991 118,259
Other creditors 4,911 4,911
Directors' current accounts 1,063 1,063
Accrued expenses 4,751 46,027
926,226 1,051,975

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts (see note 10) 5,210 36,854

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.24 30.6.23
£    £   
Net obligations repayable:
Within one year 32,689 52,003
Between one and five years 5,210 36,854
37,899 88,857

Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 93,500 42,870
Between one and five years 374,000 -
In more than five years 467,500 -
935,000 42,870

11. SECURED DEBTS

HSBC UK Bank PLC has a fixed and floating charge over the assets of the company. The charge is registered at Companies House under 0304 7832 0001

G M MONK LIMITED (REGISTERED NUMBER: 03047832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class Nominal 30.6.19 30.6.18
value: £    £   
20 Ordinary A 20 20
340 Ordinary B 340 340
340 Ordinary C 340 340
250 Ordinary D 250 250
50 Ordinary E 50 50
1,000 1,000
On 26 January 2017, a share reorganisation took place and the company brought back £89,053 of share capital.

The share reorganisation is reflected in other reserves on the company's balance sheet.

13. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 July 2023 1,394,729 89,053 1,483,782
Profit for the year 516,043 516,043
Dividends (289,000 ) (289,000 )
At 30 June 2024 1,621,772 89,053 1,710,825

£89,053 of other reserves are non-distributable reserves.

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date £986 (2023 : £986) is owed by the company to Mrs C E Monk, a director of the company. The loan is interest free and repayable on demand.

At the balance sheet date £77 (2023:£77) is owed by the company to Mr S M Monk, a director of the company. The loan is interest free and repayable on demand.

15. RELATED PARTY DISCLOSURES

The directors are trustees and members of The G M Monk pension scheme.

G M Monk Limited also pays the administrative costs of the scheme which were £0 (2023: £0) in the year.

All other related party disclosures are fully disclosed in the note dealing with Directors' advances, credits and guarantees.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
G M MONK LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G M Monk Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of G M Monk Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G M Monk Limited and state those matters that we have agreed to state to the Board of Directors of G M Monk Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G M Monk Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G M Monk Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G M Monk Limited. You consider that G M Monk Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G M Monk Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


21 November 2024