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Company No: 09447253 (England and Wales)

GREG LARKIN ASSOCIATES LIMITED

Unaudited Financial Statements
For the financial year ended 27 February 2024
Pages for filing with the registrar

GREG LARKIN ASSOCIATES LIMITED

Unaudited Financial Statements

For the financial year ended 27 February 2024

Contents

GREG LARKIN ASSOCIATES LIMITED

BALANCE SHEET

As at 27 February 2024
GREG LARKIN ASSOCIATES LIMITED

BALANCE SHEET (continued)

As at 27 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 870 1,693
870 1,693
Current assets
Debtors 4 12,868 21,679
Cash at bank and in hand 6,521 4,028
19,389 25,707
Creditors: amounts falling due within one year 5 ( 15,634) ( 19,719)
Net current assets 3,755 5,988
Total assets less current liabilities 4,625 7,681
Creditors: amounts falling due after more than one year 6 ( 4,311) ( 7,248)
Net assets 314 433
Capital and reserves
Called-up share capital 100 100
Profit and loss account 214 333
Total shareholder's funds 314 433

For the financial year ending 27 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Greg Larkin Associates Limited (registered number: 09447253) were approved and authorised for issue by the Director on 26 November 2024. They were signed on its behalf by:

Gregory Stuart Larkin
Director
GREG LARKIN ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 27 February 2024
GREG LARKIN ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 27 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Greg Larkin Associates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Beachleas, 17 Poole Road, Wimborne, BH21 1QA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 28 February 2023 6,125 6,125
At 27 February 2024 6,125 6,125
Accumulated depreciation
At 28 February 2023 4,432 4,432
Charge for the financial year 823 823
At 27 February 2024 5,255 5,255
Net book value
At 27 February 2024 870 870
At 27 February 2023 1,693 1,693

4. Debtors

2024 2023
£ £
Other debtors 12,868 21,679

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 3,086 2,957
Trade creditors 2,086 1,980
Corporation tax 8,377 12,802
Other creditors 2,085 1,980
15,634 19,719

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,311 7,248

There are no amounts included above in respect of which any security has been given by the small entity.

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Key management 12,868 21,679

Interest has been charged on overdrawn loan account in line with HMRC official rate.