Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr H Gaydon 23/04/2024 Mr R Gaydon 23/04/2024 24/04/1992 Mrs S Gaydon 23/04/2024 01/03/2006 13 November 2024 The principal activity of the Company during the financial year was providing services within the building industry. 01633700 2024-03-31 01633700 bus:Director1 2024-03-31 01633700 bus:Director2 2024-03-31 01633700 bus:Director3 2024-03-31 01633700 2023-03-31 01633700 core:CurrentFinancialInstruments 2024-03-31 01633700 core:CurrentFinancialInstruments 2023-03-31 01633700 core:Non-currentFinancialInstruments 2024-03-31 01633700 core:Non-currentFinancialInstruments 2023-03-31 01633700 core:ShareCapital 2024-03-31 01633700 core:ShareCapital 2023-03-31 01633700 core:RetainedEarningsAccumulatedLosses 2024-03-31 01633700 core:RetainedEarningsAccumulatedLosses 2023-03-31 01633700 core:LandBuildings 2023-03-31 01633700 core:PlantMachinery 2023-03-31 01633700 core:Vehicles 2023-03-31 01633700 core:OfficeEquipment 2023-03-31 01633700 core:LandBuildings 2024-03-31 01633700 core:PlantMachinery 2024-03-31 01633700 core:Vehicles 2024-03-31 01633700 core:OfficeEquipment 2024-03-31 01633700 core:CurrentFinancialInstruments 1 2024-03-31 01633700 core:CurrentFinancialInstruments 1 2023-03-31 01633700 bus:OrdinaryShareClass1 2024-03-31 01633700 2023-04-01 2024-03-31 01633700 bus:FilletedAccounts 2023-04-01 2024-03-31 01633700 bus:SmallEntities 2023-04-01 2024-03-31 01633700 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01633700 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01633700 bus:Director1 2023-04-01 2024-03-31 01633700 bus:Director2 2023-04-01 2024-03-31 01633700 bus:Director3 2023-04-01 2024-03-31 01633700 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 01633700 core:PlantMachinery 2023-04-01 2024-03-31 01633700 core:Vehicles 2023-04-01 2024-03-31 01633700 core:OfficeEquipment 2023-04-01 2024-03-31 01633700 2022-04-01 2023-03-31 01633700 core:LandBuildings 2023-04-01 2024-03-31 01633700 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 01633700 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 01633700 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01633700 (England and Wales)

K. GAYDON AND SON LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

K. GAYDON AND SON LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

K. GAYDON AND SON LTD

BALANCE SHEET

As at 31 March 2024
K. GAYDON AND SON LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 30,684 33,673
30,684 33,673
Current assets
Stocks 200 7,117
Debtors 4 1,996 51,540
Cash at bank and in hand 32,908 18,246
35,104 76,903
Creditors: amounts falling due within one year 5 ( 51,589) ( 39,741)
Net current (liabilities)/assets (16,485) 37,162
Total assets less current liabilities 14,199 70,835
Creditors: amounts falling due after more than one year 6 ( 61,234) ( 65,783)
Provision for liabilities ( 7,000) ( 7,800)
Net liabilities ( 54,035) ( 2,748)
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account ( 55,035 ) ( 3,748 )
Total shareholders' deficit ( 54,035) ( 2,748)

For the financial 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.

Director's responsibilities:

The financial statements of K. Gaydon and Son Ltd (registered number: 01633700) were approved and authorised for issue by the Director on 13 November 2024. They were signed on its behalf by:

Mr H Gaydon
Director
K. GAYDON AND SON LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
K. GAYDON AND SON LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

K. Gaydon and Son Ltd (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 The Old Mill, Kenn, EX6 7UR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 straight-line and reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Office equipment 15 - 25 % reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Grant income comprises the fair value of the consideration received or receivable during the year.

Interest on the Bounce Back Loan is accounted for on the accruals basis. Income in relation to the Coronavirus Job Retention Scheme is included in accordance with the performance model and recognised as the wages to which it relates are incurred. The Government has provided and 80% guarantee to the Bounce Back Loan to £40,000.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 6

3. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 7,316 31,732 44,286 3,534 86,868
Additions 0 0 9,903 0 9,903
Disposals 0 ( 7,232) ( 28,433) ( 1,154) ( 36,819)
At 31 March 2024 7,316 24,500 25,756 2,380 59,952
Accumulated depreciation
At 01 April 2023 4,347 11,545 34,607 2,696 53,195
Charge for the financial year 147 2,892 2,494 158 5,691
Disposals 0 ( 4,871) ( 23,676) ( 1,071) ( 29,618)
At 31 March 2024 4,494 9,566 13,425 1,783 29,268
Net book value
At 31 March 2024 2,822 14,934 12,331 597 30,684
At 31 March 2023 2,969 20,187 9,679 838 33,673

4. Debtors

2024 2023
£ £
Trade debtors 278 50,138
Prepayments 1,718 1,402
1,996 51,540

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 4,544 4,440
Trade creditors 9,752 20,264
Amounts owed to director 2,100 3,489
Accruals 9,497 3,745
CIS withheld 422 1,764
Other taxation and social security 13,770 3,867
Other creditors 11,504 2,172
51,589 39,741

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

2024 2023
£ £
Bank loans 23,234 27,783
Other creditors 38,000 38,000
61,234 65,783

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

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000