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REGISTERED NUMBER: 06954387 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

S T GOWAN LIMITED

S T GOWAN LIMITED (REGISTERED NUMBER: 06954387)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S T GOWAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: S T Gowan





REGISTERED OFFICE: 51 High Street
BEMPTON
East Yorkshire
YO15 1HB





REGISTERED NUMBER: 06954387 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

S T GOWAN LIMITED (REGISTERED NUMBER: 06954387)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 397,204 412,313

CURRENT ASSETS
Stocks 242,688 225,149
Debtors 5 91,656 99,815
Cash at bank and in hand 215 11,030
334,559 335,994
CREDITORS
Amounts falling due within one year 6 196,390 224,457
NET CURRENT ASSETS 138,169 111,537
TOTAL ASSETS LESS CURRENT
LIABILITIES

535,373

523,850

CREDITORS
Amounts falling due after more than one
year

7

(175,746

)

(176,819

)

PROVISIONS FOR LIABILITIES (53,113 ) (51,883 )
NET ASSETS 306,514 295,148

CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 132,104 137,608
Retained earnings 174,408 157,538
SHAREHOLDERS' FUNDS 306,514 295,148

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

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

S T GOWAN LIMITED (REGISTERED NUMBER: 06954387)

BALANCE SHEET - continued
31 JULY 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 director and authorised for issue on 8 November 2024 and were signed by:





S T Gowan - Director


S T GOWAN LIMITED (REGISTERED NUMBER: 06954387)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

S T Gowan 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable from machinery sales, 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.
Freehold property - 2% on cost
Improvements to property - 5% on cost
Plant and machinery - 20% on cost
Fixtures, fittings and equipment - 20% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates an auto-enrolment pension scheme. Contributions payable to the company's pension scheme are charged to statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

S T GOWAN LIMITED (REGISTERED NUMBER: 06954387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 August 2023
and 31 July 2024 400,000 68,359 468,359
DEPRECIATION
At 1 August 2023 8,000 48,046 56,046
Charge for year 8,000 7,109 15,109
At 31 July 2024 16,000 55,155 71,155
NET BOOK VALUE
At 31 July 2024 384,000 13,204 397,204
At 31 July 2023 392,000 20,313 412,313

Cost or valuation at 31 July 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 186,509 - 186,509
Cost 213,491 68,359 281,850
400,000 68,359 468,359

If freehold property had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 213,491 213,491
Aggregate depreciation 8,540 4,270

Freehold property was valued on an open market basis on 31 July 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 89,843 99,815
Other debtors 1,813 -
91,656 99,815

S T GOWAN LIMITED (REGISTERED NUMBER: 06954387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 75,048 23,017
Trade creditors 62,176 133,198
Taxation and social security 27,059 30,020
Other creditors 32,107 38,222
196,390 224,457

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 175,746 176,819

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 139,229 102,300

8. SECURED DEBTS

Secured debts included within creditors amount to £235,769 (2023 - £167,967).

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Revaluation
reserve
£   
At 1 August 2023 137,608
Reserves transfer (5,504 )

At 31 July 2024 132,104