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Registered number: 08414578
House Of Garrod Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
LPTA Limited
Chartered Certified Accountants
Priory Road
Priory Place
Tiptree
Essex
CO5 0QE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08414578
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,438 8,047
6,438 8,047
CURRENT ASSETS
Stocks 5 12,320 10,363
Debtors 6 3,549 2,424
Cash at bank and in hand 818 3,026
16,687 15,813
Creditors: Amounts Falling Due Within One Year 7 (22,203 ) (20,533 )
NET CURRENT ASSETS (LIABILITIES) (5,516 ) (4,720 )
TOTAL ASSETS LESS CURRENT LIABILITIES 922 3,327
PROVISIONS FOR LIABILITIES
Deferred Taxation (534 ) (465 )
NET ASSETS 388 2,862
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 288 2,762
SHAREHOLDERS' FUNDS 388 2,862
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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
Ms Beverley Garrod
Director
21st October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
House Of Garrod Limited Registered number 08414578 is a limited by shares company incorporated in England & Wales. The Registered Office is Imbers, Good Easter, Chelmsford, Essex, CM1 4RU.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
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.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 8,358 28,585 3,286 2,431 42,660
As at 31 March 2024 8,358 28,585 3,286 2,431 42,660
Depreciation
As at 1 April 2023 6,623 24,987 2,249 754 34,613
Provided during the period 347 720 207 335 1,609
As at 31 March 2024 6,970 25,707 2,456 1,089 36,222
Net Book Value
As at 31 March 2024 1,388 2,878 830 1,342 6,438
As at 1 April 2023 1,735 3,598 1,037 1,677 8,047
5. Stocks
2024 2023
£ £
Stock 12,320 10,363
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,389 2,189
Prepayments and accrued income 160 235
3,549 2,424
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,081 5,385
Corporation tax - 268
VAT 3,230 3,887
Customer Deposits Taken 3,096 5,407
Accruals and deferred income 1,025 995
Director's loan account 7,771 4,591
22,203 20,533
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid - 4,000
10. Ultimate Controlling Party
The company's ultimate controlling party is Ms Beverley Garrod by virtue of her ownership of 100% of the issued share capital in the company.
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