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REGISTERED NUMBER: 05731704 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE GIGRIG LTD

THE GIGRIG LTD (REGISTERED NUMBER: 05731704)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE GIGRIG LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: D E Steinhardt





REGISTERED OFFICE: Unit 15, Whitehill Industrial Estate
Royal Wootton Bassett
SN4 7DB





REGISTERED NUMBER: 05731704 (England and Wales)





ACCOUNTANTS: S D Knee
Chartered Accountants
10 Bath Road
Old Town
Swindon
Wiltshire
SN1 4BA

THE GIGRIG LTD (REGISTERED NUMBER: 05731704)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,028 5,419

CURRENT ASSETS
Stocks 169,552 209,023
Debtors 5 58,433 45,877
Cash at bank 167,980 119,182
395,965 374,082
CREDITORS
Amounts falling due within one year 6 205,775 213,948
NET CURRENT ASSETS 190,190 160,134
TOTAL ASSETS LESS CURRENT
LIABILITIES

198,218

165,553

PROVISIONS FOR LIABILITIES 1,828 1,075
NET ASSETS 196,390 164,478

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 196,290 164,378
SHAREHOLDERS' FUNDS 196,390 164,478

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

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

THE GIGRIG LTD (REGISTERED NUMBER: 05731704)

BALANCE SHEET - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2024 and were signed by:





D E Steinhardt - Director


THE GIGRIG LTD (REGISTERED NUMBER: 05731704)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

The Gigrig Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 March 2024 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 April 2022.

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.
Plant and machinery etc - 33% on cost

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 Statement of Income and Retained Earnings, 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 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.

THE GIGRIG LTD (REGISTERED NUMBER: 05731704)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 41,371
Additions 9,131
At 31 March 2024 50,502
DEPRECIATION
At 1 April 2023 35,952
Charge for year 6,522
At 31 March 2024 42,474
NET BOOK VALUE
At 31 March 2024 8,028
At 31 March 2023 5,419

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 20,927 33,621
Other debtors 37,506 12,256
58,433 45,877

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Payments on account - 117,399
Trade creditors 139,232 53,420
Taxation and social security 32,752 13,200
Other creditors 33,791 29,929
205,775 213,948