Gillingham Group Ltd |
Notes to the Accounts |
for the year ended 31 March 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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2 |
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3 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
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Cost |
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At 1 April 2023 |
291 |
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Disposals |
(101) |
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At 31 March 2024 |
190 |
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4 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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1,950 |
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900 |
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Other debtors |
193 |
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13,527 |
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2,143 |
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14,427 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Trade creditors |
337 |
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1,093 |
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Taxation and social security costs |
400 |
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- |
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Other creditors |
3,480 |
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1,615 |
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4,217 |
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2,708 |
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6 |
Related party transactions |
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Gillingham Properties Ltd |
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Subsidiary |
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Amount due from the related party |
1,950 |
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900 |
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Appliances Direct Limited |
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Subsidiary |
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Amount due from the related party |
- |
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3,334 |
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7 |
Other information |
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Gillingham Group Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Demar House, 14 Church Road |
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East Wittering |
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Chichester |
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West Sussex |
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PO20 8PS |