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REGISTERED NUMBER: 01533840 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

George Vardy Limited

George Vardy Limited (Registered number: 01533840)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


George Vardy Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: B W Kell





REGISTERED OFFICE: Richard Street
Hetton Le Hole
Tyne and Wear
DH5 9HN





REGISTERED NUMBER: 01533840 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

George Vardy Limited (Registered number: 01533840)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,102,146 1,057,051

CURRENT ASSETS
Stocks 480 480
Debtors 5 2,046,850 2,225,387
Cash at bank and in hand 96,938 157,368
2,144,268 2,383,235
CREDITORS
Amounts falling due within one year 6 781,214 717,244
NET CURRENT ASSETS 1,363,054 1,665,991
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,465,200

2,723,042

CREDITORS
Amounts falling due after more than one
year

7

(233,545

)

(247,990

)

PROVISIONS FOR LIABILITIES (275,536 ) (264,262 )
NET ASSETS 1,956,119 2,210,790

CAPITAL AND RESERVES
Called up share capital 10 96,230 96,230
Retained earnings 1,859,889 2,114,560
SHAREHOLDERS' FUNDS 1,956,119 2,210,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

George Vardy Limited (Registered number: 01533840)

Balance Sheet - continued
30 April 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 10 January 2025 and were signed by:





B W Kell - Director


George Vardy Limited (Registered number: 01533840)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

George Vardy 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.

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

The accounts have been prepared in accordance with applicable accounting standards. There were no material departures from those standards.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised at the point at which the company has fulfilled its contractual obligations to the customer.

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 - 25% on reducing balance
Fixtures and fittings - 33% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance

The gain or loss arising from the sale of a tangible fixed asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.

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 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.

George Vardy Limited (Registered number: 01533840)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 38 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 1,531,105 12,730 525,684 2,069,519
Additions 294,750 486 89,200 384,436
Disposals - - (25,444 ) (25,444 )
At 30 April 2024 1,825,855 13,216 589,440 2,428,511
DEPRECIATION
At 1 May 2023 772,452 8,936 231,080 1,012,468
Charge for year 239,422 588 87,967 327,977
Eliminated on disposal - - (14,080 ) (14,080 )
At 30 April 2024 1,011,874 9,524 304,967 1,326,365
NET BOOK VALUE
At 30 April 2024 813,981 3,692 284,473 1,102,146
At 30 April 2023 758,653 3,794 294,604 1,057,051

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 302,727 283,846
Amounts owed by group undertakings 1,687,616 1,750,512
Other debtors 56,507 191,029
2,046,850 2,225,387

George Vardy Limited (Registered number: 01533840)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 191,971 296,138
Trade creditors 131,404 205,355
Amounts owed to group undertakings 323,624 106,950
Taxation and social security 101,899 93,301
Other creditors 22,316 5,500
781,214 717,244

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,600 21,571
Hire purchase contracts (see note 8) 221,945 226,419
233,545 247,990

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 191,971 296,138
Between one and five years 221,945 226,419
413,916 522,557

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase agreements 413,916 522,557

Hire purchase agreements are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
96,228 Ordinary shares £1 96,228 96,228
2 Ordinary A shares £1 2 2
96,230 96,230

George Vardy Limited (Registered number: 01533840)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. RELATED PARTY DISCLOSURES

During the year the company sold goods and services to a fellow subsidiary undertaking amounting to £83,650 (2023: £165,000). At the year end £251,655 (2023: £315,005) was due from the fellow subsidiary undertaking.

During the year the company purchased goods and services from a fellow subsidiary undertaking amounting to £237,138 (2023: £260,837). At the year end £323.624 (2023: £106,950l) was due to the fellow subsidiary undertaking.

At the year end £1,435,961 (2023: £1,435,507) was due from Kell Holdings Limited, the parent company.