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REGISTERED NUMBER: 05418365 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Gainsborough Motaquip Limited

Gainsborough Motaquip Limited (Registered number: 05418365)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gainsborough Motaquip Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: J F Bradbury





SECRETARY: Mrs T M Bradbury





REGISTERED OFFICE: Unit 32
Corringham Road Ind Estate
Gainsborough
Lincolnshire
DN21 1QB





REGISTERED NUMBER: 05418365 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

Gainsborough Motaquip Limited (Registered number: 05418365)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 165,622 171,934

CURRENT ASSETS
Stocks 235,646 215,884
Debtors 5 124,829 150,852
Cash at bank and in hand 157,309 203,410
517,784 570,146
CREDITORS
Amounts falling due within one year 6 242,796 268,991
NET CURRENT ASSETS 274,988 301,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

440,610

473,089

CREDITORS
Amounts falling due after more than one
year

7

-

(66,057

)

PROVISIONS FOR LIABILITIES (8,668 ) (9,767 )
NET ASSETS 431,942 397,265

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 406,942 372,265
SHAREHOLDERS' FUNDS 431,942 397,265

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

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

Gainsborough Motaquip Limited (Registered number: 05418365)

Balance Sheet - continued
30 June 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 20 January 2025 and were signed by:





J F Bradbury - Director


Gainsborough Motaquip Limited (Registered number: 05418365)

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

1. STATUTORY INFORMATION

Gainsborough Motaquip 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.

Turnover
Turnover represents net invoiced sales of goods stated net of value added tax.

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 - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

Gainsborough Motaquip Limited (Registered number: 05418365)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 120,000 7,403 18,419 99,511 245,333
Additions - - - 12,000 12,000
Disposals - - - (8,150 ) (8,150 )
At 30 June 2024 120,000 7,403 18,419 103,361 249,183
DEPRECIATION
At 1 July 2023 - 4,617 17,308 51,474 73,399
Charge for year - 557 167 14,150 14,874
Eliminated on disposal - - - (4,712 ) (4,712 )
At 30 June 2024 - 5,174 17,475 60,912 83,561
NET BOOK VALUE
At 30 June 2024 120,000 2,229 944 42,449 165,622
At 30 June 2023 120,000 2,786 1,111 48,037 171,934

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 124,829 150,852

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts - 19,452
Trade creditors 188,046 203,663
Tax 39,672 29,839
Social security and other taxes 2,239 1,967
VAT 12,820 14,051
Directors' current accounts 19 19
242,796 268,991

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 2-5 years - 66,057

8. ULTIMATE CONTROLLING PARTY

The controlling party is J F Bradbury.

The director exercises control by virtue of his own and family shareholdings. The director was owed £19 by the company at the year end, (2023, £19).