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REGISTERED NUMBER: 03750243 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

GARY WRIGHT ANTIQUES LIMITED

GARY WRIGHT ANTIQUES LIMITED (REGISTERED NUMBER: 03750243)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GARY WRIGHT ANTIQUES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: G S Wright
G J Wright





SECRETARY: G S Wright





REGISTERED OFFICE: 5 Fosse Way Business Centre
Stratford Road
Moreton In Marsh
Gloucestershire
GL56 9NQ





REGISTERED NUMBER: 03750243 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

GARY WRIGHT ANTIQUES LIMITED (REGISTERED NUMBER: 03750243)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,328 9,620
Investment property 5 400,000 400,000
407,328 409,620

CURRENT ASSETS
Stocks 1,015,417 982,471
Debtors 6 8,139 5,127
Investments 7 3,350,000 3,150,000
Cash at bank 13,812 78,142
4,387,368 4,215,740
CREDITORS
Amounts falling due within one year 8 231,913 249,469
NET CURRENT ASSETS 4,155,455 3,966,271
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,562,783

4,375,891

PROVISIONS FOR LIABILITIES 24,302 18,905
NET ASSETS 4,538,481 4,356,986

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Fair value reserve 11 67,411 72,804
Retained earnings 4,470,070 4,283,182
SHAREHOLDERS' FUNDS 4,538,481 4,356,986

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GARY WRIGHT ANTIQUES LIMITED (REGISTERED NUMBER: 03750243)

BALANCE SHEET - continued
31ST MAY 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 Board of Directors and authorised for issue on 23rd January 2025 and were signed on its behalf by:





G J Wright - Director


GARY WRIGHT ANTIQUES LIMITED (REGISTERED NUMBER: 03750243)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024


1. STATUTORY INFORMATION

Gary Wright Antiques 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 as modified by the revaluation of certain assets.

For operational reasons the previous reporting period was extended, therefore comparative amounts (including the related notes) may not be entirely comparable.

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 - 25% on reducing balance and 15% on reducing balance

Investment property
Investment property was initially recorded at cost, and subsequently stated at the directors estimate of fair value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company is party to only basic financial instruments such as cash, trade debtors and creditors, and bank loans. Instruments such as trade debtors and creditors are initially recognised at their transaction cost and reviewed at the year-end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate

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.


GARY WRIGHT ANTIQUES LIMITED (REGISTERED NUMBER: 03750243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


2. ACCOUNTING POLICIES - continued
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.

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2023
and 31st May 2024 21,189
DEPRECIATION
At 1st June 2023 11,569
Charge for year 2,292
At 31st May 2024 13,861
NET BOOK VALUE
At 31st May 2024 7,328
At 31st May 2023 9,620

GARY WRIGHT ANTIQUES LIMITED (REGISTERED NUMBER: 03750243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1st June 2023
and 31st May 2024 400,000
NET BOOK VALUE
At 31st May 2024 400,000
At 31st May 2023 400,000

Cost or valuation at 31st May 2024 is represented by:
£   
Valuation in 2022 89,881
Cost 310,119
400,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 8,139 5,127

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other 3,350,000 3,150,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 77,224 140,678
Other creditors 154,689 108,791
231,913 249,469

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 12,889 12,889
Between one and five years 9,666 22,555
22,555 35,444

GARY WRIGHT ANTIQUES LIMITED (REGISTERED NUMBER: 03750243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. RESERVES
Fair
value
reserve
£   
At 1st June 2023 72,804
Deferred tax movement (5,393 )

At 31st May 2024 67,411