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REGISTERED NUMBER: 05772305 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

G & M RUG COMPANY LIMITED

G & M RUG COMPANY LIMITED (REGISTERED NUMBER: 05772305)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 April 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


G & M RUG COMPANY LIMITED

COMPANY INFORMATION
For The Year Ended 30 April 2024







DIRECTORS: G Hicks
M Markie





SECRETARY: Mrs S Hicks





REGISTERED OFFICE: 33 Sydney Street
Kettering
Northamptonshire
NN16 0HZ





REGISTERED NUMBER: 05772305 (England and Wales)





ACCOUNTANTS: TC Group
1 Rushmills
Bedford Road
Northampton
Northamptonshire
NN4 7YB

G & M RUG COMPANY LIMITED (REGISTERED NUMBER: 05772305)

STATEMENT OF FINANCIAL POSITION
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,051 2,653

CURRENT ASSETS
Stocks 35,538 31,924
Debtors 5 19,333 19,641
Cash at bank and in hand 149,069 158,110
203,940 209,675
CREDITORS
Amounts falling due within one year 6 71,537 75,766
NET CURRENT ASSETS 132,403 133,909
TOTAL ASSETS LESS CURRENT
LIABILITIES

134,454

136,562

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 134,354 136,462
SHAREHOLDERS' FUNDS 134,454 136,562

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 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.

G & M RUG COMPANY LIMITED (REGISTERED NUMBER: 05772305)

STATEMENT OF FINANCIAL POSITION - 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 Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:




G Hicks - Director



M Markie - Director


G & M RUG COMPANY LIMITED (REGISTERED NUMBER: 05772305)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 April 2024


1. STATUTORY INFORMATION

G & M Rug Company 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
In accordance with the principles of revenue recognition as stated in FRS 102, turnover is calculated by reference to the stage of completion of the transaction as at the end of the accounting period, including estimates of amounts not yet invoiced.

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 cost
Fixtures and fittings - 20% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

G & M RUG COMPANY LIMITED (REGISTERED NUMBER: 05772305)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 5,702 1,691 9,300 16,693
DEPRECIATION
At 1 May 2023 5,702 452 7,886 14,040
Charge for year - 248 354 602
At 30 April 2024 5,702 700 8,240 14,642
NET BOOK VALUE
At 30 April 2024 - 991 1,060 2,051
At 30 April 2023 - 1,239 1,414 2,653

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,541 18,279
Prepayments and accrued income 1,792 1,362
19,333 19,641

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,248 24,667
Corporation tax 12,216 14,585
VAT 4,494 4,087
Directors' current accounts 23,014 30,981
Accrued expenses 1,565 1,446
71,537 75,766

G & M RUG COMPANY LIMITED (REGISTERED NUMBER: 05772305)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 April 2024


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100