Company registration number 06568408 (England and Wales)
GARNER TILING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
GARNER TILING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GARNER TILING LIMITED (REGISTERED NUMBER: 06568408)
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
17,454
23,272
Current assets
Debtors
4
39,332
8,225
Cash at bank and in hand
3,692
-
0
43,024
8,225
Creditors: amounts falling due within one year
5
(48,340)
(17,709)
Net current liabilities
(5,316)
(9,484)
Total assets less current liabilities
12,138
13,788
Creditors: amounts falling due after more than one year
6
(36,236)
(46,875)
Provisions for liabilities
(4,079)
(4,422)
Net liabilities
(28,177)
(37,509)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(28,277)
(37,609)
Total equity
(28,177)
(37,509)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GARNER TILING LIMITED (REGISTERED NUMBER: 06568408)
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
P Garner
Director
GARNER TILING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Garner Tiling Limited is a private company limited by shares incorporated in England and Wales. The registered office is 397 Waters Edge, New Hythe Lane, Larkfield, Kent, ME20 6US.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The balance sheet shows net liabilities, the director is the main creditor of the company and has confirmed that he will continue to support the company for the foreseeable future. Therefore, the accounts have been prepared on a going concern basis.true

1.3
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
25% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an 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.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GARNER TILING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023 and 30 April 2024
613
2,381
26,654
29,648
Depreciation and impairment
At 1 May 2023
601
1,888
3,887
6,376
Depreciation charged in the year
3
123
5,692
5,818
At 30 April 2024
604
2,011
9,579
12,194
Carrying amount
At 30 April 2024
9
370
17,075
17,454
At 30 April 2023
12
493
22,767
23,272
GARNER TILING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
37,794
7,772
Other debtors
1,538
453
39,332
8,225
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,520
12,067
Trade creditors
18,957
3,762
Taxation and social security
16,609
(5,022)
Other creditors
7,254
6,902
48,340
17,709
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
28,276
33,922
Other creditors
7,960
12,953
36,236
46,875
7
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
4,993
4,755
In two to five years
7,960
12,953
12,953
17,708
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
GARNER TILING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
8
Called up share capital
(Continued)
- 6 -
9
Financial commitments, guarantees and contingent liabilities

During the 2021 accounting period, the company borrowed £50,000 from its bankers for a Bounce Back Loan. As part of this loan scheme, the UK government guaranteed the advance and paid the interest and fees due for the first 12 months. At the balance sheet date, the outstanding amount of the loan was £12,953 (2023: £17,708). This amount is shown within creditors within one year and over one year on the balance sheet. The interest rate on this loan is 2.50% per annum.

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