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Registered Number: 06818546


 

 

 

GONZO DISTRIBUTION LTD


Abridged Accounts
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Gonzo Distribution Ltd for the year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gonzo Distribution Ltd for the year ended 30 September 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Gonzo Distribution Ltd , as a body, in accordance with the terms of our engagement letter dated 05 February 2025. Our work has been undertaken solely to prepare for your approval the accounts of Gonzo Distribution Ltd and state those matters that we have agreed to state to the Board of Directors of Gonzo Distribution Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gonzo Distribution Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Gonzo Distribution Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gonzo Distribution Ltd . You consider that Gonzo Distribution Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Gonzo Distribution Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts30 September 2024



....................................................
Bevis & Co
38 College Road
Epsom
KT17 4HJ
05 February 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 6,250    8,333 
6,250    8,333 
Current assets      
Stocks 13,955    26,788 
Debtors 95,189    221,563 
Cash at bank and in hand 243,228    47,806 
352,372    296,157 
Creditors: amount falling due within one year (326,131)   (310,779)
Net current assets 26,241    (14,622)
 
Total assets less current liabilities 32,491    (6,289)
Creditors: amount falling due after more than one year (29,760)   (36,082)
Provisions for liabilities (1,543)   (1,565)
Net assets 1,188    (43,936)
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 1,178    (43,946)
Shareholders' funds 1,188    (43,936)
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 05 February 2025 and were signed by:


-------------------------------
Robin Mark Ayling
Director
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General Information
Gonzo Distribution Ltd is a private company, limited by shares, registered in , registration number 06818546, registration address Gonzo Distribution Ltd , Sunrise Lane, Houghton le Spring, DH4 5AL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Computer Equipment 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 October 2023 13,882    10,484    24,366 
Additions    
Disposals    
At 30 September 2024 13,882    10,484    24,366 
Depreciation
At 01 October 2023 8,681    7,352    16,033 
Charge for year 1,300    783    2,083 
On disposals    
At 30 September 2024 9,981    8,135    18,116 
Net book values
Closing balance as at 30 September 2024 3,901    2,349    6,250 
Opening balance as at 01 October 2023 5,201    3,132    8,333 


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