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Registered number: 06632861
Gentle Giants Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Yates & Co (Accountants) Limited
Chartered Certified Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06632861
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 180,028 60,470
180,028 60,470
CURRENT ASSETS
Stocks 5 7,000 7,000
Debtors 6 35,489 30,430
Cash at bank and in hand 159,106 223,336
201,595 260,766
Creditors: Amounts Falling Due Within One Year 7 (131,415 ) (127,667 )
NET CURRENT ASSETS (LIABILITIES) 70,180 133,099
TOTAL ASSETS LESS CURRENT LIABILITIES 250,208 193,569
Creditors: Amounts Falling Due After More Than One Year 8 (132,522 ) (59,357 )
NET ASSETS 117,686 134,212
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 117,684 134,210
SHAREHOLDERS' FUNDS 117,686 134,212
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Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Amanda Jones
Director
23/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gentle Giants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06632861 . The registered office is Stable Barn, Ganders Business Park, Kingsley, Hampshire, GU35 9LU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 14)
13 14
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 July 2023 13,786 262,075 18,045 293,906
Additions - 142,185 621 142,806
As at 30 June 2024 13,786 404,260 18,666 436,712
Depreciation
As at 1 July 2023 11,524 206,575 15,337 233,436
Provided during the period 921 21,738 589 23,248
As at 30 June 2024 12,445 228,313 15,926 256,684
...CONTINUED
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Net Book Value
As at 30 June 2024 1,341 175,947 2,740 180,028
As at 1 July 2023 2,262 55,500 2,708 60,470
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 163,475 55,500
5. Stocks
2024 2023
£ £
Stock 7,000 7,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,207 13,323
Other debtors 18,282 17,107
35,489 30,430
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 37,931 20,413
Trade creditors 18,342 23,930
Bank loans and overdrafts 10,234 9,979
Other creditors 9,412 10,577
Taxation and social security 55,496 62,768
131,415 127,667
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 121,147 37,749
Bank loans 11,375 21,608
132,522 59,357
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 37,931 20,413
Later than one year and not later than five years 121,147 37,749
159,078 58,162
159,078 58,162
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