Graham Prestwich Ltd
Registered number: 06189336
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 764 1,019
Current assets
Stocks 9,992 9,992
Debtors 5 4,000 4,000
Cash at bank and in hand 8,347 8,453
22,339 22,445
Creditors: amounts falling due within one year 6 (600) (600)
Net current assets 21,739 21,845
Total assets less current liabilities 22,503 22,864
Creditors: amounts falling due after more than one year 7 (228) (228)
Net assets 22,275 22,636
Capital and reserves
Called up share capital 100 100
Profit and loss account 22,175 22,536
Shareholder's funds 22,275 22,636
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Prestwich
Director
Approved by the board on 18 February 2025
Graham Prestwich Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 2,750
At 31 May 2024 2,750
Amortisation
At 1 June 2023 2,750
At 31 May 2024 2,750
Net book value
At 31 May 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 7,428 15,191 22,619
At 31 May 2024 7,428 15,191 22,619
Depreciation
At 1 June 2023 7,322 14,278 21,600
Charge for the year 27 228 255
At 31 May 2024 7,349 14,506 21,855
Net book value
At 31 May 2024 79 685 764
At 31 May 2023 106 913 1,019
5 Debtors 2024 2023
£ £
Trade debtors 4,000 4,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 600 600
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 228 228
8 Controlling party
The ultimate controlling party during the period was Mr G Prestwich.
9 Other information
Graham Prestwich Ltd is a private company limited by shares and incorporated in England. Its registered office is:
54 Richmondfield Avenue
Barwick-In-Elmet
Leeds
LS15 4ET
Graham Prestwich Ltd 06189336 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Mr G Prestwich No description of principal activity 06189336 2022-06-01 2023-05-31 06189336 core:WithinOneYear 2023-05-31 06189336 core:AfterOneYear 2023-05-31 06189336 core:ShareCapital 2023-05-31 06189336 core:RetainedEarningsAccumulatedLosses 2023-05-31 06189336 2023-06-01 2024-05-31 06189336 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06189336 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06189336 bus:Director40 2023-06-01 2024-05-31 06189336 core:LandBuildings 2023-06-01 2024-05-31 06189336 core:PlantMachinery 2023-06-01 2024-05-31 06189336 countries:England 2023-06-01 2024-05-31 06189336 bus:FRS102 2023-06-01 2024-05-31 06189336 bus:FilletedAccounts 2023-06-01 2024-05-31 06189336 2024-05-31 06189336 core:WithinOneYear 2024-05-31 06189336 core:AfterOneYear 2024-05-31 06189336 core:ShareCapital 2024-05-31 06189336 core:RetainedEarningsAccumulatedLosses 2024-05-31 06189336 core:Goodwill 2024-05-31 06189336 core:LandBuildings 2024-05-31 06189336 core:PlantMachinery 2024-05-31 06189336 2023-05-31 06189336 core:Goodwill 2023-05-31 06189336 core:LandBuildings 2023-05-31 06189336 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure