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REGISTERED NUMBER: 00320491 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 May 2024

for

Gladman & Norman Limited

Gladman & Norman Limited (Registered number: 00320491)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gladman & Norman Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P McDermott
Mrs D J Nalbant





REGISTERED OFFICE: 56 Broad Street
Sidemoor
Bromsgrove
Worcestershire
B61 8LL





REGISTERED NUMBER: 00320491 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Chartered Accountants
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Gladman & Norman Limited (Registered number: 00320491)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 219,685 165,331

CURRENT ASSETS
Stocks 1,149,866 1,057,060
Debtors 5 1,942,139 643,985
Cash at bank and in hand 1,586,202 1,422,561
4,678,207 3,123,606
CREDITORS
Amounts falling due within one year 6 1,119,164 426,222
NET CURRENT ASSETS 3,559,043 2,697,384
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,778,728

2,862,715

CREDITORS
Amounts falling due after more than one year 7 (10,109 ) (20,100 )

PROVISIONS FOR LIABILITIES (54,920 ) (31,415 )
NET ASSETS 3,713,699 2,811,200

CAPITAL AND RESERVES
Called up share capital 19,600 19,600
Retained earnings 3,694,099 2,791,600
SHAREHOLDERS' FUNDS 3,713,699 2,811,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 20 January 2025 and were signed on its behalf by:



Mrs D J Nalbant - Director


Gladman & Norman Limited (Registered number: 00320491)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Gladman & Norman 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 10% to 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

No depreciation is provided on freehold buildings as it is the company's policy to maintain its property in good condition to preserve its residual value such that any depreciation is immaterial. Maintenance is regularly undertaken and charged to profit and loss account.


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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
Contributions in respect of the company's defined contribution scheme are charged to the profit and loss account for the year in which they are payable to the scheme.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 27 ) .

Gladman & Norman Limited (Registered number: 00320491)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 46,886 673,044 64,568 11,362 795,860
Additions - 104,760 1,545 - 106,305
Disposals - - (32,119 ) (71,252 ) (103,371 )
At 31 May 2024 46,886 777,804 33,994 (59,890 ) 798,794
DEPRECIATION
At 1 June 2023 - 576,010 46,078 8,441 630,529
Charge for year - 22,252 4,612 730 27,594
Eliminated on disposal - (46,908 ) (32,106 ) - (79,014 )
At 31 May 2024 - 551,354 18,584 9,171 579,109
NET BOOK VALUE
At 31 May 2024 46,886 226,450 15,410 (69,061 ) 219,685
At 31 May 2023 46,886 97,034 18,490 2,921 165,331

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,446,579 132,513
Amounts owed by related parties 474,923 474,923
Other debtors 300 19,243
Prepayments and accrued income 20,337 17,306
1,942,139 643,985

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts - 6,808
Trade creditors 294,659 63,221
Tax 333,901 138,642
Social security and other taxes 316,328 77,851
Other creditors 143,297 119,332
Accrued expenses 20,331 9,720
1,119,164 426,222

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,109 20,100

Gladman & Norman Limited (Registered number: 00320491)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 20,757 30,748
Hire purchase contracts - 6,808
20,757 37,556

9. RELATED PARTY DISCLOSURES

The total balance due to the directors at 31st May 2024 was £975 (2023 - £975).
The balance due from the holding company at 31st May 2024 was £475,223 (2023 - £475,223).
The balance due from companies in which the director has a beneficial interest as at 31st May 2024 was £1,294,337 (2023 due to - £9,818).

The parent undertaking is WM Holdings (UK) Limited with a registered office at 56 Broad Street, Sidemoor, Bromsgrove, Worcestershire, B61 8LL.