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Company No: 12526468 (England and Wales)

GAM.BRISTOL LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

GAM.BRISTOL LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

GAM.BRISTOL LTD

BALANCE SHEET

As at 30 June 2024
GAM.BRISTOL LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 63,270 64,610
63,270 64,610
Current assets
Stocks 21,237 19,930
Debtors 5 115,148 257,868
Cash at bank and in hand 182,625 278,384
319,010 556,182
Creditors: amounts falling due within one year 6 ( 204,049) ( 261,996)
Net current assets 114,961 294,186
Total assets less current liabilities 178,231 358,796
Creditors: amounts falling due after more than one year 7 ( 10,851) ( 16,897)
Provision for liabilities ( 14,564) ( 15,211)
Net assets 152,816 326,688
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 152,814 326,686
Total shareholders' funds 152,816 326,688

For the financial 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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of GAM.BRISTOL Ltd (registered number: 12526468) were approved and authorised for issue by the Board of Directors on 24 February 2025. They were signed on its behalf by:

I Waite
Director
GAM.BRISTOL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
GAM.BRISTOL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

GAM.BRISTOL Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor, 90 Victoria Street, Bristol, BS1 6DP, United Kingdom. The principal place of business is Unit 12, Cargo 2, Wapping Wharf, Bristol, BS1 6 ZA.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of food and drinks in the normal course of business. Turnover is shown net of value added tax and discounts. Revenue in respect of food and drink sales is recognised at the point in which the goods are provided. Revenue in respect of gift voucher sales is deferred and recognised in the period in which the voucher is redeemed.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 1 years straight line
Trademarks, patents and licences 1 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 3 years straight line
Fixtures and fittings 3 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete and slow-moving where appropriate.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 35 44

3. Intangible assets

Goodwill Trademarks, patents
and licences
Total
£ £ £
Cost
At 01 July 2023 1 1 2
At 30 June 2024 1 1 2
Accumulated amortisation
At 01 July 2023 1 1 2
At 30 June 2024 1 1 2
Net book value
At 30 June 2024 0 0 0
At 30 June 2023 0 0 0

4. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 July 2023 33,329 61,468 2,640 97,437
Additions 0 40,942 425 41,367
At 30 June 2024 33,329 102,410 3,065 138,804
Accumulated depreciation
At 01 July 2023 13,887 18,867 73 32,827
Charge for the financial year 11,110 30,717 880 42,707
At 30 June 2024 24,997 49,584 953 75,534
Net book value
At 30 June 2024 8,332 52,826 2,112 63,270
At 30 June 2023 19,442 42,601 2,567 64,610
Leased assets included above:
Net book value
At 30 June 2024 8,332 0 0 8,332
At 30 June 2023 19,442 0 0 19,442

5. Debtors

2024 2023
£ £
Trade debtors 1,561 165
Amounts owed by directors 0 175,719
Prepayments 2,513 4,232
Corporation tax 2,561 0
Other debtors 108,513 77,752
115,148 257,868

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 34,719 96,524
Amounts owed to directors 4,585 0
Accruals 24,663 19,453
Corporation tax 0 16,084
Other taxation and social security 62,558 51,712
Obligations under finance leases and hire purchase contracts 6,045 6,045
Other creditors 71,479 72,178
204,049 261,996

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 10,851 16,897

Finance leases and hire purchase contracts are secured against the assets to which they relate.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Related party transactions

Transactions with the entity's directors

At the year end the Company owed the Directors £4,585 (2023 - £175,719 owed to the Company). The loans are repayable on demand and interest is charged at 2.25%.

Other related party transactions

At the year end the Company was owed £Nil (2023 - £35,000) by an entity connected by virtue of common control. The loan was written off during the year.

The Company also owed £Nil (2023 - £8,000) to another entity connected by virtue of common control. The loan was interest free and repayable on demand.

During the year the Company was charged management fees of £111,923 (2023 - £121,135 ) from this entity. At the year end £8,104 of management fees were unpaid. This is disclosed under trade creditors.