Registered number
09728257
K Gawronski Ltd
Filleted Accounts
31 August 2024
K Gawronski Ltd
Registered number: 09728257
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,000 4,000
Tangible assets 4 33,423 3,512
35,423 7,512
Current assets
Stocks 1,985 1,917
Debtors 5 7,033 4,438
Cash at bank and in hand 53,413 79,837
62,431 86,192
Creditors: amounts falling due within one year 6 (18,459) (26,818)
Net current assets 43,972 59,374
Total assets less current liabilities 79,395 66,886
Creditors: amounts falling due after more than one year 7 (14,583) -
Provisions for liabilities (6,350) (667)
Net assets 58,462 66,219
Capital and reserves
Called up share capital 100 100
Profit and loss account 58,362 66,119
Shareholders' funds 58,462 66,219
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
K Gawronski
Director
Approved by the board on 7 February 2025
K Gawronski Ltd
Notes to the Accounts
for the year ended 31 August 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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% reducing balance
Motor vehicles 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 20,000
At 31 August 2024 20,000
Amortisation
At 1 September 2023 16,000
Provided during the year 2,000
At 31 August 2024 18,000
Net book value
At 31 August 2024 2,000
At 31 August 2023 4,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 3,029 21,816 24,845
Additions - 33,951 33,951
Disposals - (21,816) (21,816)
At 31 August 2024 3,029 33,951 36,980
Depreciation
At 1 September 2023 2,428 18,905 21,333
Charge for the year 150 979 1,129
On disposals - (18,905) (18,905)
At 31 August 2024 2,578 979 3,557
Net book value
At 31 August 2024 451 32,972 33,423
At 31 August 2023 601 2,911 3,512
5 Debtors 2024 2023
£ £
Trade debtors 2,246 3,599
Other debtors 4,787 839
7,033 4,438
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 5,000 -
Trade creditors 6,676 10,217
Taxation and social security costs 4,929 15,010
Other creditors 1,854 1,591
18,459 26,818
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 14,583 -
8 Related party transactions
The company paid a dividend of £25500 to each of the directors Mr K. Gawronski and Mrs L Gawronski.
9 Controlling party
The company is under the control of Mr K Gawronski.and Mrs L Gawronski, the sole directors and shareholders.
10 Other information
K Gawronski Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5a Bath Place
Taunton
Somerset
TA1 4ER
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