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REGISTERED NUMBER: 00528221













Unaudited Financial Statements

for the Year Ended 31 May 2024

for

W. Gadsby And Son Limited

W. Gadsby And Son Limited (Registered number: 00528221)






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


W. Gadsby And Son Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P C Gadsby
Mrs V B Gadsby
W Gadsby





SECRETARY: P C Gadsby





REGISTERED OFFICE: Huntworth Business Park
Bridgwater
Somerset
TA6 6TS





REGISTERED NUMBER: 00528221





ACCOUNTANTS: A C Mole LLP
Chartered Accountants
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

W. Gadsby And Son Limited (Registered number: 00528221)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 160,964 103,728

CURRENT ASSETS
Stocks 544,182 870,251
Debtors 5 696,318 1,499,022
Cash at bank 1,936,030 1,151,387
3,176,530 3,520,660
CREDITORS
Amounts falling due within one year 6 324,977 606,608
NET CURRENT ASSETS 2,851,553 2,914,052
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,012,517

3,017,780

PROVISIONS FOR LIABILITIES 28,000 21,000
NET ASSETS 2,984,517 2,996,780

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Retained earnings 8 2,978,517 2,990,780
SHAREHOLDERS' FUNDS 2,984,517 2,996,780

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 26 February 2025 and were signed on its behalf by:





P C Gadsby - Director


W. Gadsby And Son Limited (Registered number: 00528221)

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

1. STATUTORY INFORMATION

W.Gadsby And Son Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office 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.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. Having given due consideration to the estimates and assumptions that form part of the carrying amounts of assets and liabilities within the financial statements, the directors are of the opinion that there are no such estimates that would have a material impact on the financial statements.

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

Depreciation
Depreciation is provided on tangible fixed assets in annual instalments in order to write them down to their estimated residual values over their anticipated lives.
The rates of depreciation used are as follows:

Computer equipment 20% per annum on cost
Plant, machinery & office equipment15% per annum on written down value
Motor vehicles & tractor25% per annum on written down value
Improvements to property10% per annum on cost

Stock
Stocks are stated at the lower of cost and net realisable value. Cost includes purchase price plus incidental direct costs.

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.

W. Gadsby And Son Limited (Registered number: 00528221)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Distribution to equity holders
Dividends to company shareholders are recognised as a liability in the financial statements in the period in which the dividends are approved by the company shareholders. These amounts are recognised in the statement of changes in equity.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors.

Debt instruments, such as trade debtors and creditors, are initially measured at transaction price and subsequently measured at amortised cost.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 June 2023 34,000 659,375 693,375
Additions 35,020 61,048 96,068
At 31 May 2024 69,020 720,423 789,443
DEPRECIATION
At 1 June 2023 34,000 555,647 589,647
Charge for year 3,502 35,330 38,832
At 31 May 2024 37,502 590,977 628,479
NET BOOK VALUE
At 31 May 2024 31,518 129,446 160,964
At 31 May 2023 - 103,728 103,728


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 380,047 1,146,199
Amounts owed by associates 250,000 250,000
Other debtors 66,271 102,823
696,318 1,499,022

W. Gadsby And Son Limited (Registered number: 00528221)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 232,895 431,782
Taxation and social security 44,352 135,564
Other creditors 47,730 39,262
324,977 606,608

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 200,000 22,917
Between one and five years 633,333 -
833,333 22,917

8. RESERVES
Retained
earnings
£   

At 1 June 2023 2,990,780
Profit for the year 487,737
Dividends (500,000 )
At 31 May 2024 2,978,517

9. ULTIMATE CONTROLLING PARTY

The company is controlled by its Directors