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REGISTERED NUMBER: 13130038 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Gary R Owens Limited

Gary R Owens Limited (Registered number: 13130038)






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


Gary R Owens Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr Gary Owens





REGISTERED OFFICE: 18 St Christopher's Way
Pride Park
Derby
Derbyshire
DE24 8JY





REGISTERED NUMBER: 13130038 (England and Wales)





ACCOUNTANTS: Franklins
18 St Christopher's Way
Pride Park
Derby
Derbyshire
DE24 8JY

Gary R Owens Limited (Registered number: 13130038)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 885,486 885,486

CURRENT ASSETS
Debtors 5 13,000 10,000
Cash at bank 54,749 8,000
67,749 18,000
CREDITORS
Amounts falling due within one year 6 345,867 546,375
NET CURRENT LIABILITIES (278,118 ) (528,375 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

607,368

357,111

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 607,268 357,011
SHAREHOLDERS' FUNDS 607,368 357,111

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





Mr Gary Owens - Director


Gary R Owens Limited (Registered number: 13130038)

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

1. STATUTORY INFORMATION

Gary R Owens 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, except for the accounting policy detailed below in regard to interest free loans. The financial statements have been prepared under the historical cost convention.

Investments in associates
Investments in associate undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 June 2023
and 31 May 2024 885,486
NET BOOK VALUE
At 31 May 2024 885,486
At 31 May 2023 885,486

Gary R Owens Limited (Registered number: 13130038)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 13,000 10,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 329,604 484,367
Directors' current accounts 15,213 60,988
Accruals and deferred income 1,050 1,020
345,867 546,375

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
51 Ordinary A 1 51 51
49 Ordinary B 1 49 49
100 100

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr Gary Owens
Balance outstanding at start of year - -
Amounts advanced 54,791 -
Amounts repaid (54,791 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest was charged on the overdrawn director's loan account at HM Revenue & Customs official rate of interest during the year being 2.25% per annum.