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REGISTERED NUMBER: 05115120 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Ron Gale & Sons Limited

Ron Gale & Sons Limited (Registered number: 05115120)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Ron Gale & Sons Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: J D Gale
C J Gale
J L Gale





REGISTERED OFFICE: Unit 21
Corringham Road Industrial Estate
Gainsborough
Lincolnshire
DN21 1QB





REGISTERED NUMBER: 05115120 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ron Gale & Sons Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ron Gale & Sons Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ron Gale & Sons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ron Gale & Sons Limited and state those matters that we have agreed to state to the Board of Directors of Ron Gale & Sons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ron Gale & Sons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ron Gale & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ron Gale & Sons Limited. You consider that Ron Gale & Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ron Gale & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


27 February 2025

Ron Gale & Sons Limited (Registered number: 05115120)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 444,777 456,031

CURRENT ASSETS
Stocks 8,325 7,929
Debtors 5 653,005 569,078
Cash at bank and in hand 822,149 653,798
1,483,479 1,230,805
CREDITORS
Amounts falling due within one year 6 385,746 329,347
NET CURRENT ASSETS 1,097,733 901,458
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,542,510

1,357,489

PROVISIONS FOR LIABILITIES 67,288 52,421
NET ASSETS 1,475,222 1,305,068

CAPITAL AND RESERVES
Called up share capital 7 300 300
Retained earnings 1,474,922 1,304,768
SHAREHOLDERS' FUNDS 1,475,222 1,305,068

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 25 February 2025 and were signed on its behalf by:




C J Gale - Director J D Gale - Director




J L Gale - Director


Ron Gale & Sons Limited (Registered number: 05115120)

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

1. STATUTORY INFORMATION

Ron Gale & Sons 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.
Land and Buildings - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost 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 Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 17 ) .

Ron Gale & Sons Limited (Registered number: 05115120)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and
Buildings machinery fittings
£    £    £   
COST
At 1 June 2023 225,339 120,127 12,386
Additions - - 3,794
Disposals - - -
At 31 May 2024 225,339 120,127 16,180
DEPRECIATION
At 1 June 2023 45,208 101,834 11,417
Charge for year 4,507 4,573 400
Eliminated on disposal - - -
At 31 May 2024 49,715 106,407 11,817
NET BOOK VALUE
At 31 May 2024 175,624 13,720 4,363
At 31 May 2023 180,131 18,293 969

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 591,613 35,155 984,620
Additions 93,027 3,904 100,725
Disposals (49,108 ) - (49,108 )
At 31 May 2024 635,532 39,059 1,036,237
DEPRECIATION
At 1 June 2023 351,638 18,492 528,589
Charge for year 66,282 3,698 79,460
Eliminated on disposal (16,589 ) - (16,589 )
At 31 May 2024 401,331 22,190 591,460
NET BOOK VALUE
At 31 May 2024 234,201 16,869 444,777
At 31 May 2023 239,975 16,663 456,031

Included in cost of land and buildings is freehold land of £ 17,727 (2023 - £ 17,727 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 542,144 371,116
Other debtors 110,861 197,962
653,005 569,078

Ron Gale & Sons Limited (Registered number: 05115120)

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 66,754 166,499
Taxation and social security 285,229 117,747
Other creditors 33,763 45,101
385,746 329,347

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary £1 300 300