Registered number
11423805
GR Pawnbrokers Ltd
Filleted Accounts
30 June 2024
GR Pawnbrokers Ltd
Registered number: 11423805
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 32,153 -
Current assets
Stocks 29,909 38,729
Debtors 4 769,474 599,355
Cash at bank and in hand 36,932 92,046
836,315 730,130
Creditors: amounts falling due within one year 5 (42,721) (39,027)
Net current assets 793,594 691,103
Total assets less current liabilities 825,747 691,103
Creditors: amounts falling due after more than one year 6 (328,655) (327,719)
Net assets 497,092 363,384
Capital and reserves
Called up share capital 100 100
Profit and loss account 496,992 363,284
Shareholder's funds 497,092 363,384
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
S Dodson
Director
Approved by the board on 24 February 2025
GR Pawnbrokers Ltd
Notes to the Accounts
for the year ended 30 June 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.
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 over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 2
3 Tangible fixed assets
Motor vehicles
£
Cost
Additions 34,297
At 30 June 2024 34,297
Depreciation
Charge for the year 2,144
At 30 June 2024 2,144
Net book value
At 30 June 2024 32,153
4 Debtors 2024 2023
£ £
Other debtors 769,474 599,355
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 3,384 -
Trade creditors 5,194 1,088
Taxation and social security costs 34,143 34,236
Other creditors - 3,703
42,721 39,027
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 27,196 -
Other creditors 301,459 327,719
328,655 327,719
7 Related party transactions
Included in other creditors are amounts owed to directors of £238,757 (2023:£235,107). Included in other creditors are amounts owed to a company under common control of £62,702 (2023:£92,611).
8 Controlling party
The company is controlled by Mr S Dodson.
9 Other information
GR Pawnbrokers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
50 Hoyland Road
Hoyland Common
Barnsley
S74 0PB
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