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GYPSUM LIMITED

Registered Number
05457473
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

GYPSUM LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

EVANS, James Anthony
EVANS, Katherine Anne
KIMBER, Paul Stephen

Company Secretary

EVANS, Katherine Anne

Registered Address

21b Picton House
Hussar Court
Waterlooville
PO7 7SQ

Registered Number

05457473 (England and Wales)
GYPSUM LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4144,963135,703
144,963135,703
Current assets
Stocks5198,850199,095
Debtors124,807294,981
Cash at bank and on hand1,740,4731,087,557
2,064,1301,581,633
Creditors amounts falling due within one year6(700,693)(551,089)
Net current assets (liabilities)1,363,4371,030,544
Total assets less current liabilities1,508,4001,166,247
Creditors amounts falling due after one year7-(298)
Provisions for liabilities9(11,970)(9,435)
Net assets1,496,4301,156,514
Capital and reserves
Called up share capital1313
Other reserves9090
Profit and loss account1,496,3271,156,411
Shareholders' funds1,496,4301,156,514
The financial statements were approved and authorised for issue by the Board of Directors on 28 February 2025, and are signed on its behalf by:
EVANS, Katherine Anne
Director
Registered Company No. 05457473
GYPSUM LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Intangible assets
Amortisation is calculated so as to write off the cost of an Intangible asset, less its estimated residual value, over the useful life of that asset.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-125
Fixtures and fittings25-
Vehicles25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year99
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 November 23620,000620,000
At 31 October 24620,000620,000
Amortisation and impairment
At 01 November 23620,000620,000
At 31 October 24620,000620,000
Net book value
At 31 October 24--
At 31 October 23--
4.Tangible fixed assets

Land & buildings

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 November 23110,00067,36461,887239,251
Additions-25,05529225,347
Disposals--(43)(43)
At 31 October 24110,00092,41962,136264,555
Depreciation and impairment
At 01 November 239,68048,41645,452103,548
Charge for year88011,0014,17416,055
On disposals--(11)(11)
At 31 October 2410,56059,41749,615119,592
Net book value
At 31 October 2499,44033,00212,521144,963
At 31 October 23100,32018,94816,435135,703
5.Stocks

2024

2023

££
Work in progress198,850199,095
Total198,850199,095
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables241,871229,538
Taxation and social security237,065145,828
Finance lease and HP contracts2983,576
Other creditors84,787165,397
Accrued liabilities and deferred income136,6726,750
Total700,693551,089
7.Creditors: amounts due after one year

2024

2023

££
Other creditors-298
Total-298
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts-298
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)11,9709,435
Total11,9709,435