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GARY BULLEN LTD

Registered Number
07185730
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

GARY BULLEN LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Bullen, Gary

Registered Address

Badgers Copse Cobbett Hill Road
Normandy
Guildford
GU3 2BZ

Registered Number

07185730 (England and Wales)
GARY BULLEN LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets352,35841,009
52,35841,009
Current assets
Debtors20,06516,954
Cash at bank and on hand53,81739,389
73,88256,343
Creditors amounts falling due within one year4(57,410)(51,280)
Net current assets (liabilities)16,4725,063
Total assets less current liabilities68,83046,072
Creditors amounts falling due after one year5(20,147)(12,880)
Net assets48,68333,192
Capital and reserves
Called up share capital11
Profit and loss account48,68233,191
Shareholders' funds48,68333,192
The financial statements were approved and authorised for issue by the Director on 5 March 2025, and are signed on its behalf by:
Bullen, Gary
Director
Registered Company No. 07185730
GARY BULLEN LTD
Notes to the Financial Statements
for the year ended 31 March 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities. These accounts were converted from FRS 105 from the prior period. No material impact arose with this change.
Functional and presentation currency
The financial statements are presented in £ sterling and this is the functional currency of the company.
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-25
Vehicles25-
Office Equipment-25
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.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 2344173,74874874,937
Additions-22,2385,03327,271
At 31 March 2444195,9865,781102,208
Depreciation and impairment
At 01 April 2313733,55823333,928
Charge for year11014,6811,13115,922
At 31 March 2424748,2391,36449,850
Net book value
At 31 March 2419447,7474,41752,358
At 31 March 2330440,19051541,009
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables39,41129,342
Bank borrowings and overdrafts2,9678,306
Taxation and social security14,33012,089
Accrued liabilities and deferred income7021,543
Total57,41051,280
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts20,14712,880
Total20,14712,880
6.Related party transactions
Dividends of £30,074.93 were paid to the director of the company.