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REGISTERED NUMBER: 08157251 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 July 2024

for

G E Norgan Limited

G E Norgan Limited (Registered number: 08157251)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G E Norgan Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: I M Thrush





REGISTERED OFFICE: Unit 1b, Focus Four
Fourth Avenue
Letchworth
Hertfordshire
SG6 2TU





REGISTERED NUMBER: 08157251 (England and Wales)





ACCOUNTANTS: George Hay Partnership LLP
Chartered Accountants
Unit 1B
Focus 4
Fourth Avenue
Letchworth
Hertfordshire
SG6 2TU

G E Norgan Limited (Registered number: 08157251)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 29,091 23,874
29,091 23,874

CURRENT ASSETS
Stocks 8,000 5,000
Debtors 5 468,565 1,079,093
Cash at bank 123,603 108,499
600,168 1,192,592
CREDITORS
Amounts falling due within one year 6 235,715 193,292
NET CURRENT ASSETS 364,453 999,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

393,544

1,023,174

CREDITORS
Amounts falling due after more than one
year

7

16,812

27,443
NET ASSETS 376,732 995,731

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 376,731 995,730
SHAREHOLDERS' FUNDS 376,732 995,731

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

G E Norgan Limited (Registered number: 08157251)

Balance Sheet - continued
31 July 2024


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 director and authorised for issue on 3 March 2025 and were signed by:





I M Thrush - Director


G E Norgan Limited (Registered number: 08157251)

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

1. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

G E Norgan Limited (Registered number: 08157251)

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

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 22 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 62,000
AMORTISATION
At 1 August 2023
and 31 July 2024 62,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 60,439
Additions 15,013
At 31 July 2024 75,452
DEPRECIATION
At 1 August 2023 36,565
Charge for year 9,796
At 31 July 2024 46,361
NET BOOK VALUE
At 31 July 2024 29,091
At 31 July 2023 23,874

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 157,054 111,517
Amounts owed by group undertakings 188,736 842,063
Sundry Debtors and Prepayments 122,775 125,513
468,565 1,079,093

G E Norgan Limited (Registered number: 08157251)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 9,831
Tax 133,759 75,675
Sundry Creditors and Accruals 73,227 84,192
Taxation & Social Security 18,081 23,594
235,715 193,292

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,648 10,085
Bank loans - 2-5 years 6,164 17,358
16,812 27,443