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REGISTERED NUMBER: 04500103 (England and Wales)












Gary Taberer Limited

Unaudited Financial Statements

for the Year Ended 31st July 2024






Gary Taberer Limited (Registered number: 04500103)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Gary Taberer Limited

Company Information
for the Year Ended 31st July 2024







DIRECTORS: G F C Taberer
Mrs K Taberer





SECRETARY: Mrs K Taberer





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 04500103 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Gary Taberer Limited (Registered number: 04500103)

Statement of Financial Position
31st July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 41,605 53,302

CURRENT ASSETS
Stocks 564,000 475,000
Debtors 5 23,365 259,080
Cash at bank 51,235 134,220
638,600 868,300
CREDITORS
Amounts falling due within one year 6 (280,176 ) (395,920 )
NET CURRENT ASSETS 358,424 472,380
TOTAL ASSETS LESS CURRENT
LIABILITIES

400,029

525,682

CREDITORS
Amounts falling due after more than one
year

7

(15,833

)

(25,833

)

PROVISIONS FOR LIABILITIES (6,321 ) (8,398 )
NET ASSETS 377,875 491,451

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 376,875 490,451
SHAREHOLDERS' FUNDS 377,875 491,451

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

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

Gary Taberer Limited (Registered number: 04500103)

Statement of Financial Position - continued
31st 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 Board of Directors and authorised for issue on 5th March 2025 and were signed on its behalf by:





G F C Taberer - Director


Gary Taberer Limited (Registered number: 04500103)

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

1. STATUTORY INFORMATION

Gary Taberer 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements cover the individual entity.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - Straight line over 20 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Profit on work in progress is only recognised on completion of sale of a property.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Gary Taberer Limited (Registered number: 04500103)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts, discounted at a market rate of interest.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

Gary Taberer Limited (Registered number: 04500103)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st August 2023
and 31st July 2024 13,000 101,576 1,007 35,125 150,708
DEPRECIATION
At 1st August 2023 3,900 61,065 514 31,927 97,406
Charge for year 650 10,126 122 799 11,697
At 31st July 2024 4,550 71,191 636 32,726 109,103
NET BOOK VALUE
At 31st July 2024 8,450 30,385 371 2,399 41,605
At 31st July 2023 9,100 40,511 493 3,198 53,302

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st August 2023 72,500
Transfer to ownership (72,500 )
At 31st July 2024 -
DEPRECIATION
At 1st August 2023 41,147
Charge for year 5,806
Transfer to ownership (46,953 )
At 31st July 2024 -
NET BOOK VALUE
At 31st July 2024 -
At 31st July 2023 31,353

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 5,620 562
Other debtors 17,745 258,518
23,365 259,080

Gary Taberer Limited (Registered number: 04500103)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 8,457
Trade creditors 25,169 155,143
Taxation and social security 13,968 3,576
Other creditors 231,039 218,744
280,176 395,920

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 15,833 25,833

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Hire purchase contracts - 8,457

The hire purchase contracts are secured over the assets to which they relate.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st July 2024 and 31st July 2023:

31.7.24 31.7.23
£    £   
G F C Taberer and Mrs K Taberer
Balance outstanding at start of year 111,138 46,617
Amounts advanced - 111,138
Amounts repaid (111,138 ) (46,617 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 111,138

This loan has no specific repayment terms. Interest has been charged at the official rate.