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Registered number: 14203805
Gaines & Wilkinson Ltd
Financial Statements
For The Year Ended 30 June 2024
APR Accountancy Services
Shan House
80-86 North Street
Keighley
West Yorkshire
BD21 3AF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14203805
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 20,623 -
Tangible Assets 5 237 316
20,860 316
CURRENT ASSETS
Debtors 6 28,965 17,752
Cash at bank and in hand 1,410 133
30,375 17,885
Creditors: Amounts Falling Due Within One Year 7 (36,450 ) (18,093 )
NET CURRENT ASSETS (LIABILITIES) (6,075 ) (208 )
TOTAL ASSETS LESS CURRENT LIABILITIES 14,785 108
Creditors: Amounts Falling Due After More Than One Year 8 (11,353 ) -
NET ASSETS 3,432 108
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 3,332 8
SHAREHOLDERS' FUNDS 3,432 108
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Julia Gatenby
Director
07/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gaines & Wilkinson Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14203805 . The registered office is Shan House, 80-86 North Street, Keighley, West yorkshire, BD21 3AF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. 
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised at 10% straight line basis over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office Equipment 25% RB
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
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4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 -
Additions 22,915
As at 30 June 2024 22,915
Amortisation
As at 1 July 2023 -
Provided during the period 2,292
As at 30 June 2024 2,292
Net Book Value
As at 30 June 2024 20,623
As at 1 July 2023 -
5. Tangible Assets
Office Equipment
£
Cost
As at 1 July 2023 421
As at 30 June 2024 421
Depreciation
As at 1 July 2023 105
Provided during the period 79
As at 30 June 2024 184
Net Book Value
As at 30 June 2024 237
As at 1 July 2023 316
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,360 3,638
Director's loan account 27,605 14,114
28,965 17,752
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 4,120 -
Corporation tax 7,645 4,667
Other taxes and social security - 92
VAT 24,255 12,914
Accruals and deferred income 430 420
36,450 18,093
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,353 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors: £27,605
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Ms Julia Gatenby 14,114 27,605 14,114 - 27,605
The above loan is unsecured, interest free and repayable on demand.
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