IRIS Accounts Production v24.3.2.46 01022035 director 1.10.23 30.9.24 30.9.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh010220352023-09-30010220352024-09-30010220352023-10-012024-09-30010220352022-09-30010220352022-10-012023-09-30010220352023-09-3001022035ns15:EnglandWales2023-10-012024-09-3001022035ns14:PoundSterling2023-10-012024-09-3001022035ns10:Director12023-10-012024-09-3001022035ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3001022035ns10:SmallEntities2023-10-012024-09-3001022035ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3001022035ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3001022035ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3001022035ns10:FullAccounts2023-10-012024-09-3001022035ns10:RegisteredOffice2023-10-012024-09-3001022035ns5:CurrentFinancialInstruments2024-09-3001022035ns5:CurrentFinancialInstruments2023-09-3001022035ns5:Non-currentFinancialInstruments2024-09-3001022035ns5:Non-currentFinancialInstruments2023-09-3001022035ns5:ShareCapital2024-09-3001022035ns5:ShareCapital2023-09-3001022035ns5:RetainedEarningsAccumulatedLosses2024-09-3001022035ns5:RetainedEarningsAccumulatedLosses2023-09-3001022035ns5:PlantMachinery2023-10-012024-09-3001022035ns5:FurnitureFittings2023-10-012024-09-3001022035ns5:MotorVehicles2023-10-012024-09-3001022035ns5:PlantMachinery2023-09-3001022035ns5:FurnitureFittings2023-09-3001022035ns5:MotorVehicles2023-09-3001022035ns5:PlantMachinery2024-09-3001022035ns5:FurnitureFittings2024-09-3001022035ns5:MotorVehicles2024-09-3001022035ns5:PlantMachinery2023-09-3001022035ns5:FurnitureFittings2023-09-3001022035ns5:MotorVehicles2023-09-3001022035ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3001022035ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3001022035ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-09-3001022035ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-09-3001022035ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-09-3001022035ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-09-3001022035ns5:HirePurchaseContracts2024-09-3001022035ns5:HirePurchaseContracts2023-09-3001022035ns5:WithinOneYear2024-09-3001022035ns5:WithinOneYear2023-09-3001022035ns5:BetweenOneFiveYears2024-09-3001022035ns5:BetweenOneFiveYears2023-09-3001022035ns5:AllPeriods2024-09-3001022035ns5:AllPeriods2023-09-30
REGISTERED NUMBER: 01022035 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

GULLIVER TIMBER TREATMENTS LIMITED

GULLIVER TIMBER TREATMENTS LIMITED (REGISTERED NUMBER: 01022035)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GULLIVER TIMBER TREATMENTS LIMITED

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: R J Gulliver





REGISTERED OFFICE: First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY





BUSINESS ADDRESS: Unit G1 Chaucer Business Park
Watery Lane
Kemsing
Sevenoaks
Kent
TN15 6HU





REGISTERED NUMBER: 01022035 (England and Wales)





ACCOUNTANTS: Galloways Accounting
First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY

GULLIVER TIMBER TREATMENTS LIMITED (REGISTERED NUMBER: 01022035)

Balance Sheet
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 198,457 113,659

CURRENT ASSETS
Stocks 14,889 14,024
Debtors 5 637,791 523,890
Cash at bank and in hand 296,496 471,529
949,176 1,009,443
CREDITORS
Amounts falling due within one year 6 275,182 238,082
NET CURRENT ASSETS 673,994 771,361
TOTAL ASSETS LESS CURRENT
LIABILITIES

872,451

885,020

CREDITORS
Amounts falling due after more than one
year

7

(8,492

)

(14,153

)

PROVISIONS FOR LIABILITIES (49,614 ) (28,415 )
NET ASSETS 814,345 842,452

CAPITAL AND RESERVES
Called up share capital 91 91
Retained earnings 814,254 842,361
814,345 842,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Profit and loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 March 2025 and were signed by:





R J Gulliver - Director


GULLIVER TIMBER TREATMENTS LIMITED (REGISTERED NUMBER: 01022035)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Gulliver Timber Treatments 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 (£).


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 recognised at the fair value of the consideration received or receivable for the provision of wood preservation and damp proofing treatment services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

GULLIVER TIMBER TREATMENTS LIMITED (REGISTERED NUMBER: 01022035)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

GULLIVER TIMBER TREATMENTS LIMITED (REGISTERED NUMBER: 01022035)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

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.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

GULLIVER TIMBER TREATMENTS LIMITED (REGISTERED NUMBER: 01022035)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 22,436 60,656 251,425 334,517
Additions 3,277 - 118,017 121,294
Disposals - - (16,127 ) (16,127 )
At 30 September 2024 25,713 60,656 353,315 439,684
DEPRECIATION
At 1 October 2023 18,560 43,441 158,857 220,858
Charge for year 1,106 1,722 30,841 33,669
Eliminated on disposal - - (13,300 ) (13,300 )
At 30 September 2024 19,666 45,163 176,398 241,227
NET BOOK VALUE
At 30 September 2024 6,047 15,493 176,917 198,457
At 30 September 2023 3,876 17,215 92,568 113,659

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 229,204 221,346
Amounts owed by participating interests 4,385 -
Other debtors 404,202 302,544
637,791 523,890

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 8) 5,661 5,661
Trade creditors 179,128 111,878
Taxation and social security 35,888 78,808
Other creditors 54,505 41,735
275,182 238,082

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 8) 8,492 14,153

GULLIVER TIMBER TREATMENTS LIMITED (REGISTERED NUMBER: 01022035)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 5,661 5,661
Between one and five years 8,492 14,153
14,153 19,814

Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 79,678 64,778
Between one and five years 79,998 129,876
159,676 194,654

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £54,000 (2023 - £54,000) were paid to the director .

As at the balance sheet date R J Gulliver owed the company £313,009 (2023: £225,128) and this amount has been included on the balance sheet within other debtors.