REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
FOR |
GAYNOR GROUP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
FOR |
GAYNOR GROUP LIMITED |
GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GAYNOR GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Court House |
Court Road |
Bridgend |
CF31 1BE |
GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945) |
BALANCE SHEET |
28 FEBRUARY 2025 |
2025 | 2024 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 11 |
Capital redemption reserve |
Fair value reserve | 11 | 189,129 |
Retained earnings |
SHAREHOLDERS' FUNDS |
GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945) |
BALANCE SHEET - continued |
28 FEBRUARY 2025 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
1. | STATUTORY INFORMATION |
Gaynor Group Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company ceased trading on the year end and is proposed to enter into a members voluntary liquidation. Accordingly the accounts are effectively prepared on the break up basis. |
Preparation of consolidated financial statements |
The financial statements contain information about Gaynor Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised at the point of sale. |
Goodwill |
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 |
Land and buildings | - |
Plant and machinery etc | - |
Investment property |
Investment property is included at fair value and any fair value adjustments are recognised in the income statement. |
GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 29 February 2024 |
Disposals | ( |
) |
At 28 February 2025 |
AMORTISATION |
At 29 February 2024 |
Eliminated on disposal | ( |
) |
At 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 28 February 2024 |
GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 29 February 2024 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 28 February 2025 |
DEPRECIATION |
At 29 February 2024 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 28 February 2024 |
Included in the net book value of plant and machinery are assets held under hire purchase contracts or finance leases with a carrying value of £nil (2024 - £64,078). |
Fixed asset investments, being 100% of the issued share capital of its 2 subsidiary companies, have no material cost or value as they have both been dormant since incorporation. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 29 February 2024 |
Revaluations | (50,000 | ) |
At 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 28 February 2024 |
Due to the impact of indexation and associated disposal costs, should the investment properties be sold for their revalued amounts, this would not result in a capital gain and so no deferred tax provision has been included in these accounts relating to the fair value surplus. |
GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 28 February 2025 is represented by: |
£ |
Valuation in 2006 | 34,129 |
Valuation in 2021 | 155,000 |
Valuation in 2025 | (50,000 | ) |
Cost | 210,871 |
350,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
2025 | 2024 |
£ | £ |
Cost | 210,871 | 210,871 |
Investment properties were valued on an open market basis on 20 February 2025 by DLP Chartered Surveyors . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Trade debtors |
Sundry and other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2025 | 2024 |
£ | £ |
Bank loans |
Hire purchase contracts |
GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2025 | 2024 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | - | 61,231 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2025 | 2024 |
£ | £ |
Bank overdraft |
Bank loans |
Hire purchase contracts | - | 18,963 |
The bank overdraft and loans were secured by debenture with a fixed and floating charge against the assets of the company. |
The hire-purchase creditors were secured against the related specific tangible fixed assets |
11. | RESERVES |
Revaluation | Fair value |
reserve | reserve | Totals |
£ | £ | £ |
At 29 February 2024 | 189,129 |
Investment property fair value |
revaluation in year | - | (50,000 | ) | (50,000 | ) |
Revalued assets retained |
earnings depreciation transfer | (4,166 | ) | - | (4,166 | ) |
Retained earnings transfer |
on sale of revalued assets | (321,705 | ) | - | (321,705 | ) |
At 28 February 2025 |
GAYNOR GROUP LIMITED (REGISTERED NUMBER: 03488945) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 28 February 2025 and 28 February 2024: |
2025 | 2024 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |