Registered number
05164767
Gold and Pawn Ltd
Filleted Accounts
30 June 2024
Gold and Pawn Ltd
Registered number: 05164767
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Current assets
Stocks 78,103 78,103
Cash at bank and in hand 24,761 8,882
102,864 86,985
Creditors: amounts falling due within one year 5 (23,847) (15,982)
Net current assets 79,017 71,003
Total assets less current liabilities 79,017 71,003
Creditors: amounts falling due after more than one year 6 (56,399) (62,766)
Net assets 22,618 8,237
Capital and reserves
Called up share capital 100 100
Profit and loss account 22,518 8,137
Shareholder's funds 22,618 8,237
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Bell
Director
Approved by the board on 18 March 2025
Gold and Pawn Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 10,312
At 30 June 2024 10,312
Amortisation
At 1 July 2023 10,312
At 30 June 2024 10,312
Net book value
At 30 June 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 14,686
At 30 June 2024 14,686
Depreciation
At 1 July 2023 14,686
At 30 June 2024 14,686
Net book value
At 30 June 2024 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,000 1,000
Taxation and social security costs 20,847 14,982
23,847 15,982
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 56,399 62,766
7 Other information
Gold and Pawn Ltd is a private company limited by shares and incorporated in England. Its registered office is:
24 Quartz Close, Wokingham Berkshire. RG41 3TS
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