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REGISTERED NUMBER: 13459775 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

GT LEISURE PARTS LTD

GT LEISURE PARTS LTD (REGISTERED NUMBER: 13459775)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GT LEISURE PARTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: S D Hawkhead





REGISTERED OFFICE: Unit 1D Shortwood Business Park
Shortwood Way
Hoyland
Barnsley
South Yorkshire
S74 9LH





REGISTERED NUMBER: 13459775 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

GT LEISURE PARTS LTD (REGISTERED NUMBER: 13459775)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,461 75,156

CURRENT ASSETS
Stocks 5 75,402 79,750
Debtors 6 920 3,831
Cash at bank 2,850 8,995
79,172 92,576
CREDITORS
Amounts falling due within one year 7 265,351 262,748
NET CURRENT LIABILITIES (186,179 ) (170,172 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(119,718

)

(95,016

)

CREDITORS
Amounts falling due after more than one
year

8

17,806

29,875
NET LIABILITIES (137,524 ) (124,891 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (137,525 ) (124,892 )
SHAREHOLDERS' FUNDS (137,524 ) (124,891 )

GT LEISURE PARTS LTD (REGISTERED NUMBER: 13459775)

BALANCE SHEET - continued
30 JUNE 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 & Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 March 2025 and were signed by:





S D Hawkhead - Director


GT LEISURE PARTS LTD (REGISTERED NUMBER: 13459775)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

GT Leisure Parts Ltd 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.

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.

Though the Balance Sheet at the period end discloses an insolvent position, the director has confirmed his continued support to the company and will not repay loans made to the company by him or an associated concern. It is believed that the company will be able to maintain positive cash flows in the foreseeable future. As a result, they have adopted the going concern basis of accounting.

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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GT LEISURE PARTS LTD (REGISTERED NUMBER: 13459775)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 73,908 6,927 9,461 90,296
Additions 1,197 - - 1,197
At 30 June 2024 75,105 6,927 9,461 91,493
DEPRECIATION
At 1 July 2023 8,015 1,106 6,019 15,140
Charge for year 6,157 581 3,154 9,892
At 30 June 2024 14,172 1,687 9,173 25,032
NET BOOK VALUE
At 30 June 2024 60,933 5,240 288 66,461
At 30 June 2023 65,893 5,821 3,442 75,156

5. STOCKS
2024 2023
£    £   
Stocks 75,402 79,750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 468 -
VAT 275 3,831
Prepayments 177 -
920 3,831

GT LEISURE PARTS LTD (REGISTERED NUMBER: 13459775)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 12,069 10,558
Trade creditors 61,817 67,331
Social security and other taxes 5,948 2,399
Other creditors 120,505 118,081
Directors' current accounts 56,220 58,521
Accrued expenses 8,792 5,858
265,351 262,748

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 17,806 29,875

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 29,875 40,433

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1