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REGISTERED NUMBER: 07569912 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

GORAL AND SON LTD

GORAL AND SON LTD (REGISTERED NUMBER: 07569912)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GORAL AND SON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: D Goral
B J Goral





REGISTERED OFFICE: 35 Spital Hill
Sheffield
S4 7LD





REGISTERED NUMBER: 07569912 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

GORAL AND SON LTD (REGISTERED NUMBER: 07569912)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,990 3,380
Tangible assets 5 326,659 274,862
329,649 278,242

CURRENT ASSETS
Stocks 353,035 363,501
Debtors 6 565,059 441,407
Cash at bank and in hand 120,130 72,982
1,038,224 877,890
CREDITORS
Amounts falling due within one year 7 1,044,541 705,095
NET CURRENT (LIABILITIES)/ASSETS (6,317 ) 172,795
TOTAL ASSETS LESS CURRENT
LIABILITIES

323,332

451,037

CREDITORS
Amounts falling due after more than one
year

8

(141,702

)

(172,974

)

PROVISIONS FOR LIABILITIES (63,701 ) (56,262 )
NET ASSETS 117,929 221,801

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 117,829 221,701
117,929 221,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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.

GORAL AND SON LTD (REGISTERED NUMBER: 07569912)

BALANCE SHEET - continued
31 AUGUST 2024


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 Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by:





D Goral - Director


GORAL AND SON LTD (REGISTERED NUMBER: 07569912)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Goral and Son 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Straight line over 3 years
Plant and machinery - 20% on cost and 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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


GORAL AND SON LTD (REGISTERED NUMBER: 07569912)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 31 (2023 - 27 ) .

GORAL AND SON LTD (REGISTERED NUMBER: 07569912)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 September 2023
and 31 August 2024 3,900
AMORTISATION
At 1 September 2023 520
Amortisation for year 390
At 31 August 2024 910
NET BOOK VALUE
At 31 August 2024 2,990
At 31 August 2023 3,380

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 September 2023 - 454,464 4,226
Additions 27,306 113,705 1,390
At 31 August 2024 27,306 568,169 5,616
DEPRECIATION
At 1 September 2023 - 282,378 1,603
Charge for year 2,275 69,169 411
At 31 August 2024 2,275 351,547 2,014
NET BOOK VALUE
At 31 August 2024 25,031 216,622 3,602
At 31 August 2023 - 172,086 2,623

GORAL AND SON LTD (REGISTERED NUMBER: 07569912)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 52,995 142,632 654,317
Additions - 832 143,233
At 31 August 2024 52,995 143,464 797,550
DEPRECIATION
At 1 September 2023 7,728 87,746 379,455
Charge for year 11,317 8,264 91,436
At 31 August 2024 19,045 96,010 470,891
NET BOOK VALUE
At 31 August 2024 33,950 47,454 326,659
At 31 August 2023 45,267 54,886 274,862

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023 146,000 52,995 198,995
Additions 86,025 - 86,025
At 31 August 2024 232,025 52,995 285,020
DEPRECIATION
At 1 September 2023 53,454 7,728 61,182
Charge for year 40,670 11,317 51,987
At 31 August 2024 94,124 19,045 113,169
NET BOOK VALUE
At 31 August 2024 137,901 33,950 171,851
At 31 August 2023 92,546 45,267 137,813

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 400,668 364,074
Amounts owed by group undertakings 153,138 58,991
Other debtors 11,253 18,342
565,059 441,407

GORAL AND SON LTD (REGISTERED NUMBER: 07569912)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 107,694 26,306
Hire purchase contracts (see note 9) 55,924 38,904
Trade creditors 233,648 278,844
Taxation and social security 338,316 281,203
Other creditors 308,959 79,838
1,044,541 705,095

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 21,774
Hire purchase contracts (see note 9) 103,516 91,049
Other creditors 38,186 60,151
141,702 172,974

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 55,924 38,904
Between one and five years 103,516 91,049
159,440 129,953

Non-cancellable operating leases
2024 2023
£    £   
Within one year 16,678 -
Between one and five years 22,833 -
39,511 -

GORAL AND SON LTD (REGISTERED NUMBER: 07569912)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 21,774 47,686
Hire purchase contracts 159,440 129,953
181,214 177,639