Registered number
03581214
Simon Gudgeon Sculpture Limited
Filleted Accounts
31 March 2025
Simon Gudgeon Sculpture Limited
Registered number: 03581214
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,175,157 1,191,535
Current assets
Stocks 53,360 53,360
Debtors 4 199,123 215,665
Cash at bank and in hand 9 9
252,492 269,034
Creditors: amounts falling due within one year 5 (543,470) (426,457)
Net current liabilities (290,978) (157,423)
Total assets less current liabilities 884,179 1,034,112
Creditors: amounts falling due after more than one year 6 (620,941) (685,942)
Provisions for liabilities (12,536) (15,648)
Net assets 250,702 332,522
Capital and reserves
Called up share capital 2 2
Profit and loss account 250,700 332,520
Shareholders' funds 250,702 332,522
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mrs M Gudgeon
Director
Approved by the board on 23 July 2025
Simon Gudgeon Sculpture Limited
Notes to the Accounts
for the year ended 31 March 2025
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:
Freehold property not provided
Fixtures and fittings 25% reducing balance
Motor Vehicles 20% cost
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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Freehold property Fixtures and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 1,110,486 609,045 24,506 1,744,037
Additions - 3,872 - 3,872
At 31 March 2025 1,110,486 612,917 24,506 1,747,909
Depreciation
At 1 April 2024 - 547,601 4,901 552,502
Charge for the year - 16,329 3,921 20,250
At 31 March 2025 - 563,930 8,822 572,752
Net book value
At 31 March 2025 1,110,486 48,987 15,684 1,175,157
At 31 March 2024 1,110,486 61,444 19,605 1,191,535
4 Debtors 2025 2024
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 190,558 197,514
Other debtors 8,565 18,151
199,123 215,665
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 157,434 102,339
Obligations under finance lease and hire purchase contracts 5,498 5,498
Trade creditors 34,283 42,368
Amounts owed to group undertakings and undertakings in which the company has a participating interest 219,656 162,744
Taxation and social security costs 43,297 30,370
Other creditors 83,302 83,138
543,470 426,457
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 599,568 659,071
Obligations under finance lease and hire purchase contracts 21,373 26,871
620,941 685,942
7 Loans 2025 2024
£ £
Creditors include:
Secured bank loans 618,002 644,511
The bank loan of £618,002 (31/3/24 £644,511) is secured against the assets of the company and has a charge registered by Barclays.
8 Related party transactions
As at 31st March 2025 the company was owed £190,559 (31/3/24 £197,514) to companies under common control and owed £219,657 (31/3/24 £162,744) to companies under common control.
9 Other information
Simon Gudgeon Sculpture Limited is a private company limited by shares and incorporated in England. Its registered office is:
Pallington Lakes
Pallington
Dorchester
Dorset
DT2 8QU
Simon Gudgeon Sculpture Limited 03581214 false 2024-04-01 2025-03-31 2025-03-31 VT Final Accounts April 2025 Mrs M Gudgeon No description of principal activity 03581214 2023-04-01 2024-03-31 03581214 core:WithinOneYear 2024-03-31 03581214 core:AfterOneYear 2024-03-31 03581214 core:ShareCapital 2024-03-31 03581214 core:RetainedEarningsAccumulatedLosses 2024-03-31 03581214 2024-04-01 2025-03-31 03581214 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03581214 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 03581214 bus:Director40 2024-04-01 2025-03-31 03581214 1 2024-04-01 2025-03-31 03581214 2 2024-04-01 2025-03-31 03581214 core:LandBuildings 2024-04-01 2025-03-31 03581214 core:PlantMachinery 2024-04-01 2025-03-31 03581214 core:Vehicles 2024-04-01 2025-03-31 03581214 countries:England 2024-04-01 2025-03-31 03581214 bus:FRS102 2024-04-01 2025-03-31 03581214 bus:FilletedAccounts 2024-04-01 2025-03-31 03581214 2025-03-31 03581214 core:WithinOneYear 2025-03-31 03581214 core:AfterOneYear 2025-03-31 03581214 core:ShareCapital 2025-03-31 03581214 core:RetainedEarningsAccumulatedLosses 2025-03-31 03581214 core:LandBuildings 2025-03-31 03581214 core:PlantMachinery 2025-03-31 03581214 core:Vehicles 2025-03-31 03581214 2024-03-31 03581214 core:LandBuildings 2024-03-31 03581214 core:PlantMachinery 2024-03-31 03581214 core:Vehicles 2024-03-31 iso4217:GBP xbrli:pure