2024-04-012025-03-312025-03-31false04381529Gary Ross 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Gary Ross Ltd

Registered Number
04381529
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

Gary Ross Ltd
Company Information
for the year from 1 April 2024 to 31 March 2025

Director

Gary Ross

Company Secretary

Judith Lesley Pragnell

Registered Address

West Thorpe Cottage
Greystoke
Penrith
CA11 0TJ

Registered Number

04381529 (England and Wales)
Gary Ross Ltd
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3191239
191239
Current assets
Stocks53,8363,668
Debtors6-6,750
Cash at bank and on hand14,7479,181
18,58319,599
Creditors amounts falling due within one year7(17,558)(34,942)
Net current assets (liabilities)1,025(15,343)
Total assets less current liabilities1,216(15,104)
Net assets1,216(15,104)
Capital and reserves
Called up share capital1,0001,000
Profit and loss account216(16,104)
Shareholders' funds1,216(15,104)
The financial statements were approved and authorised for issue by the Director on 1 August 2025, and are signed on its behalf by:
Gary Ross
Director
Registered Company No. 04381529
Gary Ross Ltd
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Turnover policy
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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Vehicles25
Office Equipment20
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
2.Average number of employees

20252024
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 249,7205001,95312,173
At 31 March 259,7205001,95312,173
Depreciation and impairment
At 01 April 249,4815001,95311,934
Charge for year48--48
At 31 March 259,5295001,95311,982
Net book value
At 31 March 25191--191
At 31 March 24239--239
4.Impairment of tangible fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
5.Stocks

2025

2024

££
Other stocks3,8363,668
Total3,8363,668
6.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables-6,750
Total-6,750
7.Creditors: amounts due within one year

2025

2024

££
Bank borrowings and overdrafts45-
Taxation and social security182-
Other creditors16,52134,132
Accrued liabilities and deferred income810810
Total17,55834,942
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.