Registered number
08372480
George-Stone Gardens Limited
Filleted Accounts
30 November 2024
George-Stone Gardens Limited
Company Information
Directors
I R Stone
Mrs K Stone
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
14/15 Montpellier Arcade
Cheltenham
Glos
Registered number
08372480
George-Stone Gardens Limited
Registered number: 08372480
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 51,178 30,085
Current assets
Stocks 36,118 102,003
Debtors 4 21,769 35,699
Cash at bank and in hand 142,972 32,942
200,859 170,644
Creditors: amounts falling due within one year 5 (88,067) (102,948)
Net current assets 112,792 67,696
Total assets less current liabilities 163,970 97,781
Creditors: amounts falling due after more than one year 6 (22,600) (236)
Net assets 141,370 97,545
Capital and reserves
Called up share capital 4 4
Profit and loss account 141,366 97,541
Shareholders' funds 141,370 97,545
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.
I R Stone
Director
Approved by the board on 31 May 2025
George-Stone Gardens Limited
Notes to the Accounts
for the year ended 30 November 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:
Office equipment 25% reducing balance
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 17 17
3 Tangible fixed assets
Office equipment Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 10,232 29,480 50,384 90,096
Additions 5,368 32,519 - 37,887
Disposals (5,619) (17,500) (14,495) (37,614)
At 30 November 2024 9,981 44,499 35,889 90,369
Depreciation
At 1 December 2023 7,028 19,134 33,849 60,011
Charge for the year 1,955 4,229 3,105 9,289
On disposals (4,868) (14,862) (10,379) (30,109)
At 30 November 2024 4,115 8,501 26,575 39,191
Net book value
At 30 November 2024 5,866 35,998 9,314 51,178
At 30 November 2023 3,204 10,346 16,535 30,085
4 Debtors 2024 2023
£ £
Trade debtors 11,095 33,477
Other debtors 10,674 2,222
21,769 35,699
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 22,272 38,735
Taxation and social security costs 48,683 25,927
Other creditors 17,112 38,286
88,067 102,948
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 22,536 -
Directors loan 64 236
22,600 236
7 Controlling party
The company is controlled by the directors.
8 Other information
George-Stone Gardens Limited is a private company limited by shares and incorporated in England. Its registered office is:
14/15 Montpellier Arcade
Cheltenham
Glos
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