Company registration number 05485533 (England and Wales)
GILLS PUDDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
GILLS PUDDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GILLS PUDDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
235,499
260,789
Current assets
Stocks
140,000
140,000
Debtors
4
266,652
252,858
Cash at bank and in hand
491,612
280,481
898,264
673,339
Creditors: amounts falling due within one year
5
(383,747)
(316,881)
Net current assets
514,517
356,458
Total assets less current liabilities
750,016
617,247
Creditors: amounts falling due after more than one year
6
(9,441)
(27,419)
Provisions for liabilities
(44,051)
(50,373)
Net assets
696,524
539,455
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
696,424
539,355
Total equity
696,524
539,455
GILLS PUDDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
Mr K S Smith
Director
Company registration number 05485533 (England and Wales)
GILLS PUDDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Gills Puddings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 207 Shrewsbury Road, Market Drayton, Shropshire, TF9 3EW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
not depreciated
Plant and equipment
20% reducing balance
Computers
33% straight line
Motor vehicles
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GILLS PUDDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Pension costs and other reitrement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
53
52
GILLS PUDDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
59,298
407,194
21,230
161,325
649,047
Additions
-
0
6,350
-
0
10,250
16,600
At 31 March 2025
59,298
413,544
21,230
171,575
665,647
Depreciation and impairment
At 1 April 2024
-
0
281,971
20,978
85,309
388,258
Depreciation charged in the year
-
0
25,891
112
15,887
41,890
At 31 March 2025
-
0
307,862
21,090
101,196
430,148
Carrying amount
At 31 March 2025
59,298
105,682
140
70,379
235,499
At 31 March 2024
59,298
125,223
252
76,016
260,789
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
249,596
235,342
Other debtors
17,056
17,516
266,652
252,858
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Trade creditors
130,442
154,630
Taxation and social security
108,481
58,065
Other creditors
134,824
94,186
383,747
316,881
GILLS PUDDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,305
12,336
Other creditors
7,136
15,083
9,441
27,419
7
Directors' transactions
Loans
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Mr K S Smith -
-
-
7,199
7,199
-
7,199
7,199
GILLS PUDDINGS LIMITED
DETAILED BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 7 -
2025
2024
£
£
£
£
Fixed assets
Tangible assets
235,499
260,789
Current assets
Stocks
140,000
140,000
Debtors
264,539
248,484
Prepayments and accrued income
2,113
4,374
Cash at bank and in hand
491,612
280,481
898,264
673,339
Creditors: amounts falling due within one year
Loans and overdrafts
10,000
10,000
Obligations under finance leases
7,948
7,276
Taxation and social security
108,481
58,065
Other creditors
245,927
234,597
Accruals and deferred income
11,391
6,943
383,747
316,881
Net current assets
514,517
356,458
Total assets less current liabilities
750,016
617,247
Creditors: amounts falling due after more than one year
Loans and overdrafts
2,305
12,336
Obligations under finance leases
7,136
15,083
(9,441)
(27,419)
Provisions for liabilities
Deferred tax liability
44,051
50,373
(44,051)
(50,373)
Net assets
696,524
539,455
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
696,424
539,355
Total equity
696,524
539,455
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