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Registration number: 08474726

The Gas Centre and BBQ Shop Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

The Gas Centre and BBQ Shop Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

The Gas Centre and BBQ Shop Limited

Company Information

Directors

M C Coverley

M Gough

Registered office

145 High Street
Old Woking
Woking
Surrey
GU22 9JW

Accountants

Shaw Gibbs Limited Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

The Gas Centre and BBQ Shop Limited

(Registration number: 08474726)
Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Non-current assets

 

Property, plant and equipment

4

378,705

251,444

Current assets

 

Inventories

5

539,308

586,825

Receivables

6

454,267

500,193

Cash at bank and in hand

 

108,156

194,773

 

1,101,731

1,281,791

Payables: Amounts falling due within one year

7

(1,049,779)

(814,093)

Net current assets

 

51,952

467,698

Total assets less current liabilities

 

430,657

719,142

Payables: Amounts falling due after more than one year

7

(63,101)

(73,545)

Provisions for liabilities

(3,992)

(36,253)

Net assets

 

363,564

609,344

Equity

 

Called up share capital

10

100

100

Retained earnings

363,464

609,244

Shareholders' funds

 

363,564

609,344

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

The financial statements of The Gas Centre and BBQ Shop Limited were approved and authorised for issue by the Board on 27 August 2025 and signed on its behalf by:

 

The Gas Centre and BBQ Shop Limited

(Registration number: 08474726)
Statement of Financial Position as at 30 September 2024 (continued)

.........................................

M Gough
Director

 

The Gas Centre and BBQ Shop Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024

1

General information

The Gas Centre and BBQ Shop Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The Gas Centre and BBQ Shop Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% on cost

Plant and machinery

25-50% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Receivables

Receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

The Gas Centre and BBQ Shop Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, inventories are assessed for impairment. If inventories are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.

Lease payments are apportioned between finance costs in the Income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

The Gas Centre and BBQ Shop Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 18).

 

The Gas Centre and BBQ Shop Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

4

Property, plant and equipment

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
£

Cost or valuation

At 1 October 2023

44,006

136,743

219,194

89,238

Additions

166,329

7,318

79,540

-

Disposals

-

-

(94,889)

-

At 30 September 2024

210,335

144,061

203,845

89,238

Depreciation

At 1 October 2023

2,200

134,062

92,567

8,908

Charge for the year

21,034

4,071

39,330

17,848

Eliminated on disposal

-

-

(51,246)

-

At 30 September 2024

23,234

138,133

80,651

26,756

Carrying amount

At 30 September 2024

187,101

5,928

123,194

62,482

At 30 September 2023

41,806

2,681

126,627

80,330

 

The Gas Centre and BBQ Shop Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

4

Property, plant and equipment (continued)

Total
£

Cost or valuation

At 1 October 2023

489,181

Additions

253,187

Disposals

(94,889)

At 30 September 2024

647,479

Depreciation

At 1 October 2023

237,737

Charge for the year

82,283

Eliminated on disposal

(51,246)

At 30 September 2024

268,774

Carrying amount

At 30 September 2024

378,705

At 30 September 2023

251,444

Included within the net book value of land and buildings above is £187,101 (2023 - £41,806) in respect of short leasehold land and buildings.
 

5

Inventories

2024
£

2023
£

Other inventories

539,308

586,825

6

Receivables

2024
£

2023
£

Trade receivables

74,388

58,238

Other receivables

354,636

418,803

Prepayments

25,243

23,152

454,267

500,193

 

The Gas Centre and BBQ Shop Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

7

Creditors

Payables: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

293,833

52,881

Trade payables

 

702,427

654,975

Social security and other taxes

 

27,238

55,857

Other payables

 

22,781

43,737

Accruals

 

3,500

6,643

 

1,049,779

814,093

Due after one year

 

Loans and borrowings

9

63,101

73,545

Payables: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

63,101

73,545

8

Provisions for liabilities

Deferred tax
£

Total
£

At 1 October 2023

36,253

36,253

Increase (decrease) in existing provisions

(32,261)

(32,261)

At 30 September 2024

3,992

3,992

 

The Gas Centre and BBQ Shop Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,610

18,567

Hire purchase contracts

55,491

54,978

63,101

73,545

Current loans and borrowings

2024
£

2023
£

Bank borrowings

237,475

10,800

Hire purchase contracts

24,295

18,246

Other borrowings

32,063

23,835

293,833

52,881

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100