Garrett Appliances Limited - Filleted accounts

Registered number

08585642

Garrett Appliances Limited

Unaudited Filleted Accounts

31 December 2024

Garrett Appliances Limited
Registered number:		08585642
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		67,157			78,065
Investments	4		1			1
			67,158			78,066

Current assets
Stocks		49,241			45,670
Debtors	5	103,107			85,830
Cash at bank and in hand		65,737			55,428
		218,085			186,928

Creditors: amounts falling due within one year	6	(186,692)			(158,546)

Net current assets			31,393			28,382

Total assets less current liabilities			98,551			106,448


Provisions for liabilities			(16,789)			(14,832)


Net assets			81,762			91,616

Capital and reserves
Called up share capital			100			100
Profit and loss account			81,662			91,516

Shareholder's funds			81,762			91,616

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.




M Garrett
Director
Approved by the board on 19 June 2025

Garrett Appliances Limited
Notes to the Accounts
for the year ended 31 December 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:

	Computer equipment			33% straight line
	Motor vehicle			25% reducing balance
	Fixtures & fittings			15% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	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.

	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					7		7


3	Tangible fixed assets
		Computer equipment		Fixtures & fittings		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	11,962		44,653		80,730		137,345
	Additions	1,366		5,830		-		7,196
	At 31 December 2024	13,328		50,483		80,730		144,541

	Depreciation
	At 1 January 2024	10,753		15,456		33,071		59,280
	Charge for the year	1,375		4,814		11,915		18,104
	At 31 December 2024	12,128		20,270		44,986		77,384

	Net book value
	At 31 December 2024	1,200		30,213		35,744		67,157
	At 31 December 2023	1,209		29,197		47,659		78,065


4	Investments

Other
investments
£
	Cost
	At 1 January 2024							1

	At 31 December 2024							1


5	Debtors					2024		2023
£							£

	Trade debtors					73,094		48,094
	Other debtors					30,013		37,736
						103,107		85,830


6	Creditors: amounts falling due within one year					2024		2023
£							£

	Trade creditors					131,785		137,941
	Taxation and social security costs					31,186		8,105
	Other creditors					23,721		12,500
						186,692		158,546


7	Other information

	Garrett Appliances Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 2 Io Trade Centre Croydon Road
	Beddington
	Croydon
	England
	CR0 4WQ