Gordon H Richards Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04112331

Gordon H Richards Limited

Filleted Unaudited Financial Statements

31 December 2024

Gordon H Richards Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Gordon H Richards Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5	129,043	148,954
Investments	6	1,300	1,300
		---------	---------
		130,343	150,254

Current assets

Stocks		819,689	814,342
Debtors	7	336,152	194,604
Cash at bank and in hand		80,085	97,057
		------------	------------
		1,235,926	1,106,003

Creditors: amounts falling due within one year	8	353,676		385,970
		------------		------------
Net current assets			882,250		720,033
			------------		---------
Total assets less current liabilities			1,012,593		870,287

Creditors: amounts falling due after more than one year	9		24,167		44,167

Provisions

Taxation including deferred tax	32,261	34,148
	------------	---------
Net assets	956,165	791,972
	------------	---------

Capital and reserves

Called up share capital	10	100	100
Profit and loss account		956,065	791,872
		---------	---------
Shareholders funds		956,165	791,972
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

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

Gordon H Richards Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 12 September 2025 , and are signed on behalf of the board by:

M Curry	R M Curry
Director	Director

Company registration number: 04112331

Gordon H Richards Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the 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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	10% straight line
Motor vehicles	-	25% reducing balance
Office equipment	-	33 % straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2023: 8 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	32,345	12,625	202,450	12,247	259,667
Additions	19,900	–	–	950	20,850
Disposals	( 13,750)	–	–	–	( 13,750)
	--------	--------	---------	--------	---------
At 31 December 2024	38,495	12,625	202,450	13,197	266,767
	--------	--------	---------	--------	---------
Depreciation
At 1 January 2024	30,114	263	78,149	2,187	110,713
Charge for the year	2,873	1,262	31,075	4,346	39,556
Disposals	( 12,545)	–	–	–	( 12,545)
	--------	--------	---------	--------	---------
At 31 December 2024	20,442	1,525	109,224	6,533	137,724
	--------	--------	---------	--------	---------
Carrying amount
At 31 December 2024	18,053	11,100	93,226	6,664	129,043
	--------	--------	---------	--------	---------
At 31 December 2023	2,231	12,362	124,301	10,060	148,954
	--------	--------	---------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 December 2024	87,135
	--------
At 31 December 2023	116,180
	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 January 2024 and 31 December 2024	1,300
	-------
Impairment
At 1 January 2024 and 31 December 2024	–
	-------

Carrying amount
At 31 December 2024	1,300
	-------
At 31 December 2023	1,300
	-------

7. Debtors

	2024	2023
	£	£
Trade debtors	165,723	192,494
Amounts owed by group undertakings	168,107	–
Prepayments and accrued income	2,322	2,110
	---------	---------
	336,152	194,604
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	206,089	167,452
Amounts owed to group undertakings	–	89,192
Accruals and deferred income	3,150	2,995
Corporation tax	60,976	54,296
Social security and other taxes	58,613	39,776
Obligations under finance leases and hire purchase contracts	20,000	20,000
Director loan accounts	1,092	1,001
Other creditors	3,756	11,258
	---------	---------
	353,676	385,970
	---------	---------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Obligations under finance leases and hire purchase contracts	24,167	44,167
	--------	--------

The bank loan is secured by legal charge over certain assets of the company.

10. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

11. Related party transactions

At the year end the company owed R M Curry £1,092 (2023: £1,001) which is shown amongst creditors. The company is a wholly owned subsidiary of Stoneleaf Building Materials Limited and has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with Stoneleaf Building Materials Limited or any other companies within the group.

12. Controlling party

The ultimate parent company is Stoneleaf Building Materials Limited, a company registered in England and Wales at the registered office, 146 New London Road, Chelmsford, Essex, CM2 0AW. The ultimate controlling party is R M Curry by virtue of his shareholding in the ultimate parent undertaking.