REGISTERED NUMBER: 01570419 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Gap-Display Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr B Mawby

Mr G Mawby

REGISTERED OFFICE:

The Retreat

406 Roding Lane South

Woodford Green

Essex

IG8 8EY

REGISTERED NUMBER:

01570419 (England and Wales)

ACCOUNTANTS:

Nordens

The Retreat

406 Roding Lane South

Woodford Green

Essex

IG8 8EY

FIXED ASSETS

Property, plant and equipment

4

501,682

493,189

CURRENT ASSETS

Inventories

123,700

126,100

Debtors

5

92,168

51,556

Cash at bank and in hand

247,601

277,342

463,469

454,998

CREDITORS

Amounts falling due within one year

6

187,262

193,237

NET CURRENT ASSETS

276,207

261,761

TOTAL ASSETS LESS CURRENT LIABILITIES

777,889

754,950

CREDITORS

Amounts falling due after more than one year

7

15,331

26,925

NET ASSETS

762,558

728,025

CAPITAL AND RESERVES

Called up share capital

101

101

Revaluation reserve

250,588

250,588

Retained earnings

511,869

477,336

SHAREHOLDERS' FUNDS

762,558

728,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

Mr B Mawby - Director

Mr G Mawby - Director

1.	STATUTORY INFORMATION

Gap-Display Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

450,000

286,378

10,279

Additions

-

7,335

-

Disposals

-

-

-

At 31 December 2024

450,000

293,713

10,279

DEPRECIATION

At 1 January 2024

-

246,286

10,247

Charge for year

-

7,541

5

Eliminated on disposal

-

-

-

At 31 December 2024

-

253,827

10,252

NET BOOK VALUE

At 31 December 2024

450,000

39,886

27

At 31 December 2023

450,000

40,092

32

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

26,400

-

773,057

Additions

14,600

1,093

23,028

Disposals

(26,400

)

-

(26,400

)

At 31 December 2024

14,600

1,093

769,685

DEPRECIATION

At 1 January 2024

23,335

-

279,868

Charge for year

3,650

274

11,470

Eliminated on disposal

(23,335

)

-

(23,335

)

At 31 December 2024

3,650

274

268,003

NET BOOK VALUE

At 31 December 2024

10,950

819

501,682

At 31 December 2023

3,065

-

493,189

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST

At 1 January 2024

9,000

Disposals

(9,000

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

8,620

Eliminated on disposal

(8,620

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

380

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

80,258

50,848

Other debtors

11,910

708

92,168

51,556

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

12,895

12,764

Trade creditors

147,250

140,554

Taxation and social security

26,022

39,095

Other creditors

1,095

824

187,262

193,237

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

15,331

26,925

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdrafts

112

987

Bank loans

28,114

38,702

28,226

39,689

The Bank have a standard Debenture over all the freehold properties owned by the company.

9.	RELATED PARTY DISCLOSURES

The Directors Mr. G Mawby and Mr. B Mawby are considered to be the key management personnel.