REGISTERED NUMBER: 05169062 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Gardiff Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S B Egan

C S Harris

REGISTERED OFFICE:

Unit 10 The Cam Centre

Wilbury Way

Hitchin

Hertfordshire

SG4 0TW

REGISTERED NUMBER:

05169062 (England and Wales)

ACCOUNTANTS:

Braceys Accountants Limited

Unit 1 The Cam Centre

Wilbury Way

Hitchin

Hertfordshire

SG4 0TW

FIXED ASSETS

Tangible assets

4

275,672

278,469

CURRENT ASSETS

Stocks

5

238,443

279,915

Debtors

6

687,941

1,082,297

Cash and cash equivalents

707,771

492,217

1,634,155

1,854,429

CREDITORS

Amounts falling due within one year

7

157,174

187,207

NET CURRENT ASSETS

1,476,981

1,667,222

TOTAL ASSETS LESS CURRENT LIABILITIES

1,752,653

1,945,691

CREDITORS

Amounts falling due after more than one year

8

(11,667

)

(307,073

)

PROVISIONS FOR LIABILITIES

(62,684

)

(68,683

)

NET ASSETS

1,678,302

1,569,935

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,677,302

1,568,935

1,678,302

1,569,935

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

S B Egan - Director

1.	STATUTORY INFORMATION

Gardiff 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks 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 Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Going concern

The financial statements have been prepared on a going concern basis.

Trade debtors

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

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors 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.

Trade creditors

Trade creditors 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.

Trade creditors are recognised at the transaction price.

Defined contribution pension obligation

Trade creditors 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

17,487

9,661

177,440

367,240

571,828

Additions

-

1,113

24,844

91,146

117,103

At 31 December 2024

17,487

10,774

202,284

458,386

688,931

DEPRECIATION

At 1 January 2024

13,161

9,150

84,186

186,862

293,359

Charge for year

3,739

357

43,796

72,008

119,900

At 31 December 2024

16,900

9,507

127,982

258,870

413,259

NET BOOK VALUE

At 31 December 2024

587

1,267

74,302

199,516

275,672

At 31 December 2023

4,326

511

93,254

180,378

278,469

5.

STOCKS

2024

2023

£

£

Raw materials

238,443

279,915

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

302,738

428,342

Directors' current accounts

276,883

565,733

Tax

91,372

87,726

Prepayments

14,253

496

685,246

1,082,297

Amounts falling due after more than one year:

Other debtors

2,695

-

Aggregate amounts

687,941

1,082,297

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 9)

10,000

19,894

Trade creditors

38,446

53,528

Tax

39,869

64,685

Social security and other taxes

11,441

10,810

VAT

50,069

26,842

Other creditors

3,391

4,038

Wages control account

-

150

Pensions unpaid

1,883

5,285

Accrued expenses

2,075

1,975

157,174

187,207

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 9)

11,667

307,073

9.

LOANS

The loan comprises a Bounce Back Loan (BBLS) amount which is managed by the British Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy. The total amount owed is £21,667 (2023: £31,666). There is no security held for this amount.

The other bank loan from last year was repaid in full during the period.

There is a fixed and floating charge held over all assets of the company, dated 15 February 2006, in favour of National Westminster Bank PLC.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

S B Egan

Balance outstanding at start of year

565,734

341,081

Amounts advanced

20,061

267,465

Amounts repaid

(308,912

)

(42,812

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

276,883

565,734

11.	RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £276,883 (2023: £565,733) by Director, S Egan. Interest is being charged at 2.25% per annum.

At the balance sheet date the company owed £2,695 (2023:£Nil) to Gardiff EPOS Limited, a company connected by common control. No interest is being charged on this loan.