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Gareth R Guck Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Ian Roper & Company Ltd
Chartered Accountants
37 Fore Street
Sidmouth
Devon
EX10 8AQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09357004
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,396 28,619
21,396 28,619
CURRENT ASSETS
Debtors 5 914 462
Cash at bank and in hand 65,788 87,279
66,702 87,741
Creditors: Amounts Falling Due Within One Year 6 (35,489 ) (38,298 )
NET CURRENT ASSETS (LIABILITIES) 31,213 49,443
TOTAL ASSETS LESS CURRENT LIABILITIES 52,609 78,062
Creditors: Amounts Falling Due After More Than One Year 7 (8,261 ) (13,479 )
NET ASSETS 44,348 64,583
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 44,248 64,483
SHAREHOLDERS' FUNDS 44,348 64,583
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Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gareth Guck
Director
19th September 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gareth R Guck Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09357004 . The registered office is 19 Lower Brook Meadow, Sidford, Devon, EX10 9PS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 25%
Computer Equipment 33.3%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 16,894 52,027 878 5,999 75,798
As at 31 December 2024 16,894 52,027 878 5,999 75,798
Depreciation
As at 1 January 2024 9,883 31,545 562 5,189 47,179
Provided during the period 1,753 5,121 79 270 7,223
As at 31 December 2024 11,636 36,666 641 5,459 54,402
Net Book Value
As at 31 December 2024 5,258 15,361 237 540 21,396
As at 1 January 2024 7,011 20,482 316 810 28,619
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 914 462
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,218 5,218
Trade creditors - (1 )
Corporation tax 20,624 24,951
Other taxes and social security 420 600
VAT 5,401 5,378
Accruals and deferred income 2,910 1,230
Director's loan account 916 922
35,489 38,298
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,261 13,479
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,218 5,218
Later than one year and not later than five years 8,261 13,479
13,479 18,697
13,479 18,697
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
75 Ordinary A shares of £ 1 each 75 75
25 Ordinary B shares of £ 1 each 25 25
100 100
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