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Registered number: 00577208
Gutteridges (Outfitters) Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Base52 Ltd
Contents
Page
Company Information 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—6
Page 1
Company Information
Director Ms O L Gutteridge
Secretary Ms O L Gutteridge
Company Number 00577208
Registered Office Flat 1, 74 Langdon Park Road
Highgate
London
N6 5PY
Accountants Base52 Ltd
ACCA
Suite 9 30 Bancroft
Hitchin
Hertfordshire
SG5 1LE
Page 1
Page 2
Balance Sheet
Registered number: 00577208
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 651,567 651,800
651,567 651,800
CURRENT ASSETS
Cash at bank and in hand 29,416 35,879
29,416 35,879
Creditors: Amounts Falling Due Within One Year 5 (6,164 ) (6,077 )
NET CURRENT ASSETS (LIABILITIES) 23,252 29,802
TOTAL ASSETS LESS CURRENT LIABILITIES 674,819 681,602
PROVISIONS FOR LIABILITIES
Deferred Taxation 6 (44,517 ) (44,517 )
NET ASSETS 630,302 637,085
CAPITAL AND RESERVES
Called up share capital 7 10,000 10,000
Revaluation reserve 8 579,775 579,775
Profit and Loss Account 40,527 47,310
SHAREHOLDERS' FUNDS 630,302 637,085
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Page 3
For the year ending 28 February 2025 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 her 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
Ms O L Gutteridge
Director
06/10/2025
The notes on pages 5 to 6 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Revaluation reserve Profit and Loss Account Total
£ £ £ £
As at 1 March 2023 10,000 528,169 48,339 586,508
Profit for year - - 55,577 55,577
Surplus on revaluation - 51,606 - 51,606
Other comprehensive income for the year - 51,606 - 51,606
Total comprehensive income for the year - 51,606 55,577 107,183
Dividends paid - - (5,000) (5,000)
Transfer from revaluation reserve - - (51,606) (51,606)
As at 29 February 2024 and 1 March 2024 10,000 579,775 47,310 637,085
Loss for the year and total comprehensive income - - (6,783 ) (6,783)
As at 28 February 2025 10,000 579,775 40,527 630,302
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Page 5
Notes to the Financial Statements
1. General Information
Gutteridges (Outfitters) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00577208 . The registered office is Flat 1, 74 Langdon Park Road, Highgate, London, N6 5PY.
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 FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Freehold 0% not depreciated
Fixtures & Fittings 25% reducing balance
Computer Equipment 33.33% Straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Freehold land and buildings with a carrying amount of £650,000 were revalued on an open market basis on 29 February 2024 using advice from local estate agents and the Zoopla property valuation website.
The historical freehold cost of the investment properties was £70,225.
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 years 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.
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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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 (2024: 1)
1 1
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4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 March 2024 650,000 170 2,034 652,204
As at 28 February 2025 650,000 170 2,034 652,204
Depreciation
As at 1 March 2024 - 170 234 404
Provided during the period - - 233 233
As at 28 February 2025 - 170 467 637
Net Book Value
As at 28 February 2025 650,000 - 1,567 651,567
As at 1 March 2024 650,000 - 1,800 651,800
Included in cost or valuation of land and buildings is freehold property of £650,000 (2024 - £650,000) which is not depreciated.
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other taxes and social security 39 -
Accruals and deferred income 1,008 960
Director's loan account 5,117 5,117
6,164 6,077
6. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Other timing differences 44,517 44,517
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10,000 10,000
8. Reserves
Revaluation Reserve
£
As at 1 March 2024 579,775
As at 28 February 2025 579,775
Page 6