REGISTERED NUMBER: 03989900 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2025

for

Gas Appliance Showroom and Fireplace

Centre Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

G Woodward

Secretary:

Mrs S Morris

Registered office:

10 The Southend

Ledbury

Herefordshire

HR8 2EY

Registered number:

03989900 (England and Wales)

Accountants:

Crowthers Chartered Accountants

10 The Southend

Ledbury

Herefordshire

HR8 2EY

FIXED ASSETS

Property, plant and equipment

4

32,928

43,411

CURRENT ASSETS

Inventories

24,792

25,455

Debtors

5

15,828

11,053

Cash at bank and in hand

21,899

160

62,519

36,668

CREDITORS

Amounts falling due within one year

6

86,125

63,143

NET CURRENT LIABILITIES

(23,606

)

(26,475

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,322

16,936

CREDITORS

Amounts falling due after more than one year

7

(1,333

)

(5,333

)

PROVISIONS FOR LIABILITIES

(6,256

)

(8,248

)

NET ASSETS

1,733

3,355

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

1,533

3,155

SHAREHOLDERS' FUNDS

1,733

3,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21 October 2025 and were signed by:

G Woodward - Director

1.	STATUTORY INFORMATION

Gas Appliance Showroom and Fireplace Centre 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.

The functional currency of Gas Appliance Showroom and Fireplace Centre Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Therefore actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Within the company, the area where significant judgements and estimates are made by the directors is in the stock valuation. Stock of materials is valued at the most recent supplier cost but is reviewed on an ongoing basis. At the year-end, the directors have no concerns over the recoverability of the company's stock balance as shown on The Statement of Financial Position.

Turnover

Turnover represents the value of goods sold during the period, net of VAT and trade discounts. Turnover is recognised when goods are physically delivered to the customer.

Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included in debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods have been delivered.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

Stocks

Stock of goods is valued at the lower of cost and net realisable value.

Cost represents the purchase price of goods plus an apportionment of the relevant costs in transporting the goods to the company's storage locations.

Net realisable value represents the selling price of completed goods less any costs necessary to complete the goods. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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 10 (2024 - 10 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

Cost

At 1 September 2024

and 31 August 2025

106,638

Depreciation

At 1 September 2024

63,227

Charge for year

10,483

At 31 August 2025

73,710

Net book value

At 31 August 2025

32,928

At 31 August 2024

43,411

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

15,828

10,187

Prepayments and accrued income

-

866

15,828

11,053

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

4,000

9,114

Trade creditors

28,595

17,455

Tax

16,484

5,189

Social security and other taxes

31,100

22,871

Other creditors

683

669

Directors' current accounts

493

333

Accrued expenses

4,770

7,512

86,125

63,143

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

1,333

5,333

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

5,114

Bounce back loan

4,000

4,000

4,000

9,114

Amounts falling due between one and two years:

Bounce back loan

1,333

5,333

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

200

Ordinary

£1

200

200

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in creditors is £493 (2024: £333) owed to the director. No interest has been charged on this loan. The loan is repayable on demand and is unsecured.