REGISTERED NUMBER: 09733930 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

GP Retail t/as Joe Richards Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P R Tate

M D Tate

REGISTERED OFFICE:

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

REGISTERED NUMBER:

09733930 (England and Wales)

ACCOUNTANTS:

Haines Watts Wolverhampton Limited

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

90,734

108,940

90,734

108,940

CURRENT ASSETS

Stocks

61,802

78,197

Debtors

6

1,052,532

1,044,624

Cash at bank and in hand

109,253

145,375

1,223,587

1,268,196

CREDITORS

Amounts falling due within one year

7

1,133,175

801,629

NET CURRENT ASSETS

90,412

466,567

TOTAL ASSETS LESS CURRENT LIABILITIES

181,146

575,507

PROVISIONS FOR LIABILITIES

10,369

14,897

NET ASSETS

170,777

560,610

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

170,677

560,510

SHAREHOLDERS' FUNDS

170,777

560,610

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2025 and were signed on its behalf by:

P R Tate - Director

1.	STATUTORY INFORMATION

GP Retail t/as Joe Richards 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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts.

Turnover from the provision of goods and services is recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

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 each asset over its estimated useful life.

Improvements to property

-

5% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost

Inventories

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

Inventories have been valued at the lower of cost and estimated selling price less costs to sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as the financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2024 - 50 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

104,998

AMORTISATION

At 1 April 2024

and 31 March 2025

104,998

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

70,501

20,666

70,353

50,382

211,902

Additions

-

4,290

-

-

4,290

At 31 March 2025

70,501

24,956

70,353

50,382

216,192

DEPRECIATION

At 1 April 2024

21,150

13,664

31,924

36,224

102,962

Charge for year

3,525

3,027

7,036

8,908

22,496

At 31 March 2025

24,675

16,691

38,960

45,132

125,458

NET BOOK VALUE

At 31 March 2025

45,826

8,265

31,393

5,250

90,734

At 31 March 2024

49,351

7,002

38,429

14,158

108,940

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

5,955

-

Amounts owed by associates

992,523

992,523

Other debtors

54,054

52,101

1,052,532

1,044,624

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

69,601

95,645

Amounts owed to associates

916,756

564,575

Taxation and social security

-

214

Other creditors

146,818

141,195

1,133,175

801,629

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100