COMPANY REGISTRATION NUMBER:
04665934
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Garnsychan Community Trading Limited |
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Filleted Financial Statements |
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Garnsychan Community Trading Limited |
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Statement of Financial Position |
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31 March 2025
Current assets
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Cash at bank and in hand |
75,859 |
|
117,053 |
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|
|
|
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Creditors: amounts falling due within one year |
5 |
75,858 |
|
117,052 |
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-------- |
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--------- |
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Net current assets |
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1 |
1 |
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---- |
---- |
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Total assets less current liabilities |
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1 |
1 |
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---- |
---- |
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Capital and reserves
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Called up share capital |
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1 |
1 |
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---- |
---- |
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Shareholders funds |
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1 |
1 |
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---- |
---- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
17 December 2025
, and are signed on behalf of the board by:
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Pastor J Funnell |
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Director |
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Company registration number:
04665934
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Garnsychan Community Trading Limited |
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Notes to the Financial Statements |
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Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Bridge Street, Newport, NP20 4SF.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2024:
4
).
5.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
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£ |
£ |
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Trade creditors |
(
50) |
(
166) |
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Amount due to parent undertaking |
75,908 |
117,218 |
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-------- |
--------- |
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75,858 |
117,052 |
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-------- |
--------- |
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6.
Summary audit opinion
The auditor's report dated
17 December 2025
was
unqualified
.
The senior statutory auditor was
Mr Jonathan Rhodes BSc BFP FCA
, for and on behalf of
Walter Hunter & Co Limited
.
7.
Related party transactions
The company is a wholly owned subsidiary of Garnsychan Partnership, registered charity number 1147232. At the year end the company owed Garnsychan Partnership £75,908 (2024: £117,218) which includes the Gift Aid payment for the year of £1,373 (2024: £415).