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Company No: 04735011 (England and Wales)

# GKS OF IVYBRIDGE LIMITED

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

GKS OF IVYBRIDGE LIMITED

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

GKS OF IVYBRIDGE LIMITED

## BALANCE SHEET

As at 30 April 2025
GKS OF IVYBRIDGE LIMITED

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 18,693 |  | 14,235
|  | 18,693 |  | 14,235
Current assets |  |  |  |
Stocks |  | 1,067,428 |  | 929,120
Debtors | 5 | 57,532 |  | 38,477
Investments | 6 | 51 |  | 51
Cash at bank and in hand |  | 439,747 |  | 466,081
|  | 1,564,758 |  | 1,433,729
Creditors: amounts falling due within one year | 7 | ( 379,320) |  | ( 354,919)
Net current assets |  | 1,185,438 |  | 1,078,810
Total assets less current liabilities |  | 1,204,131 |  | 1,093,045
Provision for liabilities |  | 432 |  | 44
Net assets |  | 1,204,563 |  | 1,093,089
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Profit and loss account |  | 1,204,463 |  | 1,092,989
Total shareholders' funds |  | 1,204,563 |  | 1,093,089

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of GKS of Ivybridge Limited (registered number: 04735011) were approved and authorised for issue by the Board of Directors on 21 January 2026. They were signed on its behalf by:

Mr E J Staddon Director |

GKS OF IVYBRIDGE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
GKS OF IVYBRIDGE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

GKS of Ivybridge Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

##### Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 15 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings | 10 years straight line
Plant and machinery | 25 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 16 |  | 15

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 May 2024 | 30,000 |  | 30,000
At 30 April 2025 | 30,000 |  | 30,000
Accumulated amortisation |  |  |
At 01 May 2024 | 30,000 |  | 30,000
At 30 April 2025 | 30,000 |  | 30,000
Net book value |  |  |
At 30 April 2025 | 0 |  | 0
At 30 April 2024 | 0 |  | 0

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 May 2024 | 0 |  | 27,080 |  | 5,550 |  | 38,101 |  | 70,731
Additions | 6,577 |  | 2,039 |  | 0 |  | 0 |  | 8,616
At 30 April 2025 | 6,577 |  | 29,119 |  | 5,550 |  | 38,101 |  | 79,347
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 May 2024 | 0 |  | 22,975 |  | 5,451 |  | 28,070 |  | 56,496
Charge for the financial year | 292 |  | 1,333 |  | 25 |  | 2,508 |  | 4,158
At 30 April 2025 | 292 |  | 24,308 |  | 5,476 |  | 30,578 |  | 60,654
Net book value |  |  |  |  |  |  |  |  |
At 30 April 2025 | 6,285 |  | 4,811 |  | 74 |  | 7,523 |  | 18,693
At 30 April 2024 | 0 |  | 4,105 |  | 99 |  | 10,031 |  | 14,235

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 32,767 |  | 13,905
Amounts owed by Group undertakings | 11,345 |  | 11,826
Amounts owed by connected companies | 6,500 |  | 0
Other debtors | 6,920 |  | 12,746
| 57,532 |  | 38,477

#### 6. Current asset investments

| 2025 |  | 2024
| £ |  | £
Subsidiaries | 51 |  | 51

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 127,415 |  | 73,564
Taxation and social security | 97,579 |  | 142,647
Other creditors | 154,326 |  | 138,708
| 379,320 |  | 354,919

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
51 Ordinary shares of £ 1.00 each | 51 |  | 51
49 Ordinary A shares of £ 1.00 each | 49 |  | 49
| 100 |  | 100

#### 9. Financial commitments

Commitments

The total amount of financial commitments not included in the balance sheet is £nil (2024 - £7,000).