REGISTERED NUMBER: 00449862 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

W.B. GATWARD & SON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs C M Mccrossin

REGISTERED OFFICE:

20 Market Place

Hitchin

Herts

SG5 1DU

REGISTERED NUMBER:

00449862 (England and Wales)

ACCOUNTANTS:

Bradshaw Johnson

Chartered Accountants

Croft Chambers

11 Bancroft

Hitchin

Hertfordshire

SG5 1JQ

FIXED ASSETS

Tangible assets

4

75,428

6,045

Investments

5

1

1

75,429

6,046

CURRENT ASSETS

Stocks

500,740

680,000

Debtors

6

143,196

21,366

Cash at bank and in hand

219

180,365

644,155

881,731

CREDITORS

Amounts falling due within one year

7

331,269

210,477

NET CURRENT ASSETS

312,886

671,254

TOTAL ASSETS LESS CURRENT LIABILITIES

388,315

677,300

CREDITORS

Amounts falling due after more than one year

8

(174,677

)

(178,333

)

PROVISIONS FOR LIABILITIES

-

(1,511

)

NET ASSETS

213,638

497,456

CAPITAL AND RESERVES

Called up share capital

272,730

272,730

Retained earnings

(59,092

)

224,726

213,638

497,456

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 director acknowledges her 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 16 September 2025 and were signed by:

Mrs C M Mccrossin - Director

1.	STATUTORY INFORMATION

W.B. Gatward & Son 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

3,626

146,742

-

150,368

Additions

9,372

7,660

75,005

92,037

At 31 March 2025

12,998

154,402

75,005

242,405

DEPRECIATION

At 1 April 2024

3,626

140,697

-

144,323

Charge for year

469

3,436

18,749

22,654

At 31 March 2025

4,095

144,133

18,749

166,977

NET BOOK VALUE

At 31 March 2025

8,903

10,269

56,256

75,428

At 31 March 2024

-

6,045

-

6,045

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

15,564

13,714

Other debtors

127,632

7,652

143,196

21,366

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

126,916

44,554

Hire purchase contracts

12,098

-

Trade creditors

137,571

82,187

Taxation and social security

33,699

35,377

Other creditors

20,985

48,359

331,269

210,477

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

109,654

178,333

Hire purchase contracts

65,023

-

174,677

178,333

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

150,000

9.	CONTINGENT LIABILITIES

At 31 March 2025, there were no known contingent liabilities for which provision has not been made in the financial statements. The company has guaranteed up to a maximum of £10,000 plus accrued interest and commission in respect of the borrowing facilities of Houlden Jewellers Limited, a co-operative of which the company is a member.

10.	ULTIMATE CONTROLLING PARTY

There is no controlling party.