REGISTERED NUMBER: 04701051 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

K GATHERCOLE & SON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Claydon

C Gathercole

Mrs J Claydon

Mrs C L Gathercole

REGISTERED OFFICE:

Unit 2b Cligga Head Ind Est

St. Georges Hill

Perranporth

Cornwall

TR6 0EB

REGISTERED NUMBER:

04701051 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

437,059

400,645

437,059

400,645

CURRENT ASSETS

Stocks

2,500

2,500

Debtors

6

127,137

113,532

Cash at bank and in hand

218,864

168,681

348,501

284,713

CREDITORS

Amounts falling due within one year

7

190,733

160,480

NET CURRENT ASSETS

157,768

124,233

TOTAL ASSETS LESS CURRENT LIABILITIES

594,827

524,878

CREDITORS

Amounts falling due after more than one year

8

(10,000

)

(30,000

)

PROVISIONS FOR LIABILITIES

(109,265

)

(95,514

)

NET ASSETS

475,562

399,364

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

475,560

399,362

SHAREHOLDERS' FUNDS

475,562

399,364

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2025 and were signed on its behalf by:

C Gathercole - Director

S Claydon - Director

1.	STATUTORY INFORMATION

K Gathercole & 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been fully amortised.

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.

Plant and machinery

-

15% on reducing balance

Computer equipment

-

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 Income Statement, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Turnover

Turnover represents net invoiced sale of goods and services, excluding value added tax.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

30,000

AMORTISATION

At 1 April 2024

and 31 March 2025

30,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2024

1,042,272

2,417

1,044,689

Additions

121,982

8,694

130,676

Disposals

(44,190

)

-

(44,190

)

At 31 March 2025

1,120,064

11,111

1,131,175

DEPRECIATION

At 1 April 2024

642,296

1,748

644,044

Charge for year

77,096

2,341

79,437

Eliminated on disposal

(29,365

)

-

(29,365

)

At 31 March 2025

690,027

4,089

694,116

NET BOOK VALUE

At 31 March 2025

430,037

7,022

437,059

At 31 March 2024

399,976

669

400,645

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

122,092

101,388

Other debtors

-

9,250

Prepayments and accrued income

5,045

2,894

127,137

113,532

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

-

Trade creditors

37,339

49,885

Other creditors

56,715

60,245

Tax

57,508

33,501

Social security and other taxes

28,181

15,429

Accrued expenses

990

1,420

190,733

160,480

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

10,000

30,000

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

17,156

20,588

Between one and five years

-

17,586

17,156

38,174

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

C Gathercole

Balance outstanding at start of year

-

3,539

Amounts repaid

-

(3,539

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

S Claydon

Balance outstanding at start of year

-

5,375

Amounts repaid

-

(5,375

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

11.	RELATED PARTY DISCLOSURES

The company is controlled by its directors, Mr & Mrs C J Gathercole and Mr & Mrs S Claydon, by virtue of the fact that they own 100% of the company's ordinary issued share capital.