Company Registration No. 6854160 (England and Wales)
GAMBLE & HOLLIS LIMITED
Unaudited accounts
for the year ended 31 March 2019
GAMBLE & HOLLIS LIMITED
Unaudited accounts
Contents
GAMBLE & HOLLIS LIMITED
Company Information
for the year ended 31 March 2019
Directors
C HOLLIS
J GAMBLE
Company Number
6854160 (England and Wales)
Registered Office
1193 MELTON ROAD
SYSTON
LEICESTER
LE7 2JT
Accountants
AJD Accountancy Services Ltd
The Bungalow
Coppice Lane
Queniborough
Leicester
LE7 3DR
GAMBLE & HOLLIS LIMITED
Statement of financial position
as at 31 March 2019
Tangible assets
26,522
34,535
Cash at bank and in hand
16,791
46,605
Creditors: amounts falling due within one year
(30,437)
(36,008)
Net current assets
14,763
30,162
Total assets less current liabilities
41,285
64,697
Creditors: amounts falling due after more than one year
(13,958)
(18,582)
Provisions for liabilities
Deferred tax
(5,039)
(6,562)
Called up share capital
1,000
1,000
Profit and loss account
21,288
38,553
Shareholders' funds
22,288
39,553
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 11 June 2019.
J GAMBLE
Director
Company Registration No. 6854160
GAMBLE & HOLLIS LIMITED
Notes to the Accounts
for the year ended 31 March 2019
GAMBLE & HOLLIS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 6854160. The registered office is 1193 MELTON ROAD, SYSTON, LEICESTER, LE7 2JT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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 accounts. 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 current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
GAMBLE & HOLLIS LIMITED
Notes to the Accounts
for the year ended 31 March 2019
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2018
67,555
18,645
86,200
At 31 March 2019
67,555
18,645
86,200
At 1 April 2018
45,443
6,222
51,665
Charge for the year
5,528
2,485
8,013
At 31 March 2019
50,971
8,707
59,678
At 31 March 2019
16,584
9,938
26,522
At 31 March 2018
22,112
12,423
34,535
Finished goods
2,045
1,975
Accrued income and prepayments
1,302
1,250
Other debtors
25,062
15,780
GAMBLE & HOLLIS LIMITED
Notes to the Accounts
for the year ended 31 March 2019
8
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
4,552
4,552
Trade creditors
7,641
23,917
Taxes and social security
10,185
4,074
Loans from directors
4,994
-
9
Creditors: amounts falling due after more than one year
2019
2018
The bank loan is secured by personal director guarantees and is repayable by monthly installments of £469.42 per month at a fixed rate of interest for 5 years. Included in creditors due within one year is £4,552 (2018 £4,552).
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
11
Transactions with related parties
During the year ended 31st March 2019, £8,000 (2018 - £8,000) was paid in relation to rental of the premises that is jointly owned by the directors Mr C.L. Hollis and Mr J.A. Gamble. At the balance sheet date there was an interest free loan of £23,271 included in other debtors (2018 creditor £58)
The company is controlled by its directors Mr C.L. Hollis and Mr J.A. Gamble equally.
13
Average number of employees
During the year the average number of employees was 10 (2018: 10).
