Company Registration No. 6854160 (England and Wales)
GAMBLE & HOLLIS LIMITED
Unaudited accounts
for the year ended 31 March 2023
GAMBLE & HOLLIS LIMITED
Unaudited accounts
Contents
GAMBLE & HOLLIS LIMITED
Company Information
for the year ended 31 March 2023
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 2023
Tangible assets
18,404
22,092
Cash at bank and in hand
44,388
73,546
Creditors: amounts falling due within one year
(18,990)
(39,352)
Net current assets
41,426
41,241
Total assets less current liabilities
59,830
63,333
Provisions for liabilities
Deferred tax
(3,496)
(4,197)
Called up share capital
1,000
1,000
Profit and loss account
55,334
58,136
Shareholders' funds
56,334
59,136
For the year ending 31 March 2023 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.
The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2023 and were signed on its behalf by
J GAMBLE
Director
Company Registration No. 6854160
GAMBLE & HOLLIS LIMITED
Notes to the Accounts
for the year ended 31 March 2023
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.
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 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.
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.
GAMBLE & HOLLIS LIMITED
Notes to the Accounts
for the year ended 31 March 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2022
80,042
18,645
98,687
At 31 March 2023
81,842
18,645
100,487
At 1 April 2022
63,138
13,457
76,595
Charge for the year
4,451
1,037
5,488
At 31 March 2023
67,589
14,494
82,083
At 31 March 2023
14,253
4,151
18,404
At 31 March 2022
16,904
5,188
22,092
Amounts falling due within one year
Accrued income and prepayments
918
829
GAMBLE & HOLLIS LIMITED
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
5,744
13,458
Taxes and social security
9,479
4,302
Other creditors
307
17,148
Loans from directors
-
1,409
The bank loan is secured by a floating charge over the assets of the business.
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
(1,409)
20,094
10,624
8,061
Included in other debtors are director loan account balances which have had no interest charged and are fully repaid after the year end date.
10
Transactions with related parties
Rent was paid during the year of £12,000 (2022 £12,000) for the premises that is owned jointly by the directors.
The company is controlled by its directors Mr C.L. Hollis and Mr J.A. Gamble equally.
12
Average number of employees
During the year the average number of employees was 8 (2022: 10).
