Gaddum & Gaddum Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05980988 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Gaddum & Gaddum Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T H M Gaddum

Mrs J E Gaddum

SECRETARY:

T H M Gaddum

REGISTERED OFFICE:

Pewit Hall Farm

Onecote

Leek

Staffordshire

ST13 7SE

REGISTERED NUMBER:

05980988 (England and Wales)

ACCOUNTANTS:

Bennett Brooks (Leek) Ltd

Cherry Tree Court

Cross Street

Leek

Staffordshire

ST13 6BL

FIXED ASSETS

Tangible assets

4

14,175

2,714

CURRENT ASSETS

Stocks

31,000

31,500

Debtors

5

422

29,222

Cash at bank

70,718

46,370

102,140

107,092

CREDITORS

Amounts falling due within one year

6

(28,491

)

(14,829

)

NET CURRENT ASSETS

73,649

92,263

TOTAL ASSETS LESS CURRENT LIABILITIES

87,824

94,977

PROVISIONS FOR LIABILITIES

(2,700

)

(450

)

NET ASSETS

85,124

94,527

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

85,024

94,427

85,124

94,527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2023 and were signed on its behalf by:

T H M Gaddum - Director

1.	STATUTORY INFORMATION

Gaddum & Gaddum 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on cost

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 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2022

3,927

1,050

4,977

Additions

16,329

-

16,329

At 31 March 2023

20,256

1,050

21,306

DEPRECIATION

At 1 April 2022

1,633

630

2,263

Charge for year

4,658

210

4,868

At 31 March 2023

6,291

840

7,131

NET BOOK VALUE

At 31 March 2023

13,965

210

14,175

At 31 March 2022

2,294

420

2,714

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

422

27,040

Other debtors

-

2,182

422

29,222

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

16,541

10,999

Taxation and social security

10,366

1,404

Other creditors

1,584

2,426

28,491

14,829