Derek Gannon Limited - Accounts to registrar (filleted) - small 22.3

Derek Gannon Limited - Accounts to registrar (filleted) - small 22.3

DEREK GANNON LIMITED - Company Information

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REGISTERED NUMBER: 11133747 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

Derek Gannon Limited
Derek Gannon Limited (Registered number: 11133747)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Derek Gannon Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: D L Gannon





REGISTERED OFFICE: Starling Barn
Fiddlers Green
St Newlyn East
Newquay
Cornwall
TR8 5NJ





REGISTERED NUMBER: 11133747 (England and Wales)





ACCOUNTANTS: Sovereign Accounting Solutions
Chartered Accountants and Business Advisers
Unit 9
Moorland Road Industrial Park
Moorland Road, Indian Queens
St Columb
Cornwall
TR9 6FB
Page 1
Derek Gannon Limited (Registered number: 11133747)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,240 1,654

CURRENT ASSETS
Debtors 5 35,418 23,982
Cash at bank 560 6,333
35,978 30,315
CREDITORS
Amounts falling due within one year 6 20,478 21,830
NET CURRENT ASSETS 15,500 8,485
TOTAL ASSETS LESS CURRENT
LIABILITIES
16,740
10,139

CREDITORS
Amounts falling due after more than one
year
7
(5,401
)
(9,444
)

PROVISIONS FOR LIABILITIES (236 ) (314 )
NET ASSETS 11,103 381

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,003 281
SHAREHOLDERS' FUNDS 11,103 381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
Derek Gannon Limited (Registered number: 11133747)

Balance Sheet - continued
31 January 2024


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 director and authorised for issue on 8 April 2024 and were signed by:





D L Gannon - Director


The notes form part of these financial statements

Page 3
Derek Gannon Limited (Registered number: 11133747)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Derek Gannon 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 etc - 33% on cost and 25% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Page 4 continued...
Derek Gannon Limited (Registered number: 11133747)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 8,387
DEPRECIATION
At 1 February 2023 6,733
Charge for year 414
At 31 January 2024 7,147
NET BOOK VALUE
At 31 January 2024 1,240
At 31 January 2023 1,654

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 11,550 -
Other debtors 23,868 23,982
35,418 23,982

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors - 2,642
Taxation and social security 15,057 11,605
Other creditors 5,421 7,583
20,478 21,830

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other creditors 5,401 9,444

Page 5