Registered number: 5455473 | ||||||||
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FOR THE YEAR ENDED 31/03/2021 | ||||||||
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Prepared By: | ||||||||
NB Lancaster & Co | ||||||||
Chartered Accountants | ||||||||
6 Brunswick Street | ||||||||
Carlisle | ||||||||
Cumbria | ||||||||
CA1 1PN |
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Gary Etheridge Domestic Appliances Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2021 | ||||||||
DIRECTORS | ||||||||
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SECRETARY | ||||||||
Miss G M Mitchinson | ||||||||
REGISTERED OFFICE | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 5455473 | ||||||||
BANKERS | ||||||||
Bank of Scotland plc | ||||||||
ACCOUNTANTS | ||||||||
NB Lancaster & Co | ||||||||
Chartered Accountants | ||||||||
6 Brunswick Street | ||||||||
Carlisle | ||||||||
Cumbria | ||||||||
CA1 1PN |
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Gary Etheridge Domestic Appliances Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2021 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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Gary Etheridge Domestic Appliances Limited | ||||||||
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BALANCE SHEET AT
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2021 | 2020 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors | 3 |
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Current Asset Investments | 4 |
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Cash at bank and in hand |
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176,089 | 141,593 | |||||||||
CREDITORS: Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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34,521 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: Amounts falling due after more than one year | 6 | 40,000 | - | |||||||
NET ASSETS |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital |
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Profit and loss account | 57,606 | 39,671 | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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Gary Etheridge Domestic Appliances Limited | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2021 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
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Computer Equipment | reducing balance 25% | |||||||
Motor Vehicles | reducing balance 25% |
1c. Stocks | ||||||||
Stock is valued at the lower of cost and net estimated selling price less selling costs. Cost is based on the weighted average purchase price. |
1d. Taxation | ||||||||
Corporation tax payable is provided on taxable profits at the current rates. | ||||||||
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. |
1e. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1f. Turnover | ||||||||
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. Invoices are raised upon the despatch of goods and the provision of services. |
1g. Government Grants | ||||||||
Government grants offering immediate financial assistance for Covid-19 are recognised in profit and loss in the year in which they are received. |
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Gary Etheridge Domestic Appliances Limited | ||||||||
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1h. Leases | ||||||||
Assets held under hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the agreement. | ||||||||
All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term. |
2. TANGIBLE FIXED ASSETS | ||||||
Computer | ||||||
Equipment | Motor Vehicles | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/04/2020 | 4,178 | 30,837 | 35,015 | |||
At 31/03/2021 | 4,178 | 30,837 | 35,015 | |||
Depreciation | ||||||
At 01/04/2020 | 3,791 | 25,974 | 29,765 | |||
For the year | 97 | 1,216 | 1,313 | |||
At 31/03/2021 | 3,888 | 27,190 | 31,078 | |||
Net Book Amounts | ||||||
At 31/03/2021 | 290 | 3,647 | 3,937 | |||
At 31/03/2020 | 387 | 4,863 | 5,250 | |||
3. DEBTORS | 2021 | 2020 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 7,834 | 7,315 | ||||||
Directors current account | 14,734 | 2,230 | ||||||
22,568 | 9,545 | |||||||
4. CURRENT ASSET INVESTMENTS | ||||||||
2021 | 2020 | |||||||
£ | £ | |||||||
Investment in buying group | 24,671 | 24,671 | ||||||
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Gary Etheridge Domestic Appliances Limited | ||||||||
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5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2021 | 2020 | |||||||
£ | £ | |||||||
UK corporation tax | 24,219 | 10,131 | ||||||
VAT | 5,876 | 14,564 | ||||||
Other tax and social security | - | 564 | ||||||
Bank loans and overdrafts | - | 20,490 | ||||||
Trade creditors | 49,475 | 58,573 | ||||||
Accruals | 2,750 | 2,750 | ||||||
82,320 | 107,072 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2021 | 2020 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 40,000 | - | ||||||
40,000 | - | |||||||
7. EMPLOYEES | ||||||
2021 | 2020 | |||||
No. | No. | |||||
Average number of employees |
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4 | ||||
8. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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9. ADDITIONAL INFORMATION | ||||||||
The company is a private company, limited by shares and registered in England & Wales. | ||||||||
The company's registered number is 05455473. | ||||||||
The company's registered office is 6 Brunswick Street, Carlisle CA1 1PN. |
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Gary Etheridge Domestic Appliances Limited | ||||||||
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10. TRANSACTIONS WITH DIRECTORS | ||||||||
At 1 April 2020 a loan of £2,230 was owed to the company by the director which was repaid in full. Further advances of £7,367 were made during the year and remain outstanding at the balance sheet date. The loan is unsecured, interest free and repayable on demand. | ||||||||