Gabrieles (Sunderland) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04515691 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Gabrieles (Sunderland) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

N Di Meo

SECRETARY:

C Di Meo

REGISTERED OFFICE:

4 Queens Parade

Seaburn

Sunderland

SR6 8DA

REGISTERED NUMBER:

04515691 (England and Wales)

ACCOUNTANTS:

TTR Barnes

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

BANKERS:

National Westminster Bank Plc

52 Fawcett Street

Sunderland

Tyne and Wear

SR1 1SB

FIXED ASSETS

Intangible assets

4

26,400

33,000

Tangible assets

5

5,029

5,916

31,429

38,916

CURRENT ASSETS

Stocks

3,250

3,500

Debtors

6

534

488

Cash at bank and in hand

202,246

175,507

206,030

179,495

CREDITORS

Amounts falling due within one year

7

152,016

140,918

NET CURRENT ASSETS

54,014

38,577

TOTAL ASSETS LESS CURRENT LIABILITIES

85,443

77,493

PROVISIONS FOR LIABILITIES

986

1,124

NET ASSETS

84,457

76,369

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

84,357

76,269

SHAREHOLDERS' FUNDS

84,457

76,369

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 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 director and authorised for issue on 22 February 2024 and were signed by:

N Di Meo - Director

1.	STATUTORY INFORMATION

Gabrieles (Sunderland) 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.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the director considers to be appropriate.

Turnover

Turnover represents sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 12 (2022 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2022

and 31 August 2023

165,000

AMORTISATION

At 1 September 2022

132,000

Amortisation for year

6,600

At 31 August 2023

138,600

NET BOOK VALUE

At 31 August 2023

26,400

At 31 August 2022

33,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2022

and 31 August 2023

19,201

DEPRECIATION

At 1 September 2022

13,285

Charge for year

887

At 31 August 2023

14,172

NET BOOK VALUE

At 31 August 2023

5,029

At 31 August 2022

5,916

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Prepayments

534

488

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

7,822

6,304

Tax

12,039

17,517

Social security and other taxes

18,716

21,202

Directors' current accounts

99,472

86,851

Accrued expenses

13,967

9,044

152,016

140,918

8.

CONTROL

The controlling party is N Di Meo.