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Registration number: 04614037

Gordon Gill Fine Turf Maintenance Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

 

Gordon Gill Fine Turf Maintenance Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

Gordon Gill Fine Turf Maintenance Limited

(Registration number: 04614037)
Balance Sheet as at 31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

12,782

16,988

Current assets

 

Debtors

5

2,900

5,277

Cash at bank and in hand

 

67,424

37,818

 

70,324

43,095

Creditors: Amounts falling due within one year

6

(73,269)

(57,178)

Net current liabilities

 

(2,945)

(14,083)

Total assets less current liabilities

 

9,837

2,905

Provisions for liabilities

(1,914)

(2,737)

Net assets

 

7,923

168

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

7,921

166

Total equity

 

7,923

168

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Gordon Gill Fine Turf Maintenance Limited

(Registration number: 04614037)
Balance Sheet as at 31 March 2018

Approved and authorised by the Board on 1 October 2018 and signed on its behalf by:
 

.........................................

G Gill
Director

 

Gordon Gill Fine Turf Maintenance Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 Castleview
Westbury
Wiltshire
BA13 3HR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Gordon Gill Fine Turf Maintenance Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Computers

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Gordon Gill Fine Turf Maintenance Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2017 - 2).

 

Gordon Gill Fine Turf Maintenance Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2017

97,322

16,100

113,422

Additions

442

-

442

At 31 March 2018

97,764

16,100

113,864

Depreciation

At 1 April 2017

83,476

12,958

96,434

Charge for the year

3,863

785

4,648

At 31 March 2018

87,339

13,743

101,082

Carrying amount

At 31 March 2018

10,425

2,357

12,782

At 31 March 2017

13,846

3,142

16,988

5

Debtors

2018
£

2017
£

Trade debtors

2,000

4,273

Prepayments

801

905

Other debtors

99

99

2,900

5,277

6

Creditors

Amounts falling due within one year

2018
£

2017
£

Due within one year

Trade creditors

231

2,788

Taxation and social security

738

896

Accruals and deferred income

7,379

1,329

Other creditors

57,756

48,847

Corporation tax

7,165

3,318

73,269

57,178