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REGISTERED NUMBER: 04578147 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 January 2022

for

GSG Buildings Limited

GSG Buildings Limited (Registered number: 04578147)

Contents of the Financial Statements
for the Year Ended 31 January 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GSG Buildings Limited

Company Information
for the Year Ended 31 January 2022







DIRECTOR: Mr E W Crook





REGISTERED OFFICE: Frank Street
Preston
Lancashire
PR1 1PB





REGISTERED NUMBER: 04578147 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

GSG Buildings Limited (Registered number: 04578147)

Statement of Financial Position
31 January 2022

31.1.22 31.1.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,789 30,465

CURRENT ASSETS
Stocks 22,405 21,674
Debtors 5 27,648 25,302
Cash at bank 33,888 58,310
83,941 105,286
CREDITORS
Amounts falling due within one year 6 71,014 84,201
NET CURRENT ASSETS 12,927 21,085
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,716

51,550

PROVISIONS FOR LIABILITIES 9,270 5,788
NET ASSETS 52,446 45,762

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 52,343 45,659
SHAREHOLDERS' FUNDS 52,446 45,762

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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.

GSG Buildings Limited (Registered number: 04578147)

Statement of Financial Position - continued
31 January 2022


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 28 June 2022 and were signed by:





Mr E W Crook - Director


GSG Buildings Limited (Registered number: 04578147)

Notes to the Financial Statements
for the Year Ended 31 January 2022


1. STATUTORY INFORMATION

GSG Buildings 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 - going concern
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.

On 11 March 2020, the World Health Organisation officially declared COVID-19 as a pandemic.

The accounts have been prepared on a going concern basis as although there are indicators of financial impact in relation to COVID-19 the directors have taken what are considered all necessary measures to protect the business from this to limit any adverse impact.

The Directors anticipate the company continuing to trade for the foreseeable future and are monitoring the situation.

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 - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% 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 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 statement of financial position date.


GSG Buildings Limited (Registered number: 04578147)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2022


2. ACCOUNTING POLICIES - continued
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.

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 5 (2021 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2021 9,143 1,105 99,642 5,723 115,613
Additions 5,431 - 35,501 150 41,082
Disposals (3,063 ) - (59,590 ) (2,938 ) (65,591 )
At 31 January 2022 11,511 1,105 75,553 2,935 91,104
DEPRECIATION
At 1 February 2021 8,483 1,105 71,347 4,213 85,148
Charge for year 1,416 - 12,050 796 14,262
Eliminated on disposal (3,063 ) - (51,094 ) (2,938 ) (57,095 )
At 31 January 2022 6,836 1,105 32,303 2,071 42,315
NET BOOK VALUE
At 31 January 2022 4,675 - 43,250 864 48,789
At 31 January 2021 660 - 28,295 1,510 30,465

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Trade debtors 20,321 20,428
Other debtors 7,327 4,874
27,648 25,302

GSG Buildings Limited (Registered number: 04578147)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Hire purchase contracts (see note 7) - 2,413
Trade creditors 24,859 15,889
Taxation and social security 7,455 17,737
Other creditors 38,700 48,162
71,014 84,201

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.22 31.1.21
£    £   
Net obligations repayable:
Within one year - 2,413

Non-cancellable operating leases
31.1.22 31.1.21
£    £   
Within one year 1,100 1,100