Silverfin false 31/03/2022 31/03/2022 01/04/2021 J Lewis 23/12/1998 P Lewis 17/07/2006 15 August 2022 The principal activity of the Company during the financial year is specialist asbestos testing. 03687929 2022-03-31 03687929 bus:Director1 2022-03-31 03687929 bus:Director2 2022-03-31 03687929 2021-03-31 03687929 core:CurrentFinancialInstruments 2022-03-31 03687929 core:CurrentFinancialInstruments 2021-03-31 03687929 core:Non-currentFinancialInstruments 2022-03-31 03687929 core:Non-currentFinancialInstruments 2021-03-31 03687929 core:ShareCapital 2022-03-31 03687929 core:ShareCapital 2021-03-31 03687929 core:CapitalRedemptionReserve 2022-03-31 03687929 core:CapitalRedemptionReserve 2021-03-31 03687929 core:RetainedEarningsAccumulatedLosses 2022-03-31 03687929 core:RetainedEarningsAccumulatedLosses 2021-03-31 03687929 core:PlantMachinery 2021-03-31 03687929 core:Vehicles 2021-03-31 03687929 core:PlantMachinery 2022-03-31 03687929 core:Vehicles 2022-03-31 03687929 2021-04-01 2022-03-31 03687929 bus:FullAccounts 2021-04-01 2022-03-31 03687929 bus:SmallEntities 2021-04-01 2022-03-31 03687929 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 03687929 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 03687929 bus:Director1 2021-04-01 2022-03-31 03687929 bus:Director2 2021-04-01 2022-03-31 03687929 core:PlantMachinery 2021-04-01 2022-03-31 03687929 core:Vehicles 2021-04-01 2022-03-31 03687929 2020-04-01 2021-03-31 03687929 core:Non-currentFinancialInstruments 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Company No: 03687929 (England and Wales)

G & L CONSULTANCY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2022
Pages for filing with the registrar

G & L CONSULTANCY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2022

Contents

G & L CONSULTANCY LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2022
G & L CONSULTANCY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2022
DIRECTORS J Lewis
P Lewis
REGISTERED OFFICE Unit 5a Castle Road
Chelston Business Park
Wellington
TA21 9JQ
United Kingdom
COMPANY NUMBER 03687929 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
G & L CONSULTANCY LIMITED

BALANCE SHEET

As at 31 March 2022
G & L CONSULTANCY LIMITED

BALANCE SHEET (continued)

As at 31 March 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 301,129 250,689
301,129 250,689
Current assets
Debtors 4 667,570 655,450
Cash at bank and in hand 329,857 280,283
997,427 935,733
Creditors
Amounts falling due within one year 5 ( 584,744) ( 459,296)
Net current assets 412,683 476,437
Total assets less current liabilities 713,812 727,126
Creditors
Amounts falling due after more than one year 6 ( 41,976) ( 34,997)
Provisions for liabilities ( 70,935) ( 42,840)
Net assets 600,901 649,289
Capital and reserves
Called-up share capital 90,000 90,000
Capital redemption reserve 90,000 90,000
Profit and loss account 420,901 469,289
Total shareholder's funds 600,901 649,289

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of G & L Consultancy Limited (registered number: 03687929) were approved and authorised for issue by the Board of Directors on 15 August 2022. They were signed on its behalf by:

J Lewis
Director
G & L CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
G & L CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

G & L Consultancy Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 5a Castle Road, Chelston Business Park, Wellington, TA21 9JQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the 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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 - 25 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 72 74

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 April 2021 346,445 393,810 740,255
Additions 34,904 91,770 126,674
Disposals 0 ( 39,552) ( 39,552)
At 31 March 2022 381,349 446,028 827,377
Accumulated depreciation
At 01 April 2021 234,495 255,071 489,566
Charge for the financial year 25,200 44,342 69,542
Disposals 0 ( 32,860) ( 32,860)
At 31 March 2022 259,695 266,553 526,248
Net book value
At 31 March 2022 121,654 179,475 301,129
At 31 March 2021 111,950 138,739 250,689

4. Debtors

2022 2021
£ £
Trade debtors 603,757 607,068
Other debtors 63,813 48,382
667,570 655,450

5. Creditors: amounts falling due within one year

2022 2021
£ £
Trade creditors 122,428 59,537
Amounts owed to Group undertakings 160,000 110,000
Other creditors 95,520 44,228
Corporation tax 13,924 48,917
Other taxation and social security 158,654 164,985
Obligations under finance leases and hire purchase contracts 34,218 31,629
584,744 459,296

6. Creditors: amounts falling due after more than one year

2022 2021
£ £
Obligations under finance leases and hire purchase contracts 41,976 34,997

There are no amounts included above in respect of which any security has been given by the small entity.

7. Government Grants

During the year other income of £730 (2021 - £333,322) was received from the government under the coronavirus job retention scheme. In addition further small business grants of £6,492 (2021 - £10,000) were received during the year.
The amount of grants recognised in the financial statements was £7,222 (2021 - £343,322).