Andy's Gas Ltd 05008573 false 2021-02-01 2022-01-31 2022-01-31 The principal activity of the company is to supply and deliver liquid petroleum gas. Digita Accounts Production Advanced 6.29.9459.0 true 05008573 2021-02-01 2022-01-31 05008573 2022-01-31 05008573 core:CurrentFinancialInstruments 2022-01-31 05008573 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 05008573 core:Goodwill 2022-01-31 05008573 core:FurnitureFittingsToolsEquipment 2022-01-31 05008573 core:MotorVehicles 2022-01-31 05008573 bus:SmallEntities 2021-02-01 2022-01-31 05008573 bus:AuditExemptWithAccountantsReport 2021-02-01 2022-01-31 05008573 bus:FullAccounts 2021-02-01 2022-01-31 05008573 bus:SmallCompaniesRegimeForAccounts 2021-02-01 2022-01-31 05008573 bus:RegisteredOffice 2021-02-01 2022-01-31 05008573 bus:Director1 2021-02-01 2022-01-31 05008573 bus:Director2 2021-02-01 2022-01-31 05008573 bus:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 05008573 core:Goodwill 2021-02-01 2022-01-31 05008573 core:FurnitureFittingsToolsEquipment 2021-02-01 2022-01-31 05008573 core:MotorCars 2021-02-01 2022-01-31 05008573 core:MotorVehicles 2021-02-01 2022-01-31 05008573 countries:UnitedKingdom 2021-02-01 2022-01-31 05008573 2021-01-31 05008573 core:Goodwill 2021-01-31 05008573 core:FurnitureFittingsToolsEquipment 2021-01-31 05008573 core:MotorVehicles 2021-01-31 05008573 2020-02-01 2021-01-31 05008573 2021-01-31 05008573 core:CurrentFinancialInstruments 2021-01-31 05008573 core:CurrentFinancialInstruments core:WithinOneYear 2021-01-31 05008573 core:Goodwill 2021-01-31 05008573 core:FurnitureFittingsToolsEquipment 2021-01-31 05008573 core:MotorVehicles 2021-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05008573

Andy's Gas Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2022

 

Andy's Gas Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Andy's Gas Ltd

Company Information

Directors

Mrs Carolyn Hollister-Criddle

Mr James Hollister

Registered office

Andys Gas (Bristol)
Our House
Cribbs Causeway
Bristol
BS10 7TU

Accountants

Melrose Group
8 St Mary Street
Thornbury
Bristol
BS35 2AB

 

Andy's Gas Ltd

(Registration number: 05008573)
Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

-

917

Tangible assets

5

293,805

219,011

 

293,805

219,928

Current assets

 

Stocks

6

79,643

78,062

Debtors

7

4,173

3,806

Cash at bank and in hand

 

38,437

106,669

 

122,253

188,537

Creditors: Amounts falling due within one year

8

(150,946)

(195,119)

Net current liabilities

 

(28,693)

(6,582)

Net assets

 

265,112

213,346

Capital and reserves

 

Called up share capital

9

100

100

Profit and loss account

265,012

213,246

Shareholders' funds

 

265,112

213,346

For the financial year ending 31 January 2022 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.

Approved and authorised by the Board on 31 August 2022 and signed on its behalf by:
 

.........................................
Mrs Carolyn Hollister-Criddle
Director

 

Andy's Gas Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Andys Gas (Bristol)
Our House
Cribbs Causeway
Bristol
BS10 7TU

These financial statements were authorised for issue by the Board on 31 August 2022.

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 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' .

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Furniture, Fittings and Equipment

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

 

Andy's Gas Ltd

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 Years

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2021 - 9).

 

Andy's Gas Ltd

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2021

5,000

5,000

At 31 January 2022

5,000

5,000

Amortisation

At 1 February 2021

4,083

4,083

Amortisation charge

917

917

At 31 January 2022

5,000

5,000

Carrying amount

At 31 January 2022

-

-

At 31 January 2021

917

917

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2021

538,059

169,835

707,894

Additions

115,588

18,240

133,828

Disposals

-

(4,167)

(4,167)

At 31 January 2022

653,647

183,908

837,555

Depreciation

At 1 February 2021

376,373

112,510

488,883

Charge for the year

41,976

12,891

54,867

At 31 January 2022

418,349

125,401

543,750

Carrying amount

At 31 January 2022

235,298

58,507

293,805

At 31 January 2021

161,686

57,325

219,011

6

Stocks

2022
£

2021
£

Other inventories

79,643

78,062

 

Andy's Gas Ltd

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

7

Debtors

2022
£

2021
£

Prepayments

6,377

5,402

Other debtors

(2,204)

(1,596)

4,173

3,806

8

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

108,103

107,389

Trade creditors

 

64,905

83,492

Taxation and social security

 

(22,062)

4,238

 

150,946

195,119

9

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

A Class Shares of £1 each

96

96

96

96

B Class Shares of £1 each

1

1

1

1

C Class Shares of £1 each

1

1

1

1

D Class Shares of £1 each

1

1

1

1

E Class Shares of £1 each

1

1

1

1

 

100

100

100

100