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COMPANY REGISTRATION NUMBER: 13224912
G&G Exterior Design Ltd
Filleted Unaudited Financial Statements
For the period ended
28 February 2022
G&G Exterior Design Ltd
Financial Statements
Year ended 28 February 2022
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
G&G Exterior Design Ltd
Officers and Professional Advisers
The board of directors
Mr C J Gwynne
Mr A J W Green
Registered office
29 Flagholme
Cotgrave
Nottingham
NG12 3PE
Accountants
ADS Accountancy Limited
Chartered Certified Accountants
550 Valley Road
Basford
Nottingham
NG5 1JJ
Bankers
Cashplus Bank
Cottons Centre
Cottons Lane
London
SE1 2QG
G&G Exterior Design Ltd
Statement of Financial Position
28 February 2022
2022
Note
£
Fixed assets
Tangible assets
4
9,385
Current assets
Cash at bank and in hand
4,043
Creditors: amounts falling due within one year
5
9,911
-------
Net current liabilities
5,868
-------
Total assets less current liabilities
3,517
-------
Net assets
3,517
-------
Capital and reserves
Called up share capital
6
110
Profit and loss account
3,407
-------
Shareholders funds
3,517
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 28 February 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 September 2022 , and are signed on behalf of the board by:
Mr C J Gwynne
Director
Company registration number: 13224912
G&G Exterior Design Ltd
Notes to the Financial Statements
Year ended 28 February 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Flagholme, Cotgrave, Nottingham, NG12 3PE.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced for work carried out during the year, exclusive of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
20% reducing balance
Equipment
-
20% reducing balance
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 2 .
4. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 March 2021
Additions
3,799
7,500
670
11,969
-------
-------
----
--------
At 28 February 2022
3,799
7,500
670
11,969
-------
-------
----
--------
Depreciation
At 1 March 2021
Charge for the year
950
1,500
134
2,584
-------
-------
----
--------
At 28 February 2022
950
1,500
134
2,584
-------
-------
----
--------
Carrying amount
At 28 February 2022
2,849
6,000
536
9,385
-------
-------
----
--------
5. Creditors: amounts falling due within one year
2022
£
Social security and other taxes
392
Other creditors
9,519
-------
9,911
-------
6. Called up share capital
Issued, called up and fully paid
2022
No.
£
Ordinary A shares of £ 1 each
50
50
Ordinary B shares of £ 1 each
50
50
Ordinary C shares of £ 1 each
10
10
----
----
110
110
----
----
During the period 50 Ordinary A, 50 Ordinary B and 10 Ordinary C shares were issued.
7. Directors' advances, credits and guarantees
At the statement of financial position date the amount owing to the directors was £8,759. The directors loan account is unsecured, interest free and repayable on demand.