Company Registration No. 11991169 (England and Wales)
ALL GAS SERVICES SW LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
ALL GAS SERVICES SW LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ALL GAS SERVICES SW LTD
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
60,000
70,000
Tangible assets
4
279
2,872
60,279
72,872
Current assets
Stocks
600
600
Debtors
5
7,913
10,278
Cash at bank and in hand
46,620
22,825
55,133
33,703
Creditors: amounts falling due within one year
6
(73,136)
(64,867)
Net current liabilities
(18,003)
(31,164)
Total assets less current liabilities
42,276
41,708
Provisions for liabilities
(53)
(546)
Net assets
42,223
41,162
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
42,123
41,062
Total equity
42,223
41,162
ALL GAS SERVICES SW LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2023
31 May 2023
- 2 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 22 September 2023
Mr PE Bradford
Director
Company Registration No. 11991169
ALL GAS SERVICES SW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information

All Gas Services SW Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor 3 & 4 Cranmere Court, Lustleigh Close, Matford Business Park, Exeter, Devon, EX2 8PW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. Turnover is recognised when services are provided.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Motor vehicles
25% straight line

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.

ALL GAS SERVICES SW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
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 current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

ALL GAS SERVICES SW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 5 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
1
ALL GAS SERVICES SW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2022 and 31 May 2023
100,000
Amortisation and impairment
At 1 June 2022
30,000
Amortisation charged for the year
10,000
At 31 May 2023
40,000
Carrying amount
At 31 May 2023
60,000
At 31 May 2022
70,000
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 and 31 May 2023
10,860
Depreciation and impairment
At 1 June 2022
7,988
Depreciation charged in the year
2,593
At 31 May 2023
10,581
Carrying amount
At 31 May 2023
279
At 31 May 2022
2,872
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
7,178
9,340
Other debtors
-
0
203
Prepayments and accrued income
735
735
7,913
10,278
ALL GAS SERVICES SW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
5,318
9,077
Other taxation and social security
23,828
9,663
Other creditors
42,537
44,136
Accruals and deferred income
1,453
1,991
73,136
64,867
7
Related party transactions
2023
2022
Amounts due to related parties
£
£
Key management personnel
42,537
44,760

No interest has been charged on this balance and there are no fixed dates for repayment.

2023-05-31 2022-06-01 false 04 October 2023 CCH Software CCH Accounts Production 2023.200 No description of principal activity Mr P E Bradford Mrs F A Bradford 11991169 2022-06-01 2023-05-31 11991169 2023-05-31 11991169 2022-05-31 11991169 core:NetGoodwill 2023-05-31 11991169 core:NetGoodwill 2022-05-31 11991169 core:OtherPropertyPlantEquipment 2023-05-31 11991169 core:OtherPropertyPlantEquipment 2022-05-31 11991169 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 11991169 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 11991169 core:CurrentFinancialInstruments 2023-05-31 11991169 core:CurrentFinancialInstruments 2022-05-31 11991169 core:ShareCapital 2023-05-31 11991169 core:ShareCapital 2022-05-31 11991169 core:RetainedEarningsAccumulatedLosses 2023-05-31 11991169 core:RetainedEarningsAccumulatedLosses 2022-05-31 11991169 bus:Director1 2022-06-01 2023-05-31 11991169 core:Goodwill 2022-06-01 2023-05-31 11991169 core:PlantMachinery 2022-06-01 2023-05-31 11991169 core:FurnitureFittings 2022-06-01 2023-05-31 11991169 core:MotorVehicles 2022-06-01 2023-05-31 11991169 2021-06-01 2022-05-31 11991169 core:NetGoodwill 2022-05-31 11991169 core:NetGoodwill 2022-06-01 2023-05-31 11991169 core:OtherPropertyPlantEquipment 2022-05-31 11991169 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 11991169 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 11991169 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 11991169 bus:FRS102 2022-06-01 2023-05-31 11991169 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 11991169 bus:CompanySecretary1 2022-06-01 2023-05-31 11991169 bus:FullAccounts 2022-06-01 2023-05-31 xbrli:pure xbrli:shares iso4217:GBP