Registered number
07534427
Gembil Construction Limited
Filleted Accounts
28 February 2023
Gembil Construction Limited
Registered number: 07534427
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 29,566 35,127
Current assets
Debtors 4 5,492 4,000
Cash at bank and in hand 3,011 1,538
8,503 5,538
Creditors: amounts falling due within one year 5 (92,911) (89,697)
Net current liabilities (84,408) (84,159)
Net liabilities (54,842) (49,032)
Capital and reserves
Called up share capital 2 2
Profit and loss account (54,844) (49,034)
Shareholders' funds (54,842) (49,032)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T C Shipp
Director
Approved by the board on 8 November 2023
Gembil Construction Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 82,019 60,526 142,545
Additions 439 - 439
At 28 February 2023 82,458 60,526 142,984
Depreciation
At 1 March 2022 53,539 53,879 107,418
Charge for the year 4,338 1,662 6,000
At 28 February 2023 57,877 55,541 113,418
Net book value
At 28 February 2023 24,581 4,985 29,566
At 28 February 2022 28,480 6,647 35,127
4 Debtors 2023 2022
£ £
Trade debtors 4,000 4,000
Other debtors 1,492 -
5,492 4,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 483 5,317
Taxation and social security costs 1,309 982
Other creditors 91,119 83,398
92,911 89,697
6 Other information
Gembil Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
5-7 Station Road
Longfield
Kent
DA3 7QD
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