IRIS Accounts Production v23.2.0.158 05975945 Board of Directors Board of Directors 1.6.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh059759452022-05-31059759452023-03-31059759452022-06-012023-03-31059759452021-05-31059759452021-06-012022-05-31059759452022-05-3105975945ns10:Originalns15:EnglandWales2022-06-012023-03-3105975945ns14:PoundSterlingns10:Original2022-06-012023-03-3105975945ns10:Originalns10:Director12022-06-012023-03-3105975945ns10:Original2022-06-012023-03-3105975945ns10:Originalns10:Director22022-06-012023-03-3105975945ns10:Original2023-03-3105975945ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-03-3105975945ns10:Originalns10:SmallEntities2022-06-012023-03-3105975945ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-03-3105975945ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-03-3105975945ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-03-3105975945ns10:Originalns10:FullAccounts2022-06-012023-03-3105975945ns10:Originalns10:RegisteredOffice2022-06-012023-03-3105975945ns10:Original2022-05-3105975945ns10:Originalns5:CurrentFinancialInstruments2023-03-3105975945ns10:Originalns5:CurrentFinancialInstruments2022-05-3105975945ns10:Originalns5:Non-currentFinancialInstruments2023-03-3105975945ns10:Originalns5:Non-currentFinancialInstruments2022-05-3105975945ns5:ShareCapitalns10:Original2023-03-3105975945ns5:ShareCapitalns10:Original2022-05-3105975945ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3105975945ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3105975945ns10:Originalns5:PlantMachinery2022-06-012023-03-3105975945ns10:Originalns5:MotorVehicles2022-06-012023-03-3105975945ns10:Originalns5:ComputerEquipment2022-06-012023-03-3105975945ns10:Original2021-06-012022-05-3105975945ns10:Originalns5:PlantMachinery2022-05-3105975945ns10:Originalns5:MotorVehicles2022-05-3105975945ns10:Originalns5:ComputerEquipment2022-05-3105975945ns10:Original2022-05-3105975945ns10:Originalns5:PlantMachinery2023-03-3105975945ns10:Originalns5:MotorVehicles2023-03-3105975945ns10:Originalns5:ComputerEquipment2023-03-3105975945ns10:Originalns5:PlantMachinery2022-05-3105975945ns10:Originalns5:MotorVehicles2022-05-3105975945ns10:Originalns5:ComputerEquipment2022-05-3105975945ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105975945ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3105975945ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-03-3105975945ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-05-3105975945ns5:Securedns10:Original2023-03-3105975945ns5:Securedns10:Original2022-05-3105975945ns10:Original1ns10:Director12022-05-3105975945ns10:Original1ns10:Director12021-05-3105975945ns10:Original1ns10:Director12022-06-012023-03-3105975945ns10:Original1ns10:Director12021-06-012022-05-3105975945ns10:Original1ns10:Director12023-03-3105975945ns10:Original1ns10:Director12022-05-3105975945ns10:Originalns10:Director222022-05-3105975945ns10:Originalns10:Director222021-05-3105975945ns10:Originalns10:Director222022-06-012023-03-3105975945ns10:Originalns10:Director222021-06-012022-05-3105975945ns10:Originalns10:Director222023-03-3105975945ns10:Originalns10:Director222022-05-31
REGISTERED NUMBER: 05975945 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2022 TO 31 MARCH 2023

FOR

GSK ELECTRICAL SERVICES LIMITED

GSK ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05975945)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2022 TO 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GSK ELECTRICAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JUNE 2022 TO 31 MARCH 2023







DIRECTORS: S Kyte
M Handford





REGISTERED OFFICE: 4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU





REGISTERED NUMBER: 05975945 (England and Wales)






GSK ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05975945)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,332 48,773

CURRENT ASSETS
Debtors 5 929,914 626,633
Cash at bank and in hand 330 244,260
930,244 870,893
CREDITORS
Amounts falling due within one year 6 638,358 234,049
NET CURRENT ASSETS 291,886 636,844
TOTAL ASSETS LESS CURRENT
LIABILITIES

339,218

685,617

CREDITORS
Amounts falling due after more than one
year

7

22,500

30,840
NET ASSETS 316,718 654,777

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 316,628 654,687
SHAREHOLDERS' FUNDS 316,718 654,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GSK ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05975945)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:




M Handford - Director



S Kyte - Director


GSK ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05975945)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2022 TO 31 MARCH 2023


1. STATUTORY INFORMATION

GSK Electrical Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of services is recognised according to the stage of completion of the transaction when it can be estimated reliably.

Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

Bank loans are initially recognised at transaction price, which includes any transaction costs. They are subsequently measured at amortised cost using the effective interest method.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


GSK ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05975945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2022 TO 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 17 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 10,659 82,453 18,859 111,971
Additions 2,935 - 8,081 11,016
At 31 March 2023 13,594 82,453 26,940 122,987
DEPRECIATION
At 1 June 2022 9,259 43,452 10,487 63,198
Charge for period 904 8,125 3,428 12,457
At 31 March 2023 10,163 51,577 13,915 75,655
NET BOOK VALUE
At 31 March 2023 3,431 30,876 13,025 47,332
At 31 May 2022 1,400 39,001 8,372 48,773

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 762,014 447,132
Other debtors 162,847 177,388
924,861 624,520

GSK ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05975945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2022 TO 31 MARCH 2023


5. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 5,053 2,113

Aggregate amounts 929,914 626,633

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 97,584 10,000
Trade creditors 171,596 61,287
Taxation and social security 42,347 89,854
Other creditors 326,831 72,908
638,358 234,049

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 22,500 30,840

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 87,584 -

The bank overdraft is secured by a fixed and floating charge of the assets of the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 March 2023 and the year ended 31 May 2022:

2023 2022
£    £   
M Handford
Balance outstanding at start of period 382 -
Amounts advanced 2,555 16,650
Amounts repaid - (16,268 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 2,937 382

GSK ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05975945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2022 TO 31 MARCH 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S Kyte
Balance outstanding at start of period 905 -
Amounts advanced 4,287 17,219
Amounts repaid - (16,314 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 5,192 905

The loans do not bear interest, are not secured and have no repayment terms.