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Registration number: 03542401

GPH Systems Limited

Unaudited Financial Statements

for the Year Ended 30 April 2023

 

GPH Systems Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

GPH Systems Limited

Company Information

Directors

Mr G Habershon

Mrs V Habershon

Company secretary

Mrs V Habershon

Registered office

3 Nicholas Place
Rectory Lane
Stevenage
SG1 4BZ

 

GPH Systems Limited

(Registration number: 03542401)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,662

7,044

Current assets

 

Stocks

5

50,000

-

Debtors

6

133,519

54,593

Cash at bank and in hand

 

141,313

249,057

 

324,832

303,650

Creditors: Amounts falling due within one year

7

(117,840)

(70,424)

Net current assets

 

206,992

233,226

Total assets less current liabilities

 

214,654

240,270

Creditors: Amounts falling due after more than one year

7

(35,178)

(40,840)

Provisions for liabilities

(1,878)

(1,389)

Net assets

 

177,598

198,041

Capital and reserves

 

Called up share capital

100

100

Retained earnings

177,498

197,941

Shareholders' funds

 

177,598

198,041

 

GPH Systems Limited

(Registration number: 03542401)
Balance Sheet as at 30 April 2023

For the financial year ending 30 April 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 August 2023 and signed on its behalf by:
 


Mr G Habershon
Director

 

GPH Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Nicholas Place
Rectory Lane
Stevenage
SG1 4BZ

These financial statements were authorised for issue by the Board on 23 August 2023.

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

 

GPH Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

2

Accounting policies (continued)

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the busniess recognises costs which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Motor vehicles

25% Reducing balance

Furniture, fittings and equipment

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

GPH Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade debtors are reviewed for bad debts on an annual basis. Any adjustment is made accordingly through the profit and loss account.

Stocks

Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the work to its present location and condition.

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.

Trade creditors are recognised at the transaction price.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

GPH Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2022 - 11).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

13,626

19,627

33,253

Additions

2,838

-

2,838

At 30 April 2023

16,464

19,627

36,091

Depreciation

At 1 May 2022

8,547

17,662

26,209

Charge for the year

1,729

491

2,220

At 30 April 2023

10,276

18,153

28,429

Carrying amount

At 30 April 2023

6,188

1,474

7,662

At 30 April 2022

5,079

1,965

7,044

5

Stocks

2023
£

2022
£

Work in progress

50,000

-

 

GPH Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

118,782

40,336

Prepayments

14,741

14,257

Other debtors

(4)

-

 

133,519

54,593

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

5,693

5,559

Trade creditors

 

32,619

31,408

Taxation and social security

 

65,978

28,458

Accruals and deferred income

 

9,175

1,575

Other creditors

 

4,375

3,424

 

117,840

70,424

Details of any secured borrowings are included in Note 12 to these financial statements.

 

GPH Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

35,178

40,840

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

35,178

40,840

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,693

5,559

Also included within bank loans and overdrafts due under one year is £5,693 and over one year is £35,178 relating to a loan acquired under the Bounce Back Loan Scheme (BBLS) which is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy.

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

GPH Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

10

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £1,200.00 (2022 - £1,183.00) per ordinary share

 

120,000

 

118,300

         

11

Related party transactions

Transactions with directors

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr G Habershon

Directors loan account

(27)

128,673

(128,669)

(23)

         
       

 

2022

At 1 May 2021
£

Advances to director
£

Repayments by director
£

At 30 April 2022
£

Mr G Habershon

Directors loan account

(4,783)

130,916

(126,160)

(27)

         
       

 

This loan is provided interest free and is repayable on demand.

12

Ultimate controlling party

The company was controlled throughout the year by Mr G Habershon, the director and majority shareholder.