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REGISTERED NUMBER: 06215740 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

G.G.C. VALVES LTD

G.G.C. VALVES LTD (REGISTERED NUMBER: 06215740)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


G.G.C. VALVES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: D J Cattliff





SECRETARY: Hardcastle Burton





REGISTERED OFFICE: 90 High Street
Newmarket
Suffolk
CB8 8FE





REGISTERED NUMBER: 06215740 (England and Wales)





ACCOUNTANTS: Hardcastle Burton (Newmarket) Limited
Chartered Certified Accountants
90 High Street
Newmarket
Suffolk
CB8 8FE

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
G.G.C. VALVES LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G.G.C. Valves Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of G.G.C. Valves Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G.G.C. Valves Ltd and state those matters that we have agreed to state to the director of G.G.C. Valves Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that G.G.C. Valves Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G.G.C. Valves Ltd. You consider that G.G.C. Valves Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G.G.C. Valves Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hardcastle Burton (Newmarket) Limited
Chartered Certified Accountants
90 High Street
Newmarket
Suffolk
CB8 8FE


14 November 2023

G.G.C. VALVES LTD (REGISTERED NUMBER: 06215740)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,350 24,453

CURRENT ASSETS
Stocks 780,420 697,460
Debtors 5 509,637 434,527
Cash at bank 419,279 292,964
1,709,336 1,424,951
CREDITORS
Amounts falling due within one year 6 530,112 450,329
NET CURRENT ASSETS 1,179,224 974,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,197,574

999,075

PROVISIONS FOR LIABILITIES 3,486 4,646
NET ASSETS 1,194,088 994,429

CAPITAL AND RESERVES
Called up share capital 82 82
Retained earnings 7 1,194,006 994,347
SHAREHOLDERS' FUNDS 1,194,088 994,429

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

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

The director acknowledges his 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.

G.G.C. VALVES LTD (REGISTERED NUMBER: 06215740)

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 director and authorised for issue on 14 November 2023 and were signed by:





D J Cattliff - Director


G.G.C. VALVES LTD (REGISTERED NUMBER: 06215740)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

G.G.C. Valves Ltd 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.

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.

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
Fixtures and fittings - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign transactions
Foreign transactions are translated at the rate of exchange appropriate to the date of transaction. Foreign currency balances at the balance sheet date are translated at the rate of exchange for that date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

G.G.C. VALVES LTD (REGISTERED NUMBER: 06215740)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 32,280 53,771 25,426 111,477
Additions - - 416 416
At 31 March 2023 32,280 53,771 25,842 111,893
DEPRECIATION
At 1 April 2022 28,050 34,613 24,361 87,024
Charge for year 1,058 4,790 671 6,519
At 31 March 2023 29,108 39,403 25,032 93,543
NET BOOK VALUE
At 31 March 2023 3,172 14,368 810 18,350
At 31 March 2022 4,230 19,158 1,065 24,453

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 484,505 411,095
Other debtors 25,132 23,432
509,637 434,527

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 379,682 314,836
Taxation and social security 145,637 110,247
Other creditors 4,793 25,246
530,112 450,329

7. RESERVES
Retained
earnings
£   

At 1 April 2022 994,347
Profit for the year 399,659
Dividends (200,000 )
At 31 March 2023 1,194,006

G.G.C. VALVES LTD (REGISTERED NUMBER: 06215740)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. EXPORTS

Of turnover 46% (2022 46%) was exported outside the UK, 26% (2022 23%) within the EU and 20% (2022 23%) to other countries.