4 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 19,570 16,087 871 16,958 2,612 3,483 xbrli:pure xbrli:shares iso4217:GBP 06624980 2022-09-01 2023-08-31 06624980 2023-08-31 06624980 2022-08-31 06624980 2021-09-01 2022-08-31 06624980 2022-08-31 06624980 2021-08-31 06624980 core:PlantMachinery 2022-09-01 2023-08-31 06624980 core:MotorVehicles 2022-09-01 2023-08-31 06624980 bus:Director4 2022-09-01 2023-08-31 06624980 core:MotorVehicles 2022-08-31 06624980 core:MotorVehicles 2023-08-31 06624980 core:WithinOneYear 2023-08-31 06624980 core:WithinOneYear 2022-08-31 06624980 core:ShareCapital 2023-08-31 06624980 core:ShareCapital 2022-08-31 06624980 core:RetainedEarningsAccumulatedLosses 2023-08-31 06624980 core:RetainedEarningsAccumulatedLosses 2022-08-31 06624980 core:MotorVehicles 2022-08-31 06624980 bus:SmallEntities 2022-09-01 2023-08-31 06624980 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 06624980 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 06624980 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06624980 bus:FullAccounts 2022-09-01 2023-08-31
COMPANY REGISTRATION NUMBER: 06624980
Compressed Gas Solutions Limited
Filleted Unaudited Financial Statements
31 August 2023
Compressed Gas Solutions Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,612
3,483
Current assets
Stocks
119,910
175,719
Debtors
6
307,371
386,928
Cash at bank and in hand
522,499
536,770
---------
------------
949,780
1,099,417
Creditors: amounts falling due within one year
7
342,039
365,165
---------
------------
Net current assets
607,741
734,252
---------
---------
Total assets less current liabilities
610,353
737,735
Provisions
Taxation including deferred tax
653
662
---------
---------
Net assets
609,700
737,073
---------
---------
Capital and reserves
Called up share capital
300
300
Profit and loss account
609,400
736,773
---------
---------
Shareholders funds
609,700
737,073
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Compressed Gas Solutions Limited
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 13 November 2023 , and are signed on behalf of the board by:
Ms E A Hughes
Director
Company registration number: 06624980
Compressed Gas Solutions Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Reid Trading Estate, Factory Road, Deeside, Flintshire, CH5 2QJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
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
The turnover shown in the profit and loss account represents amounts invoiced during the year for the provision of gas company consultancy and associated services, exclusive of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Motor vehicles
Total
£
£
Cost
At 1 September 2022 and 31 August 2023
19,570
19,570
--------
--------
Depreciation
At 1 September 2022
16,087
16,087
Charge for the year
871
871
--------
--------
At 31 August 2023
16,958
16,958
--------
--------
Carrying amount
At 31 August 2023
2,612
2,612
--------
--------
At 31 August 2022
3,483
3,483
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
296,037
376,842
Other debtors
11,334
10,086
---------
---------
307,371
386,928
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
272,431
322,705
Social security and other taxes
68,210
41,250
Other creditors
1,398
1,210
---------
---------
342,039
365,165
---------
---------
8. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed.