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Company registration number: 04175716
G D Laser Limited
Unaudited filleted financial statements
31 March 2023
G D Laser Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
G D Laser Limited
Directors and other information
Directors G A Hewlett
D L Haisman
Secretary D L Haisman
Company number 04175716
Registered office Unit 5 Soho Mills Industrial Estate
Wooburn Green
Bucks
HP10 0PF
Accountants Pink Affinity Limited
G D Laser Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of G D Laser Limited
Year ended 31 March 2023
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 D Laser Limited for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of G D Laser Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of G D Laser Limited and state those matters that we have agreed to state to the board of directors of G D Laser Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G D Laser Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that G D Laser Limited 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 D Laser Limited. You consider that G D Laser Limited 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 D Laser Limited. 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.
Pink Affinity Limited
2 November 2023
G D Laser Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 270,896 274,098
_______ _______
270,896 274,098
Current assets
Stocks 1,500 1,250
Debtors 6 152,360 178,498
Cash at bank and in hand 755,315 698,604
_______ _______
909,175 878,352
Creditors: amounts falling due
within one year 7 ( 102,813) ( 137,102)
_______ _______
Net current assets 806,362 741,250
_______ _______
Total assets less current liabilities 1,077,258 1,015,348
Provisions for liabilities 860 474
Accruals and deferred income ( 9,210) ( 38,107)
_______ _______
Net assets 1,068,908 977,715
_______ _______
Capital and reserves
Called up share capital 126 126
Profit and loss account 1,068,782 977,589
_______ _______
Shareholders funds 1,068,908 977,715
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 November 2023 , and are signed on behalf of the board by:
G A Hewlett
Director
Company registration number: 04175716
G D Laser Limited
Notes to the financial statements
Year ended 31 March 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 Unit 5 Soho Mills Industrial Estate, Wooburn Green, Bucks, HP10 0PF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, and are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and 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 the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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 and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
Government grants
Government grants are recognised using the accrual model and the performance model.
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.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 April 2022 270,098 299,842 20,099 23,524 613,563
Disposals - ( 288,371) ( 17,572) ( 3,059) ( 309,002)
_______ _______ _______ _______ _______
At 31 March 2023 270,098 11,471 2,527 20,465 304,561
_______ _______ _______ _______ _______
Depreciation
At 1 April 2022 - 296,853 19,090 23,522 339,465
Charge for the year - 98 505 - 603
Disposals - ( 285,772) ( 17,572) ( 3,059) ( 306,403)
_______ _______ _______ _______ _______
At 31 March 2023 - 11,179 2,023 20,463 33,665
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2023 270,098 292 504 2 270,896
_______ _______ _______ _______ _______
At 31 March 2022 270,098 2,989 1,009 2 274,098
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 137,312 163,801
Other debtors 15,048 14,697
_______ _______
152,360 178,498
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 28,381 28,722
Corporation tax 36,883 38,619
Social security and other taxes 24,004 46,992
Other creditors 13,545 22,769
_______ _______
102,813 137,102
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
G A Hewlett ( 22,769) 9,224 ( 13,545)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
G A Hewlett ( 29,812) 7,043 ( 22,769)
_______ _______ _______