GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Company Registration Number:
12019613 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2023

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Contents of the Financial Statements

for the Period Ended 31 May 2023

Balance sheet
Notes

GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Balance sheet

As at 31 May 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 2,400 4,800
Tangible assets: 4 209,993 210,524
Total fixed assets: 212,393 215,324
Current assets
Debtors:   111,985 100,811
Cash at bank and in hand: 89,239 16,843
Total current assets: 201,224 117,654
Creditors: amounts falling due within one year: 5 (150,168) (72,912)
Net current assets (liabilities): 51,056 44,742
Total assets less current liabilities: 263,449 260,066
Creditors: amounts falling due after more than one year: 6 (125,819) (175,243)
Total net assets (liabilities): 137,630 84,823
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 137,629 84,822
Shareholders funds: 137,630 84,823

The notes form part of these financial statements

GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Balance sheet statements

For the year ending 31 May 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 14 November 2023
and signed on behalf of the board by:

Name: Mr P A Bland
Status: Director

The notes form part of these financial statements

GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc 20% on reducing balance

Intangible fixed assets and amortisation policy

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other accounting policies

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

2. Employees

2023 2022
Average number of employees during the period 9 6

GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Intangible Assets

Total
Cost £
At 01 June 2022 12,000
At 31 May 2023 12,000
Amortisation
At 01 June 2022 7,200
Charge for year 2,400
At 31 May 2023 9,600
Net book value
At 31 May 2023 2,400
At 31 May 2022 4,800

GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Tangible Assets

Total
Cost £
At 01 June 2022 335,617
Additions 51,967
At 31 May 2023 387,584
Depreciation
At 01 June 2022 125,093
Charge for year 52,498
At 31 May 2023 177,591
Net book value
At 31 May 2023 209,993
At 31 May 2022 210,524

GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

5. Creditors: amounts falling due within one year note

Hire Purchase Contracts £79,590Taxation and Social Security £68,688Other Creditors £1,890

GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

6. Creditors: amounts falling due after more than one year note

Hire Purchase Contracts £125,819