Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mr E J Staddon 30/04/2021 Mr G K Staddon 15/04/2003 Mr A J Woodhouse 06/10/2022 21/05/2019 20 November 2023 The principal activity of the Company during the financial year was the servicing of automobiles. 04735018 2023-04-30 04735018 bus:Director1 2023-04-30 04735018 bus:Director2 2023-04-30 04735018 bus:Director3 2023-04-30 04735018 2022-04-30 04735018 core:CurrentFinancialInstruments 2023-04-30 04735018 core:CurrentFinancialInstruments 2022-04-30 04735018 core:Non-currentFinancialInstruments 2023-04-30 04735018 core:Non-currentFinancialInstruments 2022-04-30 04735018 core:ShareCapital 2023-04-30 04735018 core:ShareCapital 2022-04-30 04735018 core:RetainedEarningsAccumulatedLosses 2023-04-30 04735018 core:RetainedEarningsAccumulatedLosses 2022-04-30 04735018 core:LandBuildings 2022-04-30 04735018 core:OtherPropertyPlantEquipment 2022-04-30 04735018 core:LandBuildings 2023-04-30 04735018 core:OtherPropertyPlantEquipment 2023-04-30 04735018 bus:OrdinaryShareClass1 2023-04-30 04735018 bus:OrdinaryShareClass2 2023-04-30 04735018 2022-05-01 2023-04-30 04735018 bus:FullAccounts 2022-05-01 2023-04-30 04735018 bus:SmallEntities 2022-05-01 2023-04-30 04735018 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 04735018 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 04735018 bus:Director1 2022-05-01 2023-04-30 04735018 bus:Director2 2022-05-01 2023-04-30 04735018 bus:Director3 2022-05-01 2023-04-30 04735018 core:LandBuildings core:TopRangeValue 2022-05-01 2023-04-30 04735018 core:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 04735018 2021-05-01 2022-04-30 04735018 core:LandBuildings 2022-05-01 2023-04-30 04735018 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 04735018 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 04735018 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 04735018 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 04735018 bus:OrdinaryShareClass2 2021-05-01 2022-04-30 04735018 1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04735018 (England and Wales)

GKS SERVICE CENTRE LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

GKS SERVICE CENTRE LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

GKS SERVICE CENTRE LIMITED

BALANCE SHEET

As at 30 April 2023
GKS SERVICE CENTRE LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 24,405 29,636
24,405 29,636
Current assets
Stocks 1,972 3,424
Debtors 4 37,809 80,024
Cash at bank and in hand 83,988 81,142
123,769 164,590
Creditors: amounts falling due within one year 5 ( 54,622) ( 90,351)
Net current assets 69,147 74,239
Total assets less current liabilities 93,552 103,875
Creditors: amounts falling due after more than one year 6 ( 29,923) ( 39,690)
Provision for liabilities ( 4,702) ( 5,438)
Net assets 58,927 58,747
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 58,827 58,647
Total shareholders' funds 58,927 58,747

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 financial statements of GKS Service Centre Limited (registered number: 04735018) were approved and authorised for issue by the Board of Directors on 20 November 2023. They were signed on its behalf by:

Mr E J Staddon
Director
GKS SERVICE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
GKS SERVICE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

GKS Service Centre Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.
The principal place of business is: Unit 15, Filham Industrial Estate, , Blair Road, Ivybridge. Devon PL21 0UR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 May 2022 12,373 104,018 116,391
Additions 0 4,834 4,834
Disposals 0 ( 2,000) ( 2,000)
At 30 April 2023 12,373 106,852 119,225
Accumulated depreciation
At 01 May 2022 8,748 78,007 86,755
Charge for the financial year 454 8,486 8,940
Disposals 0 ( 875) ( 875)
At 30 April 2023 9,202 85,618 94,820
Net book value
At 30 April 2023 3,171 21,234 24,405
At 30 April 2022 3,625 26,011 29,636

4. Debtors

2023 2022
£ £
Trade debtors 32,500 76,413
Other debtors 5,309 3,611
37,809 80,024

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,768 9,527
Trade creditors 20,433 43,484
Amounts owed to Group undertakings 6,826 6,826
Taxation and social security 10,111 19,956
Other creditors 7,484 10,558
54,622 90,351

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

2023 2022
£ £
Bank loans 29,923 39,690

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
49 Ordinary A shares of £ 1.00 each 49 49
51 Ordinary shares of £ 1.00 each 51 51
100 100

8. Ultimate controlling party

Parent Company:

The company's immediate parent is GKS of Ivybridge Limited, incorporated in England and Wales.

These financial statements are available upon request from Companies House