Company Registration No. 04634960 (England and Wales)
G & O ENGINEERS LIMITED
Unaudited accounts
for the year ended 28 February 2023
G & O ENGINEERS LIMITED
Unaudited accounts
Contents
G & O ENGINEERS LIMITED
Company Information
for the year ended 28 February 2023
Company Number
04634960 (England and Wales)
Registered Office
1 Cotswold Business Park
Range Court, Range Road
WITNEY
Oxfordshire
OX29 0YB
Accountants
RM Whitehouse & Co Ltd
Spring Bank
Shipton Road
Milton under Wychwood
Oxfordshire
OX7 6JS
G & O ENGINEERS LIMITED
Statement of financial position
as at 28 February 2023
Tangible assets
20,637
29,372
Cash at bank and in hand
114,803
88,284
Creditors: amounts falling due within one year
(205,018)
(197,139)
Net current assets
89,000
23,504
Total assets less current liabilities
109,637
52,876
Creditors: amounts falling due after more than one year
(24,167)
(34,167)
Provisions for liabilities
Deferred tax
(4,128)
(5,875)
Called up share capital
5
5
Profit and loss account
81,337
12,829
Shareholders' funds
81,342
12,834
For the year ending 28 February 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 September 2023 and were signed on its behalf by
Mr Scott WILLS
Director
Company Registration No. 04634960
G & O ENGINEERS LIMITED
Notes to the Accounts
for the year ended 28 February 2023
G & O ENGINEERS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04634960. The registered office is 1 Cotswold Business Park, Range Court, Range Road, WITNEY, Oxfordshire, OX29 0YB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Computer equipment
25% Reducing balance
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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 accounts. 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 current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
G & O ENGINEERS LIMITED
Notes to the Accounts
for the year ended 28 February 2023
4
Intangible fixed assets
Goodwill
At 28 February 2023
30,000
At 28 February 2023
30,000
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2022
131,445
12,299
15,178
158,922
Disposals
(32,224)
-
-
(32,224)
At 28 February 2023
99,221
12,299
15,178
126,698
At 1 March 2022
103,465
12,199
13,886
129,550
Charge for the year
6,533
25
325
6,883
On disposals
(30,372)
-
-
(30,372)
At 28 February 2023
79,626
12,224
14,211
106,061
At 28 February 2023
19,595
75
967
20,637
At 28 February 2022
27,980
100
1,292
29,372
Amounts falling due within one year
Trade debtors
106,602
62,993
Other debtors
33,819
30,497
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
-
1,342
Trade creditors
90,000
94,935
Taxes and social security
77,841
68,937
Other creditors
25,827
20,575
G & O ENGINEERS LIMITED
Notes to the Accounts
for the year ended 28 February 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
4 Ordinary A shares of £1 each
4
4
1 Ordinary B shares of £1 each
1
1
10
Average number of employees
During the year the average number of employees was 13 (2022: 13).