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Registration number: 08414883

Gattzbee Plumbing & Heating Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Gattzbee Plumbing & Heating Limited

(Registration number: 08414883)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,616

835

Current assets

 

Stocks

5

1,750

1,750

Debtors

6

19,654

19,355

Cash at bank and in hand

 

13,845

5,781

 

35,249

26,886

Creditors: Amounts falling due within one year

7

(34,412)

(30,556)

Net current assets/(liabilities)

 

837

(3,670)

Total assets less current liabilities

 

2,453

(2,835)

Creditors: Amounts falling due after more than one year

7

(1,509)

-

Provisions for liabilities

(307)

(167)

Net assets/(liabilities)

 

637

(3,002)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

537

(3,102)

Shareholders' funds/(deficit)

 

637

(3,002)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 November 2023
 

.........................................
Jonathan Gatt
Director

 

Gattzbee Plumbing & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 Wren Way
Mickleover
Derby
DE3 0UF

The principal place of business is:
5 Wren Way
Mickleover
Derby
DE3 0UF

These financial statements were authorised for issue by the director on 28 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Gattzbee Plumbing & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% straight line

Plant and machinery

20% straight line

Office equipment

20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Gattzbee Plumbing & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

11,401

27,625

39,026

Additions

1,297

-

1,297

At 28 February 2023

12,698

27,625

40,323

Depreciation

At 1 March 2022

10,567

27,625

38,192

Charge for the year

515

-

515

At 28 February 2023

11,082

27,625

38,707

Carrying amount

At 28 February 2023

1,616

-

1,616

At 28 February 2022

835

-

835

5

Stocks

2023
£

2022
£

Work in progress

1,500

1,500

Other inventories

250

250

1,750

1,750

6

debtors

Current

2023
£

2022
£

Trade debtors

19,654

17,153

Other debtors

-

2,202

 

19,654

19,355

7

Creditors

Creditors: amounts falling due within one year

 

Gattzbee Plumbing & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

480

-

Trade creditors

 

10,979

4,629

Taxation and social security

 

1,710

2,324

Accruals and deferred income

 

473

470

Other creditors

 

20,770

23,133

 

34,412

30,556

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

1,509

-

2023
£

2022
£

Current loans and borrowings

Bank borrowings

480

-

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary £1 share of £1 each

100

100

100

100