Registered number
10672605
Geco Fire Systems Limited
Filleted Accounts
31 March 2023
Geco Fire Systems Limited
Registered number: 10672605
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 6,440 8,580
Current assets
Debtors 5 21,548 25,098
Cash at bank and in hand 1,325 -
22,873 25,098
Creditors: amounts falling due within one year 6 (21,352) (22,121)
Net current assets 1,521 2,977
Total assets less current liabilities 7,961 11,557
Creditors: amounts falling due after more than one year 7 (7,800) (11,400)
Net assets 161 157
Capital and reserves
Called up share capital 100 100
Profit and loss account 61 57
Shareholders' funds 161 157
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S D Cooper
Director
Approved by the board on 21 August 2023
Geco Fire Systems Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Goodwill is amortised on a straight line basis over 5 years.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Computer equipment 33% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 20,000
At 31 March 2023 20,000
Amortisation
At 1 April 2022 20,000
At 31 March 2023 20,000
Net book value
At 31 March 2023 -
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 772 20,342 21,114
At 31 March 2023 772 20,342 21,114
Depreciation
At 1 April 2022 772 11,762 12,534
Charge for the year - 2,140 2,140
At 31 March 2023 772 13,902 14,674
Net book value
At 31 March 2023 - 6,440 6,440
At 31 March 2022 - 8,580 8,580
5 Debtors 2023 2022
£ £
Trade debtors 12,140 -
Other debtors 9,408 25,098
21,548 25,098
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,600 8,569
Obligations under finance lease and hire purchase contracts - 3,395
Other taxes and social security costs 17,242 9,719
Other creditors 510 438
21,352 22,121
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 7,800 11,400
8 Loans to directors
Interest free loan B/fwd Paid Repaid C/fwd
£ £ £ £
G M Cooper 9,653 - (7,845) 1,808
S D Cooper 9,654 - (7,845) 1,809
19,307 - (15,690) 3,617
9 Other information
Geco Fire Systems Limited is a private company limited by shares and incorporated in England. Its registered office is:
6A Little Aston Lane
Little Aston
Sutton Coldfield
B74 3UF
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