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REGISTERED NUMBER: 05696428 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

GURNEY ENVIRONMENTAL LIMITED

GURNEY ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 05696428)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GURNEY ENVIRONMENTAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J G Gillett
J G Gillett Jnr





SECRETARY: Mrs N G Gillett





REGISTERED OFFICE: 27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE





REGISTERED NUMBER: 05696428 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

GURNEY ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 05696428)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 645,481 594,538

CURRENT ASSETS
Stocks 242,522 150,415
Debtors 5 333,278 186,790
Cash at bank and in hand 228,860 1,080,593
804,660 1,417,798
CREDITORS
Amounts falling due within one year 6 195,434 441,815
NET CURRENT ASSETS 609,226 975,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,254,707

1,570,521

CREDITORS
Amounts falling due after more than one
year

7

(327,745

)

(351,724

)

PROVISIONS FOR LIABILITIES (26,250 ) (15,545 )
NET ASSETS 900,712 1,203,252

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 900,612 1,203,152
SHAREHOLDERS' FUNDS 900,712 1,203,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GURNEY ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 05696428)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





J G Gillett - Director


GURNEY ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 05696428)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Gurney Environmental Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

GURNEY ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 05696428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Long term contracts
Contracts with a value in excess of a certain amount are treated as long term contracts. Profit on these contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs, as contract activity progresses. Turnover is calculated at that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

All other contracts are treated as short term contracts and included in work in progress.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 581,641 32,744 126,191 26,891 767,467
Additions 5,954 63,652 - 7,455 77,061
At 31 March 2023 587,595 96,396 126,191 34,346 844,528
DEPRECIATION
At 1 April 2022 32,634 23,892 92,629 23,774 172,929
Charge for year 11,724 3,796 8,390 2,208 26,118
At 31 March 2023 44,358 27,688 101,019 25,982 199,047
NET BOOK VALUE
At 31 March 2023 543,237 68,708 25,172 8,364 645,481
At 31 March 2022 549,007 8,852 33,562 3,117 594,538

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 193,567 89,446
Other debtors 139,711 97,344
333,278 186,790

GURNEY ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 05696428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 26,073 20,007
Payments on account - 120,809
Trade creditors 85,509 124,014
Taxation and social security 18,691 136,534
Other creditors 65,161 40,451
195,434 441,815

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 327,745 351,724

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 212,987 261,204

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Mortgage 313,983 326,360

The mortgage is secured on the freehold property.

9. CAPITAL COMMITMENTS
31.3.23 31.3.22
£    £   
Contracted but not provided for in the
financial statements 5,561 -

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
J G Gillett
Balance outstanding at start of year 11,831 -
Amounts advanced 99,415 79,066
Amounts repaid (80,949 ) (67,235 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,297 11,831