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REGISTERED NUMBER: 03523894 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023

FOR

GCL BUILDING TECHNOLOGIES LTD

GCL BUILDING TECHNOLOGIES LTD (REGISTERED NUMBER: 03523894)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


GCL BUILDING TECHNOLOGIES LTD (REGISTERED NUMBER: 03523894)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 113,200 127,350
Tangible assets 6 181,780 183,390
294,980 310,740

CURRENT ASSETS
Debtors 7 1,490,525 1,932,979
Cash at bank 83,249 207,246
1,573,774 2,140,225
CREDITORS
Amounts falling due within one year 8 981,101 1,318,699
NET CURRENT ASSETS 592,673 821,526
TOTAL ASSETS LESS CURRENT
LIABILITIES

887,653

1,132,266

CREDITORS
Amounts falling due after more than
one year

9

(453,171

)

(703,040

)

PROVISIONS FOR LIABILITIES 11 (26,046 ) (31,475 )
NET ASSETS 408,436 397,751

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Retained earnings 407,436 396,751
SHAREHOLDERS' FUNDS 408,436 397,751

GCL BUILDING TECHNOLOGIES LTD (REGISTERED NUMBER: 03523894)

BALANCE SHEET - continued
31 MARCH 2023


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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:





Mr P P Cottrell - Director


GCL BUILDING TECHNOLOGIES LTD (REGISTERED NUMBER: 03523894)

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


1. STATUTORY INFORMATION

GCL Building Technologies Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03523894

Registered office: Pharmacy Chambers
High Street
Wadhurst
East Sussex
TN5 6AP

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
The lease premium is being amortised evenly over the lease term of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance
Equipment - 20% on cost

GCL BUILDING TECHNOLOGIES LTD (REGISTERED NUMBER: 03523894)

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


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


GCL BUILDING TECHNOLOGIES LTD (REGISTERED NUMBER: 03523894)

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


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 20 ) .

GCL BUILDING TECHNOLOGIES LTD (REGISTERED NUMBER: 03523894)

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


5. INTANGIBLE FIXED ASSETS
Lease
premium
£   
COST
At 1 April 2022
and 31 March 2023 141,500
AMORTISATION
At 1 April 2022 14,150
Amortisation for year 14,150
At 31 March 2023 28,300
NET BOOK VALUE
At 31 March 2023 113,200
At 31 March 2022 127,350

6. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Equipment Totals
£    £    £    £   
COST
At 1 April 2022 166,916 294,724 23,911 485,551
Additions 5,120 63,878 9,113 78,111
Disposals (5,997 ) (90,249 ) (14,871 ) (111,117 )
At 31 March 2023 166,039 268,353 18,153 452,545
DEPRECIATION
At 1 April 2022 129,871 160,395 11,895 302,161
Charge for year 13,951 46,718 5,706 66,375
Eliminated on disposal (3,341 ) (83,211 ) (11,219 ) (97,771 )
At 31 March 2023 140,481 123,902 6,382 270,765
NET BOOK VALUE
At 31 March 2023 25,558 144,451 11,771 181,780
At 31 March 2022 37,045 134,329 12,016 183,390

GCL BUILDING TECHNOLOGIES LTD (REGISTERED NUMBER: 03523894)

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


6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 130,645
Additions 63,878
At 31 March 2023 194,523
DEPRECIATION
At 1 April 2022 28,384
Charge for year 39,092
At 31 March 2023 67,476
NET BOOK VALUE
At 31 March 2023 127,047
At 31 March 2022 102,261

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 434,153 704,801
Amounts receivable on
contracts 199,868 238,684
Other debtors 810,787 939,632
Tax - 23,589
Prepayments 45,717 26,273
1,490,525 1,932,979

GCL BUILDING TECHNOLOGIES LTD (REGISTERED NUMBER: 03523894)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 60,000 83,605
Hire purchase contracts 33,210 28,102
Trade creditors 337,041 522,369
Corporation tax 60,539 56,884
PAYE and social security 40,577 33,136
VAT 32,652 101,280
Other creditors 391,052 453,795
Net wages 10,725 8,892
Pension control 1,400 2,097
Accrued expenses 13,905 28,539
981,101 1,318,699

The hire purchase creditor is secured upon the assets to which it relates.

The bank loans are secured by a fixed and floating charge over the assets of the company.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 60,000 86,065
Bank loans - 2-5 years 65,000 166,250
Hire purchase contracts 72,956 58,223
Other creditors 255,215 392,502
453,171 703,040

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 185,000 335,920
Hire purchase contracts 106,166 86,325
291,166 422,245

GCL BUILDING TECHNOLOGIES LTD (REGISTERED NUMBER: 03523894)

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


11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 26,046 31,475

Deferred
tax
£   
Balance at 1 April 2022 31,475
Accelerated capital allowances (5,429 )
Balance at 31 March 2023 26,046

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
92,500 Ordinary 1p 925 925
7,500 B Ordinary 1p 75 75
1,000 1,000

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mr P P Cottrell
Balance outstanding at start of year 757,875 655,459
Amounts advanced - 357,416
Amounts repaid (133,909 ) (255,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 623,966 757,875

Interest of £17,060 has been charged on amounts outstanding at the official rate approved by HMRC.

14. RELATED PARTY DISCLOSURES

Personal guarantees have been provided by a director to Lloyds Bank and IWOCA for amounts outstanding on the relevant loan/borrowing.