Registered number
09602621
Garstons Facilities Management Limited
Filleted Accounts
31 May 2023
Garstons Facilities Management Limited
Registered number: 09602621
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 33,622 53,690
Current assets
Debtors 4 168,306 116,280
Cash at bank and in hand 58,749 12,149
227,055 128,429
Creditors: amounts falling due within one year 5 (260,107) (210,345)
Net current liabilities (33,052) (81,916)
Net assets/(liabilities) 570 (28,226)
Capital and reserves
Called up share capital 100 100
Profit and loss account 470 (28,326)
Shareholders' funds 570 (28,226)
The director is 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 director acknowledges his 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.
L Trott
Director
Approved by the board on 23 February 2024
Garstons Facilities Management Limited
Notes to the Accounts
for the year ended 31 May 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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 12
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 13,438 89,151 102,589
Additions 320 2,945 3,265
At 31 May 2023 13,758 87,596 101,354
Depreciation
At 1 June 2022 8,236 40,663 48,899
Charge for the year 2,126 18,957 21,083
On disposals - (2,250) (2,250)
At 31 May 2023 10,362 57,370 67,732
Net book value
At 31 May 2023 3,396 30,226 33,622
At 31 May 2022 5,202 48,488 53,690
4 Debtors 2023 2022
£ £
Trade debtors 125,902 115,213
Other debtors 42,404 1,067
168,306 116,280
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 59,569 85,481
Taxation and social security costs 199,744 124,864
Other creditors 794 -
260,107 210,345
6 Other information
Garstons Facilities Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit B, Cannards Grave
Shepton Mallet
BA4 4LY
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