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Registered Number: 11150901
England and Wales

 

 

 

GP GLASS AND LOCKS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Report to the directors on the preparation of the unaudited statutory accounts of GP Glass and Locks Limited for the year ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GP Glass and Locks Limited for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/

This report is made solely to the Board of Directors of GP Glass and Locks Limited, as a body, in accordance with the terms of our engagement letter dated 11 April 2023 Our work has been undertaken solely to prepare for your approval the accounts of GP Glass and Locks Limited and state those matters that we have agreed to state to the Board of Directors of GP Glass and Locks Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GP Glass and Locks Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that GP Glass and Locks Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of GP Glass and Locks Limited. You consider that GP Glass and Locks Limited is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of GP Glass and Locks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 January 2024



....................................................
Bharat D Hathi Ltd
Portsmouth Technopole
Kingston Crescent
Portsmouth
Hampshire
PO2 8FA
08 March 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 6,000    7,500 
Tangible fixed assets 4 2,524    3,140 
8,524    10,640 
Current assets      
Stocks 1,000    1,000 
Debtors 6,978    14,826 
Cash at bank and in hand 4,566    9,195 
12,544    25,021 
Creditors: amount falling due within one year (40,686)   (41,765)
Net current liabilities (28,142)   (16,744)
 
Total assets less current liabilities (19,618)   (6,104)
Net liabilities (19,618)   (6,104)
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account (19,718)   (6,204)
Shareholder's funds (19,618)   (6,104)
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 08 March 2024 and were signed by:


-------------------------------
Graham Price
Director
2
General Information
GP Glass and Locks Limited is a private company, limited by shares, registered in England and Wales, registration number 11150901, registration address 51 Whitecliffe Avenue, PO3 6HZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25%` Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 February 2023 15,000    15,000 
Additions  
Disposals  
At 31 January 2024 15,000    15,000 
Amortisation
At 01 February 2023 7,500    7,500 
Charge for year 1,500    1,500 
On disposals  
At 31 January 2024 9,000    9,000 
Net book values
At 31 January 2024 6,000    6,000 
At 31 January 2023 7,500    7,500 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 February 2023   5,800    5,800 
Additions 1,082      1,082 
Disposals    
At 31 January 2024 1,082    5,800    6,882 
Depreciation
At 01 February 2023   2,660    2,660 
Charge for year 248    1,450    1,698 
On disposals    
At 31 January 2024 248    4,110    4,358 
Net book values
Closing balance as at 31 January 2024 834    1,690    2,524 
Opening balance as at 01 February 2023   3,140    3,140 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3