IRIS Accounts Production v23.4.0.336 04284719 Board of Directors 1.10.22 30.9.23 30.9.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh042847192022-09-30042847192023-09-30042847192022-10-012023-09-30042847192021-09-30042847192021-10-012022-09-30042847192022-09-3004284719ns15:EnglandWales2022-10-012023-09-3004284719ns14:PoundSterling2022-10-012023-09-3004284719ns10:Director12022-10-012023-09-3004284719ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3004284719ns10:SmallEntities2022-10-012023-09-3004284719ns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3004284719ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3004284719ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-3004284719ns10:FullAccounts2022-10-012023-09-300428471912022-10-012023-09-3004284719ns10:Director22022-10-012023-09-3004284719ns10:CompanySecretary12022-10-012023-09-3004284719ns10:RegisteredOffice2022-10-012023-09-3004284719ns5:CurrentFinancialInstruments2023-09-3004284719ns5:CurrentFinancialInstruments2022-09-3004284719ns5:ShareCapital2023-09-3004284719ns5:ShareCapital2022-09-3004284719ns5:RetainedEarningsAccumulatedLosses2023-09-3004284719ns5:RetainedEarningsAccumulatedLosses2022-09-3004284719ns5:NetGoodwill2022-10-012023-09-3004284719ns5:IntangibleAssetsOtherThanGoodwill2022-10-012023-09-3004284719ns5:PlantMachinery2022-10-012023-09-3004284719ns5:NetGoodwill2022-09-3004284719ns5:NetGoodwill2023-09-3004284719ns5:NetGoodwill2022-09-3004284719ns5:PlantMachinery2022-09-3004284719ns5:PlantMachinery2023-09-3004284719ns5:PlantMachinery2022-09-3004284719ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3004284719ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-30
REGISTERED NUMBER: 04284719 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

G F G PLASTIC FABRICATIONS LIMITED

G F G PLASTIC FABRICATIONS LIMITED (REGISTERED NUMBER: 04284719)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G F G PLASTIC FABRICATIONS LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2023







DIRECTORS: N J Gray
P F Gray





SECRETARY: N J Gray





REGISTERED OFFICE: Bridge Works
101 West Dock Street
Hessle Road
Hull
HU3 4HH





REGISTERED NUMBER: 04284719 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

G F G PLASTIC FABRICATIONS LIMITED (REGISTERED NUMBER: 04284719)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,557 6,231
6,557 6,231

CURRENT ASSETS
Stocks 49,355 60,600
Debtors 6 98,462 52,892
Cash at bank 44,624 82,140
192,441 195,632
CREDITORS
Amounts falling due within one year 7 60,865 45,219
NET CURRENT ASSETS 131,576 150,413
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,133

156,644

PROVISIONS FOR LIABILITIES 1,246 1,184
NET ASSETS 136,887 155,460

CAPITAL AND RESERVES
Called up share capital 40,003 40,003
Retained earnings 96,884 115,457
SHAREHOLDERS' FUNDS 136,887 155,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

G F G PLASTIC FABRICATIONS LIMITED (REGISTERED NUMBER: 04284719)

BALANCE SHEET - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:





N J Gray - Director


G F G PLASTIC FABRICATIONS LIMITED (REGISTERED NUMBER: 04284719)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023


1. STATUTORY INFORMATION

G F G Plastic Fabrications Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Bridge Works, 101 West Dock Street, Hessle Road, Hull, HU3 4HH.

The principal activity of the company is manufacturing plastic products.

The presentational currency of the financial statements is 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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accountancy is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Goodwill
Goodwill arising on the acquisition of a business in 2002 was being amortised over its estimated useful life of 20 years. At the date of transition to FRS 102, and in accordance with the standard, the remaining net book value of goodwill is being amortised over 6 years; a period that, in the opinion of the directors, represents its remaining useful life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


G F G PLASTIC FABRICATIONS LIMITED (REGISTERED NUMBER: 04284719)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company offers stakeholder pension facilities to employees. Payments are made to the personal pension arrangements of directors with contributions payable for the period charged in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 20,000
AMORTISATION
At 1 October 2022
and 30 September 2023 20,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

G F G PLASTIC FABRICATIONS LIMITED (REGISTERED NUMBER: 04284719)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 50,867
Additions 2,770
At 30 September 2023 53,637
DEPRECIATION
At 1 October 2022 44,636
Charge for year 2,444
At 30 September 2023 47,080
NET BOOK VALUE
At 30 September 2023 6,557
At 30 September 2022 6,231

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 86,962 43,053
Other debtors 11,500 9,839
98,462 52,892

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 24,692 13,999
Taxation and social security 30,589 23,944
Other creditors 5,584 7,276
60,865 45,219

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed its director N J Gray £768 (2022: £965). The loan is free from interest and repayable on demand.