Company registration number 14426386 (England and Wales)
GM EQUIPMENT SERVICES LIMITED
ABRIDGED ACCOUNTS
FOR THE PERIOD 18 OCTOBER 2022 TO 31 OCTOBER 2023
GM EQUIPMENT SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
GM EQUIPMENT SERVICES LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2023
31 October 2023
- 1 -
2023
Notes
£
£
Current assets
Stocks
4,000
Debtors
4
11,234
Cash at bank and in hand
16,209
31,443
Creditors: amounts falling due within one year
5
(18,528)
Net current assets
12,915
Capital and reserves
Called up share capital
1
Profit and loss reserves
12,914
Total equity
12,915
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 8 April 2024
Mr Grant Ian McGregor
Director
Company registration number 14426386 (England and Wales)
GM EQUIPMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information
GM Equipment Services Limited is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.4
Taxation
The tax expense represents corporation tax currently payable on the profits of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
1
3
Taxation
2023
£
Current tax
UK corporation tax on profits for the current period
9,237
GM EQUIPMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2023
- 3 -
4
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
132
Other debtors
11,102
11,234
5
Creditors: amounts falling due within one year
2023
£
Trade creditors
18
Corporation tax
9,237
Director's current account
6,833
Accruals
2,440
18,528