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REGISTERED NUMBER: 02976617 (England and Wales)






























STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

UK GAS SERVICES LIMITED

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

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










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


UK GAS SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Mr AK Newton


REGISTERED OFFICE: 13 Leicester Road
Groby
Leicestershire
LE6 0DQ


REGISTERED NUMBER: 02976617 (England and Wales)


SENIOR STATUTORY AUDITOR: Westleigh Scales FCA


AUDITORS: Mark J Rees LLP Chartered Accountants
and Statutory Auditors
Granville Hall
Granville Road
Leicester
LE1 7RU


BANKERS: Royal Bank of Scotland
36 St. Andrew Square
Edinburgh
EH2 2YB

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023


The director presents his strategic report for the year ended 31 July 2023.

UK Gas Services Limited is an established business that started in October 1994. The company has since grown to become a leading business in boilers, plumbing, heating and related domestic services.

REVIEW OF BUSINESS
The results for the year and financial position of the group are as shown in the annexed financial statements.

Performance of the business and Outlook

Turnover has increased by £1.9m (22.51%) on 2022, in line with budgeted figures, with gross profit margin staying constant. Turnover has increased with additional contracts and the increase of sales prices to mitigate increases in costs.

Our KPI's for the year show how much we have achieved this year:


KPI's £    2023 2022

Turnover 10,322 8,426
Gross Profit % 24.95 25.22
Operating Profit 536 494
Operating Profit % 5.19 5.86
Net Profit/(Loss) 422 389
Net Assets 4,080 3,658

PRINCIPAL RISKS AND UNCERTAINTIES
The company manages liquidity risk by ensuring that there are sufficient funds to meet amounts due to trade creditors and loan repayments. Trade debtors are managed in respect of credit and cash flow risk by regular monitoring of amounts outstanding in terms of time and credit limits.

Our experienced management team and financial position enable us to be well positioned to continue the successful growth and development of the company. The directors are responsible for the maintenance of the company's website https://www.ukgasservices.co.uk.

ON BEHALF OF THE BOARD:





Mr AK Newton - Director


16 February 2024

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 JULY 2023


The director presents his report with the financial statements of the company for the year ended 31 July 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 July 2023.

DIRECTOR
Mr AK Newton held office during the whole of the period from 1 August 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Mark J Rees LLP Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr AK Newton - Director


16 February 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UK GAS SERVICES LIMITED


Opinion
We have audited the financial statements of UK Gas Services Limited (the 'company') for the year ended 31 July 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 July 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UK GAS SERVICES LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

We have determined that the principal risk areas where material irregularities could occur were related to the posting of manual journal entries to manipulate financial performance, revenue recognition, significant one-off or unusual transactions and going concern.

Our audit procedures were designed to respond in particular to these identified risks (including non compliance with laws and regulations and fraud).

Our audit procedures included but were not limited to:
- A review of a sample of both private and contracted sales in the year to ensure these were correctly recorded in revenue and detailed cut off testing around the year end to ensure revenue is correctly stated.
- A review of a sample of sales accruals to ensure their accuracy and reasonableness.
- A review of the relevant certifications and accreditations to ensure that the company is certified as required for carrying out their work in line with industry standards.
- Addressing the risks of fraud through management override of controls by performing journal entry testing.
- A review of the going concern status of the company through discussions with management and an analysis of forecasts prepared up to 12 months following audit sign off.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UK GAS SERVICES LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Westleigh Scales FCA (Senior Statutory Auditor)
for and on behalf of Mark J Rees LLP Chartered Accountants
and Statutory Auditors
Granville Hall
Granville Road
Leicester
LE1 7RU

19 April 2024

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

2023 2022
Notes £    £    £    £   

TURNOVER 5 10,322,149 8,425,517

Cost of sales 7,738,214 6,300,518
GROSS PROFIT 2,583,935 2,124,999

Distribution costs 647,657 501,027
Administrative expenses 1,400,468 1,139,573
2,048,125 1,640,600
535,810 484,399

Other operating income 6 - 9,468
OPERATING PROFIT 8 535,810 493,867


Interest payable and similar expenses 9 19,426 18,863
PROFIT BEFORE TAXATION 516,384 475,004

Tax on profit 10 94,207 85,582
PROFIT FOR THE FINANCIAL YEAR 422,177 389,422

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 422,177 389,422


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

422,177

389,422

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 21,716 33,225
21,716 33,225

CURRENT ASSETS
Stocks 13 73,693 89,035
Debtors 14 5,891,837 5,656,410
Cash at bank and in hand 193,752 9,068
6,159,282 5,754,513
CREDITORS
Amounts falling due within one year 15 1,788,084 1,931,086
NET CURRENT ASSETS 4,371,198 3,823,427
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,392,914

3,856,652

CREDITORS
Amounts falling due after more than one
year

16

(84,333

)

(161,583

)

PROVISIONS FOR LIABILITIES 19 (228,321 ) (36,986 )
NET ASSETS 4,080,260 3,658,083

CAPITAL AND RESERVES
Called up share capital 20 2 2
Retained earnings 21 4,080,258 3,658,081
SHAREHOLDERS' FUNDS 4,080,260 3,658,083

The financial statements were approved by the director and authorised for issue on 16 February 2024 and were signed by:





Mr AK Newton - Director


UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2021 2 3,268,659 3,268,661

Changes in equity
Total comprehensive income - 389,422 389,422
Balance at 31 July 2022 2 3,658,081 3,658,083

Changes in equity
Total comprehensive income - 422,177 422,177
Balance at 31 July 2023 2 4,080,258 4,080,260

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

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


1. COMPANY INFORMATION

The principal activity of UK Gas Services Limited is that of boilers, plumbing, heating and related domestic services.

The company is a private limited company (registered number 02976617), which is incorporated and domiciled in the UK. The address of the registered office is 13 Leicester Road, Groby, Leicester, Leicestershire, LE6 0DQ

2. STATUTORY INFORMATION

UK Gas Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


3. 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'' and the Companies Act 2006.

4. ACCOUNTING POLICIES

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

Going Concern
The director has taken the relevant steps in order to minimise the continued impact of COVID-19 and to ensure that the company remains a going concern. The company has continued to trade post year end despite the COVID-19 pandemic.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

Significant judgements and estimates
There were no areas in which the preparation of the financial statements required to make significant judgements or estimates.

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

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


4. ACCOUNTING POLICIES - continued

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Turnover in respect of private work is recognised at the point the work is completed.

Contract income

Turnover on uncompleted contracts is recognised where the outcome can be estimated reliably, contract income is recognised by reference to the stage of completion to the extent that services have been performed and work completed.

Performance is measured based on a percentage of the work completed.

Assets arising from recognition of revenue are recorded in debtors due within one year, initially as amounts recoverable on contracts and transferred to debtors when invoiced.

Amounts received from customers for services not yet recognised as revenue are initially classified as payments received in advance on contracts within creditors.

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.

Website and software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and equipment - 25% on cost
Computer equipment - 33% on cost
Motor vehicles - 25% 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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.


UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

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


4. ACCOUNTING POLICIES - continued
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 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.

Warranty provision
Provision is made for the estimated liability on all products still under warranty, including claims already received.

Where works undertaken are part of an order or contract that includes customer retentions then the provision is based on an estimate of the likely cost of any potential call backs during the warranty period. For all other works the provision is based on past experience of claims arising in the warranty period.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Operating leases
Operating lease rentals are charged in the profit and loss account on a straight line basis over the lease term.

5. TURNOVER

The turnover was derived from the company's principal activity which was carried out wholly in the UK.


6. OTHER OPERATING INCOME
2023 2022
£    £   
Government grants - 9,468

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

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


7. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 2,087,338 1,628,309
Social security costs 169,972 138,103
Other pension costs 102,214 83,648
2,359,524 1,850,060

The average number of employees during the year was as follows:
2023 2022

Directors 1 1
Other 74 61
75 62

2023 2022
£    £   
Director's remuneration 16,000 16,000

8. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 14,155 8,823
Auditors remuneration 6,500 6,500

9. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 26,018 13,193
HMRC interest (6,592 ) 5,670
19,426 18,863

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

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


10. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 94,087 81,842
Prior year
UK corporation tax 43 -
Total current tax 94,130 81,842

Deferred taxation 77 3,740
Tax on profit 94,207 85,582

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 516,384 475,004
Profit multiplied by the standard rate of corporation tax in the UK of
21.005% (2022 - 19%)

108,466

90,251

Effects of:
Expenses not deductible for tax purposes 2,782 14,984
Capital allowances in excess of depreciation - (5,230 )
Depreciation in excess of capital allowances 2,046 -
Utilisation of tax losses (19,207 ) (18,163 )
Adjustments to tax charge in respect of previous periods 43 -
Other timing differences 77 3,740
Total tax charge 94,207 85,582

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

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


11. INTANGIBLE FIXED ASSETS
Website
and
software
£   
COST
At 1 August 2022
and 31 July 2023 25,803
AMORTISATION
At 1 August 2022
and 31 July 2023 25,803
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

12. TANGIBLE FIXED ASSETS
Plant and Computer
equipment equipment Totals
£    £    £   
COST
At 1 August 2022 21,767 26,323 48,090
Additions - 2,646 2,646
At 31 July 2023 21,767 28,969 50,736
DEPRECIATION
At 1 August 2022 7,293 7,572 14,865
Charge for year 4,580 9,575 14,155
At 31 July 2023 11,873 17,147 29,020
NET BOOK VALUE
At 31 July 2023 9,894 11,822 21,716
At 31 July 2022 14,474 18,751 33,225

13. STOCKS
2023 2022
£    £   
Closing stock 73,693 89,035

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

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


14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 801,092 793,946
Amounts owed by group undertakings 4,277,632 3,993,263
Amounts recoverable on contract 681,667 834,059
Other debtors 51,255 18,124
Prepayments 80,191 17,018
5,891,837 5,656,410

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 17) 77,250 121,000
Trade creditors 1,020,304 1,206,492
Taxation 94,087 81,800
Paye/Ni payable 69,087 142,710
VAT 309,934 330,739
Pension funds 18,502 20,390
Credit card 4,150 4,535
Accruals and deferred income 194,770 23,420
1,788,084 1,931,086

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 17) 84,333 161,583

17. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 yr 77,250 121,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 46,000 77,250

Amounts falling due between two and five years:
Bank loans - 2-5 years 38,333 84,333

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

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


18. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 161,583 282,583

Bank overdrafts and bank loans are secured on all the assets of the group.

19. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowance 5,429 5,352
Warranty provision 222,892 31,634
228,321 36,986

Deferred
tax
£   
Balance at 1 August 2022 5,352
Movement in year 77
Balance at 31 July 2023 5,429

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary 1p 2 2

21. RESERVES
Retained
earnings
£   

At 1 August 2022 3,658,081
Profit for the year 422,177
At 31 July 2023 4,080,258

22. PENSION COMMITMENTS

The group operates defined contribution pension schemes. The assets of the schemes are held separately from those of the group within independently administered funds. The total contributions paid in the year amounted to £102,995 (2022 - £84,470). Contributions of £18,502 (2022 - £20,390) were unpaid at the year end.

UK GAS SERVICES LIMITED (REGISTERED NUMBER: 02976617)

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


23. OTHER FINANCIAL COMMITMENTS

The company had future operating lease commitments of £95,977 (2022 - £139,820).

24. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the period there existed an inter-company guarantee between the company, UK Gas Services (Leicestershire) Group Limited and 2 Apples Limited in respect of all of the group's bank loans and overdrafts.

25. ULTIMATE PARENT COMPANY

The company's immediate parent undertaking is UK Gas Services (Leicestershire) Group Limited. The registered office address and the principal place of business of UK Gas Services (Leicestershire) Group Limited is 13 Leicester Road, Groby, Leicestershire, LE6 0DQ.

The company's ultimate parent undertaking is 2 Apples Limited, which owns 100% share capital of UK Gas Services (Leicestershire) Group Limited. The registered office address and the principal place of business of 2 Apples Limited is 13 Leicester Road, Groby, Leicestershire, LE6 0DQ.