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COMPANY REGISTRATION NUMBER: 09279803
Gaisford Construction Services Ltd
Filleted Unaudited Financial Statements
30 April 2023
Gaisford Construction Services Ltd
Financial Statements
Year ended 30 April 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Gaisford Construction Services Ltd
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
146,028
193,828
Current assets
Stocks
71,504
236,575
Debtors
6
422,170
394,108
Cash at bank and in hand
76,622
182,174
---------
---------
570,296
812,857
Creditors: amounts falling due within one year
7
593,377
424,432
---------
---------
Net current (liabilities)/assets
( 23,081)
388,425
---------
---------
Total assets less current liabilities
122,947
582,253
Creditors: amounts falling due after more than one year
8
282,217
442,822
---------
---------
Net (liabilities)/assets
( 159,270)
139,431
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 159,370)
139,331
---------
---------
Shareholders (deficit)/funds
( 159,270)
139,431
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Gaisford Construction Services Ltd
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 17 April 2024 , and are signed on behalf of the board by:
Mr I F Gaisford
Director
Company registration number: 09279803
Gaisford Construction Services Ltd
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the directors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Office equipment
Total
£
£
£
£
£
Cost
At 1 May 2022
191,975
2,535
134,207
4,925
333,642
Additions
816
816
---------
-------
---------
-------
---------
At 30 April 2023
191,975
2,535
134,207
5,741
334,458
---------
-------
---------
-------
---------
Depreciation
At 1 May 2022
56,148
2,535
76,206
4,925
139,814
Charge for the year
33,957
14,500
159
48,616
---------
-------
---------
-------
---------
At 30 April 2023
90,105
2,535
90,706
5,084
188,430
---------
-------
---------
-------
---------
Carrying amount
At 30 April 2023
101,870
43,501
657
146,028
---------
-------
---------
-------
---------
At 30 April 2022
135,827
58,001
193,828
---------
-------
---------
-------
---------
6. Debtors
2023
2022
£
£
Trade debtors
372,748
287,274
Other debtors
49,422
106,834
---------
---------
422,170
394,108
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
484,762
325,321
Social security and other taxes
15,183
10,583
Other creditors
93,432
88,528
---------
---------
593,377
424,432
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
130,229
199,436
Other creditors
151,988
243,386
---------
---------
282,217
442,822
---------
---------