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Registration number: 12728392

Gatley Surfacing Civils Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Gatley Surfacing Civils Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Gatley Surfacing Civils Limited

Company Information

Directors

Mr M S Murphy

Mr P M Murphy

Registered office

Sand House
22-24 Greenwood Street
Altrincham
Cheshire
WA14 1RZ

Accountants

Xeinadin Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Gatley Surfacing Civils Limited
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gatley Surfacing Civils Limited for the year ended 31 July 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Gatley Surfacing Civils Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gatley Surfacing Civils Limited and state those matters that we have agreed to state to the Board of Directors of Gatley Surfacing Civils Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gatley Surfacing Civils Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gatley Surfacing Civils 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 Gatley Surfacing Civils Limited. You consider that Gatley Surfacing Civils 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 Gatley Surfacing Civils 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.

......................................


Xeinadin Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

22 April 2024

 

Gatley Surfacing Civils Limited

(Registration number: 12728392)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

112,310

100,102

Current assets

 

Debtors

5

681,431

544,137

Cash at bank and in hand

 

454,880

296,577

 

1,136,311

840,714

Creditors: Amounts falling due within one year

6

(397,743)

(327,101)

Net current assets

 

738,568

513,613

Total assets less current liabilities

 

850,878

613,715

Creditors: Amounts falling due after more than one year

6

(5,888)

(21,153)

Provisions for liabilities

(28,078)

(19,172)

Net assets

 

816,912

573,390

Capital and reserves

 

Called up share capital

100

100

Retained earnings

816,812

573,290

Shareholders' funds

 

816,912

573,390

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Gatley Surfacing Civils Limited

(Registration number: 12728392)
Balance Sheet as at 31 July 2023

Approved and authorised by the Board on 22 April 2024 and signed on its behalf by:
 

.........................................
Mr M S Murphy
Director

 

Gatley Surfacing Civils Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sand House
22-24 Greenwood Street
Altrincham
Cheshire
WA14 1RZ

These financial statements were authorised for issue by the Board on 22 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Gatley Surfacing Civils Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% Straight line basis

Plant and machinery

20% Reducing balance basis

Motor vehicles

20% Reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Gatley Surfacing Civils Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Gatley Surfacing Civils Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2022 - 14).

 

Gatley Surfacing Civils Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

58,966

60,700

119,666

Additions

-

46,150

46,150

Disposals

-

(12,000)

(12,000)

At 31 July 2023

58,966

94,850

153,816

Depreciation

At 1 August 2022

9,931

9,632

19,563

Charge for the year

9,824

16,439

26,263

Eliminated on disposal

-

(4,320)

(4,320)

At 31 July 2023

19,755

21,751

41,506

Carrying amount

At 31 July 2023

39,211

73,099

112,310

At 31 July 2022

49,034

51,068

100,102

5

Debtors

2023
£

2022
£

Trade debtors

435,689

438,014

Prepayments and accrued income

176,754

40,760

Other debtors

68,988

65,363

681,431

544,137

 

Gatley Surfacing Civils Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

15,266

31,918

Trade creditors

 

151,526

50,318

Taxation and social security

 

170,185

107,682

Accruals and deferred income

 

59,641

31,316

Other creditors

 

1,125

105,867

 

397,743

327,101

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

5,888

21,153

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

5,888

21,153

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

15,266

14,242

Other borrowings

-

17,676

15,266

31,918