Registered number
08383350
GJC Plumbing & Heating Limited
Filleted Accounts
31 March 2023
GJC Plumbing & Heating Limited
Company Information
Director
G J Carter
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
48 Pilley Crescent
Cheltenham
Glos
Registered number
08383350
GJC Plumbing & Heating Limited
Registered number: 08383350
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 2,000 4,000
Current assets
Debtors 4 30,223 38,339
Cash at bank and in hand 561 2,727
30,784 41,066
Creditors: amounts falling due within one year 5 (6,813) (14,403)
Net current assets 23,971 26,663
Total assets less current liabilities 25,971 30,663
Creditors: amounts falling due after more than one year 6 (23,833) (30,333)
Net assets 2,138 330
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,137 329
Shareholder's funds 2,138 330
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G J Carter
Director
Approved by the board on 30 September 2023
GJC Plumbing & Heating Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 20,000
At 31 March 2023 20,000
Amortisation
At 1 April 2022 16,000
Provided during the year 2,000
At 31 March 2023 18,000
Net book value
At 31 March 2023 2,000
At 31 March 2022 4,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2023 2022
£ £
Trade debtors 5,922 12,470
Directors loan account 23,268 25,000
Other debtors 1,033 869
30,223 38,339
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 2,869
Taxation and social security costs 6,757 11,534
Other creditors 56 -
6,813 14,403
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,833 30,333
7 Controlling party
The company is controlled by the director.
8 Other information
GJC Plumbing & Heating Limited is a private company limited by shares and incorporated in England. Its registered office is:
48 Pilley Crescent
Cheltenham
Glos
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