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REGISTERED NUMBER: 04413636 (England and Wales)






















Financial Statements

for the Year Ended 31 December 2023

for

Gas Turbine Services (Lincoln) Ltd

Gas Turbine Services (Lincoln) Ltd (Registered number: 04413636)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gas Turbine Services (Lincoln) Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Kjellerup
R J Dye





REGISTERED OFFICE: 15 Newland
Lincoln
Lincolnshire
LN1 1XG





REGISTERED NUMBER: 04413636 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Gas Turbine Services (Lincoln) Ltd (Registered number: 04413636)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,385 32,865

CURRENT ASSETS
Stocks 53,493 43,528
Debtors 5 546,738 528,728
Cash at bank 410,738 111,074
1,010,969 683,330
CREDITORS
Amounts falling due within one year 6 369,977 284,220
NET CURRENT ASSETS 640,992 399,110
TOTAL ASSETS LESS CURRENT
LIABILITIES

684,377

431,975

PROVISIONS FOR LIABILITIES 10,846 6,244
NET ASSETS 673,531 425,731

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 673,431 425,631
SHAREHOLDERS' FUNDS 673,531 425,731

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:





R J Dye - Director


Gas Turbine Services (Lincoln) Ltd (Registered number: 04413636)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Gas Turbine Services (Lincoln) Ltd 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 (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the cost of providing the service of specialist engineering excluding value added tax. Turnover is recognised in the period the work is performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 21 ) .

Gas Turbine Services (Lincoln) Ltd (Registered number: 04413636)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 21,670 12,730 - 23,193 57,593
Additions 1,259 3,609 16,300 4,527 25,695
At 31 December 2023 22,929 16,339 16,300 27,720 83,288
DEPRECIATION
At 1 January 2023 3,315 10,288 - 11,125 24,728
Charge for year 5,469 1,494 3,416 4,796 15,175
At 31 December 2023 8,784 11,782 3,416 15,921 39,903
NET BOOK VALUE
At 31 December 2023 14,145 4,557 12,884 11,799 43,385
At 31 December 2022 18,355 2,442 - 12,068 32,865

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 86,116 180,942
Amounts owed by group undertakings 269,539 273,393
Other debtors 191,083 74,393
546,738 528,728

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 56,989 23,517
Taxation and social security 156,868 95,413
Other creditors 156,120 165,290
369,977 284,220

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 18,500 18,500
Between one and five years - 18,500
18,500 37,000

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Gas Turbine Services (Lincoln) Ltd (Registered number: 04413636)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Chadwick BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

10. 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.

11. PARENT COMPANY

The parent company of Gas Turbine Services (Lincoln) Limited is HKJ Group A/S incorporated in Denmark.

The registered office address is:

Murervej 2-6
6710 Esbjerg V
Denmark

12. ULTIMATE PARENT COMPANY

The ultimate parent company of Gas Turbine Services (Lincoln) Limited is European Support Services (UK) Ltd incorporated in England.

The registered office address is:

15 Newland
Lincoln
LN1 1 XG