IRIS Accounts Production v24.1.0.578 10745450 Board of Directors Board of Directors 1.9.22 31.8.23 31.8.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh107454502022-08-31107454502023-08-31107454502022-09-012023-08-31107454502021-08-31107454502021-09-012022-08-31107454502022-08-3110745450ns15:EnglandWales2022-09-012023-08-3110745450ns14:PoundSterling2022-09-012023-08-3110745450ns10:Director12022-09-012023-08-3110745450ns10:Director22022-09-012023-08-3110745450ns10:CompanySecretary12022-09-012023-08-3110745450ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3110745450ns10:SmallEntities2022-09-012023-08-3110745450ns10:AuditExemptWithAccountantsReport2022-09-012023-08-3110745450ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-3110745450ns10:FullAccounts2022-09-012023-08-3110745450ns10:OrdinaryShareClass12022-09-012023-08-3110745450ns10:RegisteredOffice2022-09-012023-08-3110745450ns5:RetainedEarningsAccumulatedLosses2022-08-3110745450ns5:RetainedEarningsAccumulatedLosses2021-08-3110745450ns5:RetainedEarningsAccumulatedLosses2022-09-012023-08-3110745450ns5:RetainedEarningsAccumulatedLosses2021-09-012022-08-3110745450ns5:RetainedEarningsAccumulatedLosses2023-08-3110745450ns5:RetainedEarningsAccumulatedLosses2022-08-3110745450ns5:CurrentFinancialInstruments2023-08-3110745450ns5:CurrentFinancialInstruments2022-08-3110745450ns5:ShareCapital2023-08-3110745450ns5:ShareCapital2022-08-3110745450ns5:PlantMachinery2022-09-012023-08-3110745450ns5:OwnedAssets2022-09-012023-08-3110745450ns5:OwnedAssets2021-09-012022-08-3110745450ns10:OrdinaryShareClass12021-09-012022-08-3110745450ns5:PlantMachinery2022-08-3110745450ns5:PlantMachinery2023-08-3110745450ns5:PlantMachinery2022-08-3110745450ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3110745450ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-3110745450ns10:OrdinaryShareClass12023-08-31
REGISTERED NUMBER: 10745450 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

GAS TRADING LTD

GAS TRADING LTD (Registered number: 10745450)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 AUGUST 2023




Page

Company Information 1

Report of the Directors 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 5


GAS TRADING LTD

COMPANY INFORMATION
for the Year Ended 31 AUGUST 2023







DIRECTORS: P Goldsmith
Mrs A J Goldsmith





SECRETARY: Mrs A J Goldsmith





REGISTERED OFFICE: 6 Osmund Close
Worth
West Sussex
RH107RG





REGISTERED NUMBER: 10745450 (England and Wales)





ACCOUNTANTS: HARLEYS
259 Croydon Road
Beckenham
Kent
BR3 3PS

GAS TRADING LTD (Registered number: 10745450)

REPORT OF THE DIRECTORS
for the Year Ended 31 AUGUST 2023

The directors present their report with the financial statements of the company for the year ended 31 August 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of heating and plumbing engineers.

DIVIDENDS
An interim dividend of £100 per share was paid on 29 April 2022. The directors recommend a final dividend of £30 per share, making a total of £130 per share for the year ended 31 August 2023.

The total distribution of dividends for the year ended 31 August 2023 will be £ 13,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2022 to the date of this report.

P Goldsmith
Mrs A J Goldsmith

ON BEHALF OF THE BOARD:





Mrs A J Goldsmith - Secretary


28 February 2024

GAS TRADING LTD (Registered number: 10745450)

STATEMENT OF INCOME AND
RETAINED EARNINGS
for the Year Ended 31 AUGUST 2023

31.8.23 31.8.22
Notes £    £   

TURNOVER 144,752 119,408

Cost of sales 30,720 17,424
GROSS PROFIT 114,032 101,984

Administrative expenses 86,315 80,905
OPERATING PROFIT and
PROFIT BEFORE TAXATION 27,717 21,079

Tax on profit 3,700 4,406
PROFIT FOR THE FINANCIAL YEAR 24,017 16,673

Retained earnings at beginning of year 17,357 8,684

Dividends 5 (13,000 ) (8,000 )

RETAINED EARNINGS AT END OF YEAR 28,374 17,357

GAS TRADING LTD (Registered number: 10745450)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 14,900 6,400

CURRENT ASSETS
Debtors 7 34,992 35,283
Cash at bank 40,860 37,200
75,852 72,483
CREDITORS
Amounts falling due within one year 8 62,278 61,426
NET CURRENT ASSETS 13,574 11,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,474

17,457

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 28,374 17,357
SHAREHOLDERS' FUNDS 28,474 17,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:




P Goldsmith - Director



Mrs A J Goldsmith - Director


GAS TRADING LTD (Registered number: 10745450)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 AUGUST 2023

1. STATUTORY INFORMATION

GAS TRADING 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS
31.8.23 31.8.22
£    £   
Wages and salaries 62,000 62,000
Social security costs 82 522
62,082 62,522

The average number of employees during the year was as follows:
31.8.23 31.8.22

Management 3 3

4. OPERATING PROFIT

The operating profit is stated after charging:

31.8.23 31.8.22
£    £   
Depreciation - owned assets 3,350 1,600

GAS TRADING LTD (Registered number: 10745450)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 AUGUST 2023

5. DIVIDENDS
31.8.23 31.8.22
£    £   
Ordinary shares of £1 each
Final 3,000 -
Interim 10,000 8,000
13,000 8,000

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 10,932
Additions 13,250
Disposals (3,950 )
At 31 August 2023 20,232
DEPRECIATION
At 1 September 2022 4,532
Charge for year 3,350
Eliminated on disposal (2,550 )
At 31 August 2023 5,332
NET BOOK VALUE
At 31 August 2023 14,900
At 31 August 2022 6,400

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 16,116 8,225
Tax 17,503 27,058
VAT 1,373 -
34,992 35,283

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Tax 3,700 4,100
Social security and other taxes - 726
VAT - 719
Directors' current accounts 56,463 54,116
Accrued expenses 2,115 1,765
62,278 61,426

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Ordinary £1 100 100