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Registered Number: 08600404
England and Wales

 

 

 

GLADES CONSTRUCTION LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 28,996    37,180 
28,996    37,180 
Current assets      
Stocks 80,360    82,250 
Debtors 110,890    146,251 
Cash at bank and in hand 15,117    3,661 
206,367    232,162 
Creditors: amount falling due within one year (76,420)   (76,136)
Net current assets 129,947    156,026 
 
Total assets less current liabilities 158,943    193,206 
Creditors: amount falling due after more than one year (33,158)   (84,993)
Accruals and deferred income (4,840)  
Provisions for liabilities (368)   (455)
Net assets 120,577    107,758 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 120,477    107,658 
Shareholder's funds 120,577    107,758 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 10 April 2024 and were signed on its behalf by:


-------------------------------
Suresh Henry DE SILVA
Director
1
General Information
GLADES CONSTRUCTION LTD is a private company, limited by shares, registered in England and Wales, registration number 08600404, registration address 38 Cedar Drive, Pinner, Middlesex, HA5 4DE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 13 (2022 : 11).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 August 2022 49,355    44,535    93,890 
Additions    
Disposals    
At 31 July 2023 49,355    44,535    93,890 
Depreciation
At 01 August 2022 32,135    24,575    56,710 
Charge for year 4,192    3,992    8,184 
On disposals    
At 31 July 2023 36,327    28,567    64,894 
Net book values
Closing balance as at 31 July 2023 13,028    15,968    28,996 
Opening balance as at 01 August 2022 17,220    19,960    37,180 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

2