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REGISTERED NUMBER: 08632046 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

GS COMMERCIAL REPAIRS LIMITED

GS COMMERCIAL REPAIRS LIMITED (REGISTERED NUMBER: 08632046)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GS COMMERCIAL REPAIRS LIMITED

COMPANY INFORMATION
for the Year Ended 31 JULY 2023







DIRECTORS: Mr D M Gayton
Mrs C A Gayton





REGISTERED OFFICE: Unit 22 Dencora Way
Sundon Industrial Estate
Luton
Bedfordshire
LU3 3HP





REGISTERED NUMBER: 08632046 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

GS COMMERCIAL REPAIRS LIMITED (REGISTERED NUMBER: 08632046)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 48,615 63,726
48,615 63,726

CURRENT ASSETS
Stocks 11,525 10,975
Debtors 7 211,463 182,499
Cash at bank and in hand 131,972 96,123
354,960 289,597
CREDITORS
Amounts falling due within one year 8 97,456 76,763
NET CURRENT ASSETS 257,504 212,834
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,119

276,560

PROVISIONS FOR LIABILITIES 12,154 12,108
NET ASSETS 293,965 264,452

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 293,865 264,352
SHAREHOLDERS' FUNDS 293,965 264,452

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

GS COMMERCIAL REPAIRS LIMITED (REGISTERED NUMBER: 08632046)

BALANCE SHEET - continued
31 JULY 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2024 and were signed on its behalf by:





Mr D M Gayton - Director


GS COMMERCIAL REPAIRS LIMITED (REGISTERED NUMBER: 08632046)

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

1. STATUTORY INFORMATION

GS Commercial Repairs Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value consideration received or receivable excluding discounts rebates value added tax and other sales taxes.
In respect of contracts for ongoing services turnover represents the value of work done in the year including estimates of amounts not invoiced.

Goodwill
Goodwill is being written off over a period of 5 years.

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 - 20% on cost
Motor vehicles - 25% on cost

All fixed assets are initially recorded at cost.

Government grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

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 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.


GS COMMERCIAL REPAIRS LIMITED (REGISTERED NUMBER: 08632046)

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

3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 30,000
AMORTISATION
At 1 August 2022
and 31 July 2023 30,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

GS COMMERCIAL REPAIRS LIMITED (REGISTERED NUMBER: 08632046)

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

6. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2022 184,493 17,950 202,443
Additions 8,179 9,167 17,346
Disposals - (2,000 ) (2,000 )
At 31 July 2023 192,672 25,117 217,789
DEPRECIATION
At 1 August 2022 123,580 15,137 138,717
Charge for year 28,352 3,105 31,457
Eliminated on disposal - (1,000 ) (1,000 )
At 31 July 2023 151,932 17,242 169,174
NET BOOK VALUE
At 31 July 2023 40,740 7,875 48,615
At 31 July 2022 60,913 2,813 63,726

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 186,236 155,438
Other debtors 25,227 27,061
211,463 182,499

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 33,092 33,795
Taxation and social security 59,214 39,533
Other creditors 5,150 3,435
97,456 76,763

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Between one and five years 100,000 175,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 100