G-TEN COMMERCIALS LTD

Company Registration Number:
SC478495 (Scotland)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

G-TEN COMMERCIALS LTD

Contents of the Financial Statements

for the Period Ended 31 May 2024

Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 10

G-TEN COMMERCIALS LTD

Company Information

for the Period Ended 31 May 2024




Director: Gary Petrie
Mrs Michelle Petrie
Secretary: Mrs Michelle Petrie
Registered office: Smithstown Farmhouse
Smithstown Farmhouse
Portknockie
Moray
AB56 4PD
Company Registration Number: SC478495 (Scotland)

G-TEN COMMERCIALS LTD

Directors' Report Period Ended 31 May 2024

The directors present their report with the financial statements of the company for the period ended 31 May 2024

Principal Activities

The principal activity of the Company was the sale of commercial vehicles.

Directors

The directors shown below have held office during the whole of the period from 01 June 2023 to 31 May 2024
Gary Petrie
Mrs Michelle Petrie

Secretary
Mrs Michelle Petrie

This report was approved by the board of directors on 25 June 2024
And Signed On Behalf Of The Board By:

Name: Gary Petrie
Status: Director

Name: Mrs Michelle Petrie
Status: Director

G-TEN COMMERCIALS LTD

Balance sheet

As at 31 May 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 4,202 4,338
Total fixed assets: 4,202 4,338
Current assets
Stocks: 71,150 19,500
Cash at bank and in hand: 119,121 130,397
Total current assets: 190,271 149,897
Prepayments and accrued income: 1,823 954
Creditors: amounts falling due within one year: ( 63,632 ) ( 45,175 )
Net current assets (liabilities): 128,462 105,676
Total assets less current liabilities: 132,664 110,014
Provision for liabilities: ( 1,050 ) ( 1,084 )
Total net assets (liabilities): 131,614 108,930

The notes form part of these financial statements

G-TEN COMMERCIALS LTD

Balance sheet continued

As at 31 May 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 131,514 108,830
Shareholders funds: 131,614 108,930

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 25 June 2024
And Signed On Behalf Of The Board By:

Name: Gary Petrie
Status: Director

Name: Mrs Michelle Petrie
Status: Director

The notes form part of these financial statements

G-TEN COMMERCIALS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents amounts receivable for the sale of commercial vehicles (net of vat) and other associated income. Turnover is recognised in the accounting period to which it relates.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
    Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
    Plant and Equipment - 20% reducing balance
    The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit and loss.

G-TEN COMMERCIALS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 2 2

G-TEN COMMERCIALS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 3. Off balance sheet disclosure

    No

G-TEN COMMERCIALS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Tangible Assets

Total
Cost £
At 01 June 2023 6,225
Additions 914
Disposals (0)
Revaluations -
Transfers -
At 31 May 2024 7,139
Depreciation
At 01 June 2023 1,887
Charge for year 1,050
On disposals (0)
Other adjustments -
At 31 May 2024 2,937
Net book value
At 31 May 2024 4,202
At 31 May 2023 4,338