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REGISTERED NUMBER: 03755241 (England and Wales)















G T Building Services Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 May 2024






G T Building Services Limited (Registered number: 03755241)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


G T Building Services Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: G G Turner
S E Turner
L C Turner



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 03755241 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Lloyds Bank plc
25 Cornhill
Bridgwater
Somerset
TA6 3AY

G T Building Services Limited (Registered number: 03755241)

Abridged Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,021 7,165

CURRENT ASSETS
Stocks 4,820 2,235
Debtors 98,250 72,428
Cash at bank and in hand 96,726 52,244
199,796 126,907
CREDITORS
Amounts falling due within one year 115,090 65,246
NET CURRENT ASSETS 84,706 61,661
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,727

68,826

PROVISIONS FOR LIABILITIES 1,452 1,361
NET ASSETS 89,275 67,465

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 89,075 67,265
SHAREHOLDERS' FUNDS 89,275 67,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

G T Building Services Limited (Registered number: 03755241)

Abridged Statement of Financial Position - continued
31 May 2024



The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:





G G Turner - Director


G T Building Services Limited (Registered number: 03755241)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

G T Building Services 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.

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 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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

G T Building Services Limited (Registered number: 03755241)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 62,795
Additions 1,600
Disposals (24,777 )
At 31 May 2024 39,618
DEPRECIATION
At 1 June 2023 55,630
Charge for year 1,504
Eliminated on disposal (23,537 )
At 31 May 2024 33,597
NET BOOK VALUE
At 31 May 2024 6,021
At 31 May 2023 7,165

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.24 31.5.23
£    £   
Within one year 7,179 10,122
Between one and five years 7,881 1,616
15,060 11,738

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
G G Turner and S E Turner
Balance outstanding at start of year 4,658 25,003
Amounts repaid (60,000 ) (42,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17,411 ) 4,658

G T Building Services Limited (Registered number: 03755241)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

L C Turner
Balance outstanding at start of year 25,152 25,471
Amounts repaid (35,500 ) (35,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,807 25,152

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G G Turner and Mrs S E Turner.

The above directors controlled the company throughout the current and previous periods, by virtue of the fact they own the majority of the company's issued share capital.