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Registered number: 08030670
G A Earthworks Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Mayers
33 Mary Seacole Road
The Millfields
Plymouth
PL1 3JY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08030670
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 132,879 103,554
132,879 103,554
CURRENT ASSETS
Stocks 6 13,330 9,981
Debtors 7 135,165 111,209
Cash at bank and in hand 56,012 85,679
204,507 206,869
Creditors: Amounts Falling Due Within One Year 8 (95,047 ) (108,023 )
NET CURRENT ASSETS (LIABILITIES) 109,460 98,846
TOTAL ASSETS LESS CURRENT LIABILITIES 242,339 202,400
Creditors: Amounts Falling Due After More Than One Year 9 (63,091 ) (51,274 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,247 ) (19,675 )
NET ASSETS 154,001 131,451
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 153,901 131,351
SHAREHOLDERS' FUNDS 154,001 131,451
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gareth Abbott
Director
5 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
G A Earthworks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08030670 . The registered office is 33 Mary Seacole Road, Plymouth, Devon, PL1 3JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 9,053
As at 30 April 2024 9,053
Amortisation
As at 1 May 2023 9,053
As at 30 April 2024 9,053
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 93,047 80,981 10,361 3,348 187,737
Additions - 63,056 - 3,833 66,889
Disposals (10,460 ) - - - (10,460 )
As at 30 April 2024 82,587 144,037 10,361 7,181 244,166
...CONTINUED
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Page 5
Depreciation
As at 1 May 2023 46,427 30,744 4,975 2,037 84,183
Provided during the period 6,245 22,658 1,077 2,253 32,233
Disposals (5,129 ) - - - (5,129 )
As at 30 April 2024 47,543 53,402 6,052 4,290 111,287
Net Book Value
As at 30 April 2024 35,044 90,635 4,309 2,891 132,879
As at 1 May 2023 46,620 50,237 5,386 1,311 103,554
6. Stocks
2024 2023
£ £
Stock 4,244 3,140
Work in progress 9,086 6,841
13,330 9,981
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 135,165 108,584
Other debtors - 2,625
135,165 111,209
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 20,508 11,900
Trade creditors 12,385 16,955
Corporation tax 13,393 9,203
Other taxes and social security 2,119 2,892
VAT 28,085 26,914
Other creditors 118 155
Accrued expenses 1,260 1,200
Director's loan account 17,179 38,804
95,047 108,023
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 42,258 20,441
Bank loans 20,833 30,833
63,091 51,274
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 20,508 11,900
Later than one year and not later than five years 42,258 20,441
62,766 32,341
62,766 32,341
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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