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REGISTERED NUMBER: 06926582 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

G & S Fabrications Limited

G & S Fabrications Limited (Registered number: 06926582)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G & S Fabrications Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: G Coleman
SA Dawson





REGISTERED OFFICE: 38 Aston Road
Waterlooville
Hampshire
PO7 7XF





REGISTERED NUMBER: 06926582 (England and Wales)





ACCOUNTANTS: Croft Accounting Limited
25 Barnes Wallis Road
Segensworth
Fareham
Hampshire
PO15 5TT

G & S Fabrications Limited (Registered number: 06926582)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 242,844 257,590

CURRENT ASSETS
Stocks 44,000 44,000
Debtors 5 131,652 208,342
Cash at bank 421,818 402,268
597,470 654,610
CREDITORS
Amounts falling due within one year 6 290,533 309,915
NET CURRENT ASSETS 306,937 344,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

549,781

602,285

CREDITORS
Amounts falling due after more than one year 7 (70,573 ) (81,295 )

PROVISIONS FOR LIABILITIES (4,971 ) (5,899 )
NET ASSETS 474,237 515,091

CAPITAL AND RESERVES
Called up share capital 14 10
Retained earnings 474,223 515,081
SHAREHOLDERS' FUNDS 474,237 515,091

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

G & S Fabrications Limited (Registered number: 06926582)

Balance Sheet - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





SA Dawson - Director


G & S Fabrications Limited (Registered number: 06926582)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

G & S Fabrications 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 - 25% on cost and 20% on cost

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

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.

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.

G & S Fabrications Limited (Registered number: 06926582)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2023
and 30 June 2024 210,000 6,295 159,804
DEPRECIATION
At 1 July 2023 - 6,295 115,977
Charge for year - - 13,472
At 30 June 2024 - 6,295 129,449
NET BOOK VALUE
At 30 June 2024 210,000 - 30,355
At 30 June 2023 210,000 - 43,827

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 42,360 14,460 432,919
DEPRECIATION
At 1 July 2023 42,360 10,697 175,329
Charge for year - 1,274 14,746
At 30 June 2024 42,360 11,971 190,075
NET BOOK VALUE
At 30 June 2024 - 2,489 242,844
At 30 June 2023 - 3,763 257,590

G & S Fabrications Limited (Registered number: 06926582)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 93,591 158,003
Retentions 24,481 28,737
VAT 4,879 13,855
Prepayments 8,701 7,747
131,652 208,342

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 11,269 11,269
Trade creditors 205,299 219,568
Tax 59,584 66,743
Social security and other taxes 9,403 8,113
Other creditors 2,978 2,222
Accrued expenses 2,000 2,000
290,533 309,915

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 11,269 11,269
Bank loans - 2-5 years 33,807 33,807
Bank loans more 5 yr by instal 24,545 32,522
Directors' loan accounts 952 3,697
70,573 81,295

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 24,545 32,522