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REGISTERED NUMBER: 12019613 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

GLOUCESTERSHIRE'S MACHINING CENTRE LTD

GLOUCESTERSHIRE'S MACHINING CENTRE LTD (Registered number: 12019613)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GLOUCESTERSHIRE'S MACHINING CENTRE LTD

Company Information
for the Year Ended 31 May 2024







DIRECTOR: P A Bland





SECRETARY:





REGISTERED OFFICE: 23 Winchester Drive
Tuffley
Gloucester
GL4 0JE





REGISTERED NUMBER: 12019613 (England and Wales)





ACCOUNTANTS: Monest Accounts Limited
Pure Offices, Kestrel Court
Waterwells Drive, Quedgeley
Gloucester
Gloucestershire
GL2 2AT

GLOUCESTERSHIRE'S MACHINING CENTRE LTD (Registered number: 12019613)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,000 2,400
Tangible assets 5 232,588 209,993
239,588 212,393

CURRENT ASSETS
Debtors 6 195,903 111,985
Cash at bank 270,471 89,239
466,374 201,224
CREDITORS
Amounts falling due within one year 7 338,248 150,168
NET CURRENT ASSETS 128,126 51,056
TOTAL ASSETS LESS CURRENT
LIABILITIES

367,714

263,449

CREDITORS
Amounts falling due after more than one
year

8

117,224

125,819
NET ASSETS 250,490 137,630

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 250,489 137,629
SHAREHOLDERS' FUNDS 250,490 137,630

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 director acknowledges his 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.

GLOUCESTERSHIRE'S MACHINING CENTRE LTD (Registered number: 12019613)

Statement of Financial Position - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 July 2024 and were signed by:





P A Bland - Director


GLOUCESTERSHIRE'S MACHINING CENTRE LTD (Registered number: 12019613)

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

1. STATUTORY INFORMATION

GLOUCESTERSHIRE'S MACHINING CENTRE LTD 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil 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 etc - 20% on reducing balance

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 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.

GLOUCESTERSHIRE'S MACHINING CENTRE LTD (Registered number: 12019613)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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 12 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 June 2023 12,000 - 12,000
Additions - 8,750 8,750
At 31 May 2024 12,000 8,750 20,750
AMORTISATION
At 1 June 2023 9,600 - 9,600
Charge for year 2,400 1,750 4,150
At 31 May 2024 12,000 1,750 13,750
NET BOOK VALUE
At 31 May 2024 - 7,000 7,000
At 31 May 2023 2,400 - 2,400

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 387,584
Additions 80,742
At 31 May 2024 468,326
DEPRECIATION
At 1 June 2023 177,591
Charge for year 58,147
At 31 May 2024 235,738
NET BOOK VALUE
At 31 May 2024 232,588
At 31 May 2023 209,993

GLOUCESTERSHIRE'S MACHINING CENTRE LTD (Registered number: 12019613)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 195,903 111,985

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 96,501 79,590
Trade creditors 52,299 -
Taxation and social security 187,558 68,688
Other creditors 1,890 1,890
338,248 150,168

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 117,224 125,819