IRIS Accounts Production v24.2.0.383 05002253 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false Ordinary 1.00000 71650 61985 71503 71650 71650 61985 71503 71650 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050022532022-12-31050022532023-12-31050022532023-01-012023-12-31050022532022-09-30050022532022-10-012022-12-31050022532022-12-3105002253ns15:EnglandWales2023-01-012023-12-3105002253ns14:PoundSterling2023-01-012023-12-3105002253ns10:Director12023-01-012023-12-3105002253ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105002253ns10:SmallEntities2023-01-012023-12-3105002253ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105002253ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105002253ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105002253ns10:FullAccounts2023-01-012023-12-310500225312023-01-012023-12-3105002253ns10:OrdinaryShareClass12023-01-012023-12-310500225342ns10:Director22022-12-310500225342ns10:Director22022-09-300500225342ns10:Director22023-01-012023-12-310500225342ns10:Director22022-10-012022-12-310500225342ns10:Director22023-12-310500225342ns10:Director22022-12-3105002253ns10:Director22023-01-012023-12-3105002253ns10:CompanySecretary12023-01-012023-12-3105002253ns10:RegisteredOffice2023-01-012023-12-3105002253ns5:CurrentFinancialInstruments2023-12-3105002253ns5:CurrentFinancialInstruments2022-12-3105002253ns5:Non-currentFinancialInstruments2023-12-3105002253ns5:Non-currentFinancialInstruments2022-12-3105002253ns5:ShareCapital2023-12-3105002253ns5:ShareCapital2022-12-3105002253ns5:RetainedEarningsAccumulatedLosses2023-12-3105002253ns5:RetainedEarningsAccumulatedLosses2022-12-3105002253ns5:NetGoodwill2023-01-012023-12-3105002253ns5:PlantMachinery2023-01-012023-12-3105002253ns5:FurnitureFittings2023-01-012023-12-3105002253ns5:MotorVehicles2023-01-012023-12-3105002253ns5:ComputerEquipment2023-01-012023-12-3105002253ns5:NetGoodwill2022-12-3105002253ns5:IntangibleAssetsOtherThanGoodwill2022-12-3105002253ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3105002253ns5:NetGoodwill2023-12-3105002253ns5:IntangibleAssetsOtherThanGoodwill2023-12-3105002253ns5:NetGoodwill2022-12-3105002253ns5:IntangibleAssetsOtherThanGoodwill2022-12-3105002253ns5:PlantMachinery2022-12-3105002253ns5:FurnitureFittings2022-12-3105002253ns5:MotorVehicles2022-12-3105002253ns5:ComputerEquipment2022-12-3105002253ns5:PlantMachinery2023-12-3105002253ns5:FurnitureFittings2023-12-3105002253ns5:MotorVehicles2023-12-3105002253ns5:ComputerEquipment2023-12-3105002253ns5:PlantMachinery2022-12-3105002253ns5:FurnitureFittings2022-12-3105002253ns5:MotorVehicles2022-12-3105002253ns5:ComputerEquipment2022-12-3105002253ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3105002253ns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2022-12-3105002253ns5:LeasedAssetsHeldAsLessee2022-12-3105002253ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3105002253ns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3105002253ns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3105002253ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3105002253ns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2023-12-3105002253ns5:LeasedAssetsHeldAsLessee2023-12-3105002253ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3105002253ns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2022-12-3105002253ns5:LeasedAssetsHeldAsLessee2022-12-3105002253ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105002253ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105002253ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3105002253ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3105002253ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105002253ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105002253ns5:CurrentFinancialInstrumentsns5:FinanceLeasesns5:WithinOneYear2023-12-3105002253ns5:CurrentFinancialInstrumentsns5:FinanceLeasesns5:WithinOneYear2022-12-3105002253ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3105002253ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-12-3105002253ns5:BetweenOneFiveYearsns5:FinanceLeases2023-12-3105002253ns5:BetweenOneFiveYearsns5:FinanceLeases2022-12-3105002253ns5:HirePurchaseContracts2023-12-3105002253ns5:HirePurchaseContracts2022-12-3105002253ns5:FinanceLeases2023-12-3105002253ns5:FinanceLeases2022-12-3105002253ns5:WithinOneYear2023-12-3105002253ns5:WithinOneYear2022-12-3105002253ns5:BetweenOneFiveYears2023-12-3105002253ns5:BetweenOneFiveYears2022-12-3105002253ns5:AllPeriods2023-12-3105002253ns5:AllPeriods2022-12-3105002253ns5:Secured2023-12-3105002253ns5:Secured2022-12-3105002253ns10:OrdinaryShareClass12023-12-31050022531ns10:Director12022-12-31050022531ns10:Director12022-09-30050022531ns10:Director12023-01-012023-12-31050022531ns10:Director12022-10-012022-12-31050022531ns10:Director12023-12-31050022531ns10:Director12022-12-31
REGISTERED NUMBER: 05002253 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

G C Interfinish Limited

G C Interfinish Limited (Registered number: 05002253)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G C Interfinish Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G Cantrill
Mrs M Cantrill



SECRETARY: Mrs M Cantrill



REGISTERED OFFICE: 4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT



REGISTERED NUMBER: 05002253 (England and Wales)



ACCOUNTANTS: Smith Cookson
Chartered Accountants
4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT



BANKERS: HSBC
1 Leeming Street
Mansfield
Nottinghamshire
NG18 1LU

G C Interfinish Limited (Registered number: 05002253)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 87,475 4,608
Tangible assets 5 162,669 157,841
250,144 162,449

CURRENT ASSETS
Debtors 6 382,383 309,787
Cash at bank 103,070 100,307
485,453 410,094
CREDITORS
Amounts falling due within one year 7 245,559 147,817
NET CURRENT ASSETS 239,894 262,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

490,038

424,726

CREDITORS
Amounts falling due after more than one
year

8

(152,128

)

(152,387

)

PROVISIONS FOR LIABILITIES (40,667 ) (39,460 )
NET ASSETS 297,243 232,879

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 297,241 232,877
SHAREHOLDERS' FUNDS 297,243 232,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 C Interfinish Limited (Registered number: 05002253)

Balance Sheet - continued
31 December 2023


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 16 August 2024 and were signed on its behalf by:





G Cantrill - Director


G C Interfinish Limited (Registered number: 05002253)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

G C Interfinish 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been fully amortised over its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

G C Interfinish Limited (Registered number: 05002253)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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 7 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023 10,000 4,608 14,608
Additions - 82,867 82,867
At 31 December 2023 10,000 87,475 97,475
AMORTISATION
At 1 January 2023
and 31 December 2023 10,000 - 10,000
NET BOOK VALUE
At 31 December 2023 - 87,475 87,475
At 31 December 2022 - 4,608 4,608

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 34,228 6,991 262,705 10,523 314,447
Additions - - 74,692 4,666 79,358
Disposals - - (21,727 ) - (21,727 )
At 31 December 2023 34,228 6,991 315,670 15,189 372,078
DEPRECIATION
At 1 January 2023 29,236 5,099 112,431 9,840 156,606
Charge for year 1,250 284 62,966 1,338 65,838
Eliminated on disposal - - (13,035 ) - (13,035 )
At 31 December 2023 30,486 5,383 162,362 11,178 209,409
NET BOOK VALUE
At 31 December 2023 3,742 1,608 153,308 4,011 162,669
At 31 December 2022 4,992 1,892 150,274 683 157,841

G C Interfinish Limited (Registered number: 05002253)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 262,705 - 262,705
Additions 74,692 4,666 79,358
Disposals (21,727 ) - (21,727 )
At 31 December 2023 315,670 4,666 320,336
DEPRECIATION
At 1 January 2023 112,428 - 112,428
Charge for year 62,966 1,167 64,133
Eliminated on disposal (13,035 ) - (13,035 )
At 31 December 2023 162,359 1,167 163,526
NET BOOK VALUE
At 31 December 2023 153,311 3,499 156,810
At 31 December 2022 150,277 - 150,277

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 162,972 126,609
Retentions withheld 25,449 28,020
Other debtors 4,849 821
PAYE debtor 56,247 39,537
Directors' current accounts 71,503 71,651
Corporation tax - 736
VAT 45,370 27,021
Prepayments 15,993 15,392
382,383 309,787

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 11,739 11,441
Hire purchase contracts and finance leases (see note 9)
47,132

38,677
Trade creditors 126,000 94,622
Corporation tax 56,002 -
Accruals and deferred income 4,686 3,077
245,559 147,817

G C Interfinish Limited (Registered number: 05002253)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans to be repaid
between 2 & 5 years by
instalments 14,303 24,192
Hire purchase contracts and finance leases (see note 9)
137,825

128,195
152,128 152,387

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Net obligations repayable:
Within one year 45,867 38,677 1,265 -
Between one and five years 135,783 128,195 2,042 -
181,650 166,872 3,307 -

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 4,750 9,500
Between one and five years - 4,750
4,750 14,250

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 1,091 793
Hire purchase contracts and finance leases 184,957 166,872
186,048 167,665

The overdraft is secured by a fixed and floating charge over all the assets.

The hire purchase arrangements are secured by a charge over the individual assets to which they relate.

G C Interfinish Limited (Registered number: 05002253)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2 Ordinary 1.00 2 2

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2023 and the period ended 31 December 2022:

31.12.23 31.12.22
£    £   
G Cantrill and Mrs M Cantrill
Balance outstanding at start of year 71,650 61,985
Amounts advanced 71,503 71,650
Amounts repaid (71,650 ) (61,985 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 71,503 71,650

The above loan was repaid in full on 30th April 2024.