Company Registration No. 14101403 (England and Wales)
GSN Electrical Limited
Unaudited accounts
for the year ended 31 May 2024
GSN Electrical Limited
Unaudited accounts
Contents
GSN Electrical Limited
Company Information
for the year ended 31 May 2024
Company Number
14101403 (England and Wales)
Registered Office
2 EXETER STREET
COTTINGHAM
EAST RIDING OF YORKSHIRE
HU16 4LU
ENGLAND
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
GSN Electrical Limited
Statement of financial position
as at 31 May 2024
Tangible assets
1,141
1,500
Cash at bank and in hand
4,405
2,751
Creditors: amounts falling due within one year
(6,746)
(4,141)
Net current liabilities
(755)
(1,390)
Called up share capital
100
100
Profit and loss account
286
10
Shareholders' funds
386
110
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 September 2024 and were signed on its behalf by
Mr G S Norrie
Director
Company Registration No. 14101403
GSN Electrical Limited
Notes to the Accounts
for the year ended 31 May 2024
GSN Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 14101403. The registered office is 2 EXETER STREET, COTTINGHAM, EAST RIDING OF YORKSHIRE, HU16 4LU, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% at cost
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
GSN Electrical Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2023
2,000
-
2,000
At 31 May 2024
2,000
178
2,178
Charge for the year
500
37
537
At 31 May 2024
1,000
37
1,037
At 31 May 2024
1,000
141
1,141
At 31 May 2023
1,500
-
1,500
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
6,746
4,055
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).