Registered number
08815115
GAS & ELEC SOLUTIONS LTD
Unaudited Filleted Accounts
31 December 2023
GAS & ELEC SOLUTIONS LTD
Registered number: 08815115
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 192,451 186,038
Current assets
Debtors 4 1,850 570
Cash at bank and in hand 12,199 29,233
14,049 29,803
Creditors: amounts falling due within one year 5 (93,311) (96,484)
Net current liabilities (79,262) (66,681)
Total assets less current liabilities 113,189 119,357
Creditors: amounts falling due after more than one year 6 (85,548) (100,214)
Net assets 27,641 19,143
Capital and reserves
Called up share capital 1 1
Profit and loss account 27,640 19,142
Shareholder's funds 27,641 19,143
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F Henderson
Director
Approved by the board on 13 September 2024
GAS & ELEC SOLUTIONS LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 165,906 5,059 46,629 217,594
Additions 10,440 - - 10,440
At 31 December 2023 176,346 5,059 46,629 228,034
Depreciation
At 1 January 2023 - 5,059 26,497 31,556
Charge for the year - - 4,027 4,027
At 31 December 2023 - 5,059 30,524 35,583
Net book value
At 31 December 2023 176,346 - 16,105 192,451
At 31 December 2022 165,906 - 20,132 186,038
4 Debtors 2023 2022
£ £
Trade debtors 1,790 570
Other debtors 60 -
1,850 570
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,095 2,956
Obligations under finance lease and hire purchase contracts - 4,606
Taxation and social security costs 3,391 8,589
Other creditors 86,825 80,333
93,311 96,484
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 85,548 87,495
Obligations under finance lease and hire purchase contracts - 12,719
85,548 100,214
7 Related party transactions
Eco Gas Solutions Ltd is under the common control of the same director. Eco Gas Solutions Ltd received short-term finance from the company in the year, with an amount outstanding of £75,070.54 at year end.
8 Other information
GAS & ELEC SOLUTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is:
300 St Marys Road
Garston
Liverpool
Merseyside
L19 0NQ
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