REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
G-FRAME STRUCTURES LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
G-FRAME STRUCTURES LIMITED |
G-FRAME STRUCTURES LIMITED (REGISTERED NUMBER: 07482792) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
G-FRAME STRUCTURES LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
G-FRAME STRUCTURES LIMITED (REGISTERED NUMBER: 07482792) |
BALANCE SHEET |
31 December 2023 |
31.12.23 | 31.12.22 |
(Unaudited) |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
G-FRAME STRUCTURES LIMITED (REGISTERED NUMBER: 07482792) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
G-Frame Structures Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The deficit on shareholder’s funds at year end date amounted to £175,262, with an amount of £342,479 due to a group company. The financial statements have been prepared on a going concern basis as the group company has agreed not to seek repayment of this amount if this would in any way impair the operations of the company. In addition, the directors are confident of continued improvements in operations to ensure that sufficient finance will be available to discharge all third party liabilities at the amounts at which they are stated. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover relates to the provision of construction and related services, and is recognised in line with underlying contractual work completion stages as agreed with customers. |
Turnover is measured at the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales taxes or duty |
Tangible fixed assets |
Plant and machinery etc | - |
Tangible fixed assets are recognised at initial cost, less depreciation as calculated in line with the above. |
Work-in-progress |
Work in progress represents services to the extent of materials used and work completed as at the year end, taking due allowance for any expected losses realised or anticipated at that date. |
Financial instruments |
Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102. |
G-FRAME STRUCTURES LIMITED (REGISTERED NUMBER: 07482792) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Tax assets and associated balances arising from R&D claims are recognised in the period in which the R&D claim is made, upon confirmation of acceptance by HMRC. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 |
G-FRAME STRUCTURES LIMITED (REGISTERED NUMBER: 07482792) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
(Unaudited) |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
(Unaudited) |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors & accruals |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
G-FRAME STRUCTURES LIMITED (REGISTERED NUMBER: 07482792) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
As stated above, the Report of the Auditors was unqualified. It did however contain the following modification:- |
"Other matters which we are required to address |
The financial statements for the previous accounting period were not audited." |
We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:- |
"Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed." |
9. | CONTINGENT ASSETS |
It is the Company's intention to complete a research and development tax credit claim relating to expenses incurred in the year. At this time it is probable that there will be a future inflow of economic benefits to the entity, however, the value of this benefit is not able to be estimated reliably at the time of approval of these financial statements. |
10. | ULTIMATE PARENT COMPANY |
The immediate and ultimate parent company of G-Frame Structures Limited is Murform Holdings Ltd, a company incorporated in Ireland. |
The registered address of the company is Growtown, Barntown, Co.Wexford, Y35 XF68. Consolidated financial statements are not publicly available. |