Company registration number SC435394 (Scotland)
GAVIA ENVIRONMENTAL LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
GAVIA ENVIRONMENTAL LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GAVIA ENVIRONMENTAL LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
31 October 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
91,528
49,883
Current assets
Debtors
5
344,711
343,543
Cash at bank and in hand
78,595
172,940
423,306
516,483
Creditors: amounts falling due within one year
6
(187,185)
(240,332)
Net current assets
236,121
276,151
Total assets less current liabilities
327,649
326,034
Creditors: amounts falling due after more than one year
7
(30,682)
(9,003)
Provisions for liabilities
(3,221)
(5,731)
Net assets
293,746
311,300
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
293,646
311,200
Total equity
293,746
311,300

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GAVIA ENVIRONMENTAL LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
C Baker
Director
Company Registration No. SC435394
GAVIA ENVIRONMENTAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Gavia Environmental Ltd is a private company limited by shares incorporated in Scotland. The registered office is Inveralmond Business Centre, Auld Bond Road, Perth, United Kingdom, PH1 3FX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Reporting period

The financial period has been increased to 14 months due to the company wanting to align its year end with the calendar year. The previous period is not entirely comparable as it was for 12 months.

1.3
Turnover

Turnover represents the total invoiced sales of ecological surveys, net of Value Added Tax.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% on cost
Fixtures, fittings & equipment
25% on cost
Computer equipment
33% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

GAVIA ENVIRONMENTAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

GAVIA ENVIRONMENTAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was 32 (2022 - 31).

2023
2022
Number
Number
Total
32
31
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2022
74,968
9,942
15,101
96,000
196,011
Additions
705
787
6,015
80,409
87,916
Disposals
-
0
-
0
-
0
(13,379)
(13,379)
At 31 December 2023
75,673
10,729
21,116
163,030
270,548
Depreciation and impairment
At 1 November 2022
62,838
9,353
10,123
63,814
146,128
Depreciation charged in the period
5,817
497
5,016
32,879
44,209
Eliminated in respect of disposals
-
0
-
0
-
0
(11,317)
(11,317)
At 31 December 2023
68,655
9,850
15,139
85,376
179,020
Carrying amount
At 31 December 2023
7,018
879
5,977
77,654
91,528
At 31 October 2022
12,130
589
4,978
32,186
49,883
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
321,646
332,440
Other debtors
23,065
11,103
344,711
343,543
GAVIA ENVIRONMENTAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Obligations under finance leases
20,411
5,443
Trade creditors
104,608
53,233
Corporation tax
2,996
20,592
Other taxation and social security
42,005
140,189
Other creditors
10,902
17,355
Accruals and deferred income
6,263
3,520
187,185
240,332
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Obligations under finance leases
30,682
9,003
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
C Baker - C Bakier
-
15
-
-
15
M Hopkins - M Hopkins
-
9,831
4,193
(9,831)
4,193
9,846
4,193
(9,831)
4,208

The loans are unsecured and repayable on demand.

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