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REGISTERED NUMBER: 06023154 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

GDL Electrical Contractors Limited

GDL Electrical Contractors Limited (Registered number: 06023154)






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


GDL Electrical Contractors Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G D Lewsam





REGISTERED OFFICE: Units 5-6
Pegasus Square
Innovation Way
Grimsby
N E Lincolnshire
DN37 9TJ





REGISTERED NUMBER: 06023154 (England and Wales)

GDL Electrical Contractors Limited (Registered number: 06023154)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 70,789 95,842
70,789 95,842

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 6 286,695 331,739
Cash at bank 138,409 43,605
440,104 390,344
CREDITORS
Amounts falling due within one year 7 213,591 226,353
NET CURRENT ASSETS 226,513 163,991
TOTAL ASSETS LESS CURRENT
LIABILITIES

297,302

259,833

PROVISIONS FOR LIABILITIES 12,747 -
NET ASSETS 284,555 259,833

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 284,554 259,832
SHAREHOLDERS' FUNDS 284,555 259,833

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 director acknowledges his 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.

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 director and authorised for issue on 26 September 2024 and were signed by:





G D Lewsam - Director


GDL Electrical Contractors Limited (Registered number: 06023154)

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

1. STATUTORY INFORMATION

GDL Electrical Contractors 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% Straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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.

GDL Electrical Contractors Limited (Registered number: 06023154)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 4,000
AMORTISATION
At 1 January 2023
and 31 December 2023 4,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 12,232 7,224 152,587 458 172,501
Disposals - - (13,900 ) - (13,900 )
At 31 December 2023 12,232 7,224 138,687 458 158,601
DEPRECIATION
At 1 January 2023 9,522 5,901 60,778 458 76,659
Charge for year 677 331 22,952 - 23,960
Eliminated on disposal - - (12,807 ) - (12,807 )
At 31 December 2023 10,199 6,232 70,923 458 87,812
NET BOOK VALUE
At 31 December 2023 2,033 992 67,764 - 70,789
At 31 December 2022 2,710 1,323 91,809 - 95,842

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 245,012 265,059
Other debtors 41,683 66,680
286,695 331,739

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 37,344 51,360
Trade creditors 15,093 3,784
Taxation and social security 120,119 132,477
Other creditors 41,035 38,732
213,591 226,353

GDL Electrical Contractors Limited (Registered number: 06023154)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 37,344 51,360

The bank overdraft and Hire Purchase Loans are secured by way of a personal guarantee from the Director.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr GD Lewsam, the sole director.