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REGISTERED NUMBER: 08410815 (England and Wales)















Financial Statements for the Year Ended 29 February 2024

for

GT Service Ltd

GT Service Ltd (Registered number: 08410815)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GT Service Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: T M Askey





REGISTERED OFFICE: Unit 1D
Follifoot Ridge Business Park
Follifoot
Harrogate
North Yorkshire
HG3 1DP





REGISTERED NUMBER: 08410815 (England and Wales)






GT Service Ltd (Registered number: 08410815)

Statement of Financial Position
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 209,897 173,719

CURRENT ASSETS
Stocks 3,400 3,500
Debtors 5 13,042 16,214
Cash at bank 4,526 64,669
20,968 84,383
CREDITORS
Amounts falling due within one year 6 52,648 24,799
NET CURRENT (LIABILITIES)/ASSETS (31,680 ) 59,584
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,217

233,303

CREDITORS
Amounts falling due after more than one
year

7

76,735

130,636
NET ASSETS 101,482 102,667

CAPITAL AND RESERVES
Called up share capital 10 10
Revaluation reserve 8 17,887 17,887
Other reserves 45,000 125,000
Retained earnings 38,585 (40,230 )
SHAREHOLDERS' FUNDS 101,482 102,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

GT Service Ltd (Registered number: 08410815)

Statement of Financial Position - continued
29 February 2024


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 4 October 2024 and were signed by:





T M Askey - Director


GT Service Ltd (Registered number: 08410815)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

GT Service Ltd 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 as modified by the revaluation of certain assets.

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

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 - 4% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on reducing balance

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

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 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 March 2023 175,982 21,745 23,981 10,417 232,125
Additions 47,683 10,642 - - 58,325
At 29 February 2024 223,665 32,387 23,981 10,417 290,450
DEPRECIATION
At 1 March 2023 22,433 18,556 7,000 10,417 58,406
Charge for year 8,050 8,097 6,000 - 22,147
At 29 February 2024 30,483 26,653 13,000 10,417 80,553
NET BOOK VALUE
At 29 February 2024 193,182 5,734 10,981 - 209,897
At 28 February 2023 153,549 3,189 16,981 - 173,719

GT Service Ltd (Registered number: 08410815)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 29 February 2024 is represented by:

Plant and
machinery
etc
£   
Valuation in 2021 17,887
Cost 272,563
290,450

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 2,640 16,214
Other debtors 10,402 -
13,042 16,214

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 30,663 3,336
Taxation and social security 16,731 20,083
Other creditors 5,254 1,380
52,648 24,799

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 76,735 130,636

8. RESERVES
Revaluation
reserve
£   
At 1 March 2023
and 29 February 2024 17,887