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GASMECH (UK) LIMITED

Unaudited Financial Statements

for the Year Ended 31 January 2024






GASMECH (UK) LIMITED (REGISTERED NUMBER: 07611167)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GASMECH (UK) LIMITED

Company Information
for the year ended 31 January 2024







DIRECTORS: S C Eyles
J M Eyles





REGISTERED OFFICE: Squirrel Hill Farm
Deep Lane
Thornton
Bradford
West Yorkshire
BD13 3SR





REGISTERED NUMBER: 07611167 (England and Wales)





ACCOUNTANTS: Beldenn Limited
Chartered Accountants
First Floor
68 Uppermoor
Pudsey
West Yorkshire
LS28 7EX

GASMECH (UK) LIMITED (REGISTERED NUMBER: 07611167)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 149,192 125,099

CURRENT ASSETS
Stocks 602,871 344,997
Debtors 5 290,786 197,428
Cash at bank 204,293 23,986
1,097,950 566,411
CREDITORS
Amounts falling due within one year 6 743,812 349,951
NET CURRENT ASSETS 354,138 216,460
TOTAL ASSETS LESS CURRENT
LIABILITIES

503,330

341,559

CREDITORS
Amounts falling due after more than one
year

7

(108,733

)

(110,194

)

PROVISIONS FOR LIABILITIES (37,298 ) (20,359 )
NET ASSETS 357,299 211,006

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 357,199 210,906
SHAREHOLDERS' FUNDS 357,299 211,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GASMECH (UK) LIMITED (REGISTERED NUMBER: 07611167)

Balance Sheet - continued
31 January 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 Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





S C Eyles - Director


GASMECH (UK) LIMITED (REGISTERED NUMBER: 07611167)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Gasmech (UK) 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 represents the net invoice value of work done and goods sold, excluding Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

GASMECH (UK) LIMITED (REGISTERED NUMBER: 07611167)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 6,886 3,500 145,574 8,349 164,309
Additions - 1,868 50,440 3,975 56,283
Disposals - - (8,270 ) - (8,270 )
At 31 January 2024 6,886 5,368 187,744 12,324 212,322
DEPRECIATION
At 1 February 2023 4,517 971 29,003 4,719 39,210
Charge for year 356 528 24,358 1,554 26,796
Eliminated on disposal - - (2,876 ) - (2,876 )
At 31 January 2024 4,873 1,499 50,485 6,273 63,130
NET BOOK VALUE
At 31 January 2024 2,013 3,869 137,259 6,051 149,192
At 31 January 2023 2,369 2,529 116,571 3,630 125,099

The net book value of tangible fixed assets includes £ 118,908 (2023 - £ 107,031 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 226,157 91,777
Other debtors 64,629 105,651
290,786 197,428

GASMECH (UK) LIMITED (REGISTERED NUMBER: 07611167)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 31,970 34,277
Trade creditors 266,960 183,648
Taxation and social security 262,615 62,550
Other creditors 182,267 69,476
743,812 349,951

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 25,000 35,000
Hire purchase contracts 83,733 75,194
108,733 110,194

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 25,000 35,000

8. ULTIMATE CONTROLLING PARTY

During the year ended 31st January 2024 and the year ended 31st January 2023, Gasmech (Holdings) Limited controlled the company by virtue of a controlling interest of 100% of the issued ordinary share capital.
Stephen Eyles and Josette Eyles, both directors, controlled Gasmech (Holdings) Limited by virtue of a controlling 100% of the issued ordinary share capital.