Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29falsetrue2023-03-01No description of principal activity33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC620563 2023-03-01 2024-02-29 SC620563 2022-03-01 2023-02-28 SC620563 2024-02-29 SC620563 2023-02-28 SC620563 c:Director1 2023-03-01 2024-02-29 SC620563 c:RegisteredOffice 2023-03-01 2024-02-29 SC620563 d:PlantMachinery 2023-03-01 2024-02-29 SC620563 d:PlantMachinery 2024-02-29 SC620563 d:PlantMachinery 2023-02-28 SC620563 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC620563 d:MotorVehicles 2023-03-01 2024-02-29 SC620563 d:MotorVehicles 2024-02-29 SC620563 d:MotorVehicles 2023-02-28 SC620563 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC620563 d:OfficeEquipment 2023-03-01 2024-02-29 SC620563 d:OfficeEquipment 2024-02-29 SC620563 d:OfficeEquipment 2023-02-28 SC620563 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC620563 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC620563 d:CurrentFinancialInstruments 2024-02-29 SC620563 d:CurrentFinancialInstruments 2023-02-28 SC620563 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 SC620563 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 SC620563 d:ShareCapital 2024-02-29 SC620563 d:ShareCapital 2023-02-28 SC620563 d:RetainedEarningsAccumulatedLosses 2024-02-29 SC620563 d:RetainedEarningsAccumulatedLosses 2023-02-28 SC620563 c:FRS102 2023-03-01 2024-02-29 SC620563 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC620563 c:FullAccounts 2023-03-01 2024-02-29 SC620563 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC620563 4 2023-03-01 2024-02-29 SC620563 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Registered number: SC620563










G & S WELDING & FABRICATING MONTROSE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

 
G & S WELDING & FABRICATING MONTROSE LIMITED
 

COMPANY INFORMATION


DIRECTOR
Gordon Ogilvie 




REGISTERED NUMBER
SC620563



REGISTERED OFFICE
Unit 9 Broomfield Road, Broomfield Industrial Estate

Montrose

DD10 8SY




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
G & S WELDING & FABRICATING MONTROSE LIMITED
REGISTERED NUMBER: SC620563

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
£
£

FIXED ASSETS
  

Tangible fixed assets
  
18,221
22,232

  
18,221
22,232

CURRENT ASSETS
  

Stocks
  
-
297

Debtors: amounts falling due within one year
 5 
22,937
34,522

Cash at bank and in hand
  
70,721
13,177

  
93,658
47,996

Creditors: amounts falling due within one year
 6 
(64,247)
(69,321)

NET CURRENT ASSETS/(LIABILITIES)
  
 
 
29,411
 
 
(21,325)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
47,632
907

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(2,129)
(1,976)

  
 
 
(2,129)
 
 
(1,976)

NET ASSETS/(LIABILITIES)
  
45,503
(1,069)


CAPITAL AND RESERVES
  

Called up share capital 
  
1
1

Profit and loss account
  
45,502
(1,070)

  
45,503
(1,069)


Page 1

 
G & S WELDING & FABRICATING MONTROSE LIMITED
REGISTERED NUMBER: SC620563

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 October 2024.




Gordon Ogilvie
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
G & S WELDING & FABRICATING MONTROSE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


GENERAL INFORMATION

G & S Welding & Fabricating Montrose Limited is a private company, limited by shares, incorporated in Scotland, Registration number SC620563. The registered office and principal place of business address is Unit 9 Broomfield Road, Broomfield Industrial Estate, Montrose, Angus, DD10 8SY

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

EXCEPTIONAL ITEMS

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
G & S WELDING & FABRICATING MONTROSE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
13%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.7

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2023 - 3)

Page 4

 
G & S WELDING & FABRICATING MONTROSE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


TANGIBLE FIXED ASSETS







Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



COST OR VALUATION


At 1 March 2023
23,110
18,510
1,886
43,506



At 29 February 2024

23,110
18,510
1,886
43,506



DEPRECIATION


At 1 March 2023
13,896
6,111
1,267
21,274


Charge for the year on owned assets
2,306
1,550
155
4,011



At 29 February 2024

16,202
7,661
1,422
25,285



NET BOOK VALUE



At 29 February 2024
6,908
10,849
464
18,221



At 28 February 2023
9,214
12,399
619
22,232


5.


DEBTORS

29 February
28 February
2024
2023
£
£


Trade debtors
22,478
34,153

Prepayments and accrued income
459
369

22,937
34,522


Page 5

 
G & S WELDING & FABRICATING MONTROSE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29 February
28 February
2024
2023
£
£

Trade creditors
1,580
408

Other taxation and social security
25,171
17,017

Obligations under finance lease and hire purchase contracts
-
588

Other creditors
20,149
36,716

Accruals and deferred income
17,347
14,592

64,247
69,321



7.


RELATED PARTY TRANSACTIONS

During the previous year the loan to Gordon Ogilvie Transport Limited was written off. Both related parties are controlled by the same majority shareholder.


Page 6