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REGISTERED NUMBER: 09547889 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

GPS Decorators Limited

GPS Decorators Limited (Registered number: 09547889)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GPS Decorators Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G Porter
J E Porter





REGISTERED OFFICE: 46 Landseer Drive
Billingham
Cleveland
TS23 3GF





REGISTERED NUMBER: 09547889 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

GPS Decorators Limited (Registered number: 09547889)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 14,739 16,560

CURRENT ASSETS
Debtors 4 6,119 18,291
Cash at bank and in hand 31,446 39,339
37,565 57,630
CREDITORS
Amounts falling due within one year 5 (34,226 ) (42,705 )
NET CURRENT ASSETS 3,339 14,925
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,078

31,485

CREDITORS
Amounts falling due after more than one year 6 (18,034 ) (25,333 )
NET ASSETS 44 6,152

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (56 ) 6,052
44 6,152

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

GPS Decorators Limited (Registered number: 09547889)

Balance Sheet - continued
31 March 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 29 October 2024 and were signed on its behalf by:




G Porter - Director



J E Porter - Director


GPS Decorators Limited (Registered number: 09547889)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. 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.

The accounts have been prepared under the going concern basis. The company is expected to continue trading for the next twelve months and enjoys the continued financial support of the directors.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

GPS Decorators Limited (Registered number: 09547889)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 18,143 2,987 24,612 1,416 47,158
Additions 2,418 - - 29 2,447
At 31 March 2024 20,561 2,987 24,612 1,445 49,605
DEPRECIATION
At 1 April 2023 9,030 2,444 19,124 - 30,598
Charge for year 2,399 136 1,372 361 4,268
At 31 March 2024 11,429 2,580 20,496 361 34,866
NET BOOK VALUE
At 31 March 2024 9,132 407 4,116 1,084 14,739
At 31 March 2023 9,113 543 5,488 1,416 16,560

Included in the net book value above are assets held under hire purchase contracts. The net book value of these assets at the balance sheet date is £2,508(2023: £3,434).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,707 18,291
Directors' current accounts 3,412 -
6,119 18,291

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,549 5,879
Corporation tax 14,576 17,193
Social security and other tax 766 466
VAT 4,056 2,579
Other creditors 8,557 6,330
Directors' current accounts - 5,436
Accrued expenses 3,722 4,822
34,226 42,705

GPS Decorators Limited (Registered number: 09547889)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans (see note 7) 18,034 25,333

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due between one and two years:
Other loans - 1-2 years 18,034 25,333

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
G Porter
Balance outstanding at start of year (3,153 ) (8,374 )
Amounts advanced 4,736 5,859
Amounts repaid (312 ) (638 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,271 (3,153 )

J E Porter
Balance outstanding at start of year (2,283 ) (6,645 )
Amounts advanced 4,736 5,000
Amounts repaid (312 ) (638 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,141 (2,283 )