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COMPANY REGISTRATION NUMBER: 12759571
GE Civil Engineering Limited
Filleted Unaudited Financial Statements
31 January 2024
GE Civil Engineering Limited
Financial Statements
Period from 1 August 2023 to 31 January 2024
Contents
Page
Officers and professional advisers
1
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
GE Civil Engineering Limited
Officers and Professional Advisers
The board of directors
Mr P Jones
Mr S Finn (Resigned 29 February 2024)
Mr C Broadbent (Appointed 1 July 2024)
Registered office
15 Barnsdale
Great Easton
Market Harborough
England
LE16 8SG
Accountants
A Plus Accountants Limited
Accountants
10 Canberra House
Corbygate Business Park
Corby
Northants
NN17 5JG
GE Civil Engineering Limited
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of GE Civil Engineering Limited
Period from 1 August 2023 to 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GE Civil Engineering Limited for the period ended 31 January 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of GE Civil Engineering Limited, as a body, in accordance with the terms of our engagement letter dated 4 November 2020. Our work has been undertaken solely to prepare for your approval the financial statements of GE Civil Engineering Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GE Civil Engineering Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that GE Civil Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GE Civil Engineering Limited. You consider that GE Civil Engineering Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of GE Civil Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
A Plus Accountants Limited Accountants
10 Canberra House Corbygate Business Park Corby Northants NN17 5JG
29 October 2024
GE Civil Engineering Limited
Statement of Financial Position
31 January 2024
31 Jan 24
31 Jul 23
Note
£
£
Fixed assets
Tangible assets
4
12,146
13,496
Current assets
Stocks
12,000
12,000
Debtors
5
1,586,675
1,708,326
Cash at bank and in hand
139,627
416,304
------------
------------
1,738,302
2,136,630
Creditors: amounts falling due within one year
6
1,994,378
2,410,131
------------
------------
Net current liabilities
256,076
273,501
---------
---------
Total assets less current liabilities
( 243,930)
( 260,005)
---------
---------
Net liabilities
( 243,930)
( 260,005)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 244,030)
( 260,105)
---------
---------
Shareholders deficit
( 243,930)
( 260,005)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GE Civil Engineering Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 29 October 2024 , and are signed on behalf of the board by:
Mr P Jones
Director
Company registration number: 12759571
GE Civil Engineering Limited
Notes to the Financial Statements
Period from 1 August 2023 to 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Barnsdale, Great Easton, Market Harborough, LE16 8SG, England.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
3. Employee numbers
The average number of persons employed by the company during the period amounted to 5 (2023: 5 ).
4. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 August 2023 and 31 January 2024
8,834
4,557
10,646
24,037
-------
-------
--------
--------
Depreciation
At 1 August 2023
3,676
1,995
4,870
10,541
Charge for the period
516
256
578
1,350
-------
-------
--------
--------
At 31 January 2024
4,192
2,251
5,448
11,891
-------
-------
--------
--------
Carrying amount
At 31 January 2024
4,642
2,306
5,198
12,146
-------
-------
--------
--------
At 31 July 2023
5,158
2,562
5,776
13,496
-------
-------
--------
--------
5. Debtors
31 Jan 24
31 Jul 23
£
£
Trade debtors
831,027
1,016,977
Other debtors
755,648
691,349
------------
------------
1,586,675
1,708,326
------------
------------
6. Creditors: amounts falling due within one year
31 Jan 24
31 Jul 23
£
£
Trade creditors
956,763
1,263,795
Corporation tax
581
Social security and other taxes
9,918
10,423
Other creditors
1,027,697
1,135,332
------------
------------
1,994,378
2,410,131
------------
------------
7. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
31 Jan 24
31 Jul 23
£
£
Not later than 1 year
929
929
Later than 1 year and not later than 5 years
1,857
2,321
-------
-------
2,786
3,250
-------
-------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024 2023
£ £
Balance brought forward 445 (85,060)
Advances/ (credits) to the directors 85,505
---- --------
Balance outstanding carried forward 445 445
---- --------
The amounts outstanding at the year end are interest free and repayable on demand.