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REGISTERED NUMBER: 03283242 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

The Gas Company (UK) Limited

The Gas Company (UK) Limited (Registered number: 03283242)






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


The Gas Company (UK) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr I Corlyon
Mr K R Barnes
Mrs E Corlyon
Ms J Greenwood
Mr M G Cross
Mrs J Findlay





SECRETARY: Ms J Greenwood





REGISTERED OFFICE: 1 Bontoft Avenue
National Avenue
Hull
East Yorkshire
HU5 4HF





REGISTERED NUMBER: 03283242 (England and Wales)






The Gas Company (UK) Limited (Registered number: 03283242)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 483,455 389,060

CURRENT ASSETS
Stocks 64,000 60,500
Debtors 5 1,549,061 1,322,268
Cash at bank 824,254 811,259
2,437,315 2,194,027
CREDITORS
Amounts falling due within one year 6 1,641,850 1,613,508
NET CURRENT ASSETS 795,465 580,519
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,278,920

969,579

CREDITORS
Amounts falling due after more than one
year

7

(148,774

)

(81,129

)

PROVISIONS FOR LIABILITIES (106,429 ) (71,462 )
NET ASSETS 1,023,717 816,988

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 1,023,607 816,878
1,023,717 816,988

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.

The Gas Company (UK) Limited (Registered number: 03283242)

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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by:




Ms J Greenwood - Director



Mr M G Cross - Director


The Gas Company (UK) Limited (Registered number: 03283242)

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

1. STATUTORY INFORMATION

The Gas Company (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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 net invoiced goods & services, excluding Value Added Tax.

Revenue recognition
Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company receives a right to consideration from its performance.

Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on their fair value of the right to consideration at the balance sheet date.

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 etc - 33% on cost, 25% on reducing balance, 15% on cost, 15% on reducing balance and 10% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of costs and and estimated selling price less costs to complete and sell.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which its related revenue is recognised. The amount of any write-down of stocks to net realisable value and losses of stocks are recognised as an expenses in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.


The Gas Company (UK) Limited (Registered number: 03283242)

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

2. ACCOUNTING POLICIES - continued
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.

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 104 (2023 - 101 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 972,156
Additions 248,106
Disposals (30,367 )
At 31 March 2024 1,189,895
DEPRECIATION
At 1 April 2023 583,096
Charge for year 152,273
Eliminated on disposal (28,929 )
At 31 March 2024 706,440
NET BOOK VALUE
At 31 March 2024 483,455
At 31 March 2023 389,060

The Gas Company (UK) Limited (Registered number: 03283242)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 164,076
Additions 222,887
Transfer to ownership (28,635 )
At 31 March 2024 358,328
DEPRECIATION
At 1 April 2023 29,017
Charge for year 73,496
Transfer to ownership (17,812 )
At 31 March 2024 84,701
NET BOOK VALUE
At 31 March 2024 273,627
At 31 March 2023 135,059

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,498,161 1,287,414
Other debtors 50,900 34,854
1,549,061 1,322,268

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 8) 64,193 27,388
Trade creditors 908,480 1,040,348
Taxation and social security 582,957 498,148
Other creditors 86,220 47,624
1,641,850 1,613,508

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 8) 148,774 81,129

The Gas Company (UK) Limited (Registered number: 03283242)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Gross obligations repayable:
Within one year 77,631 33,571
Between one and five years 180,681 102,106
258,312 135,677

Finance charges repayable:
Within one year 13,438 6,183
Between one and five years 31,907 20,977
45,345 27,160

Net obligations repayable:
Within one year 64,193 27,388
Between one and five years 148,774 81,129
212,967 108,517

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 81,140 55,189
Between one and five years 107,448 74,822
188,588 130,011

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 212,967 108,517

Amounts included within hire purchase are secured on the assets they relate to.

10. RELATED PARTY DISCLOSURES

The directors' pension scheme owns the land and buildings on the National Avenue Industrial Estate from which the company operates. The rent paid to the pension scheme amounted to £18,200 (2023 - £30,250).

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.