Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-072024-02-07falseNo description of principal activity2023-02-0844truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11000631 2023-02-08 2024-02-07 11000631 2022-11-01 2023-02-07 11000631 2024-02-07 11000631 2023-02-07 11000631 c:Director1 2023-02-08 2024-02-07 11000631 d:PlantMachinery 2023-02-08 2024-02-07 11000631 d:PlantMachinery 2024-02-07 11000631 d:PlantMachinery 2023-02-07 11000631 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-08 2024-02-07 11000631 d:CurrentFinancialInstruments 2024-02-07 11000631 d:CurrentFinancialInstruments 2023-02-07 11000631 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-07 11000631 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-07 11000631 d:ShareCapital 2024-02-07 11000631 d:ShareCapital 2023-02-07 11000631 d:RetainedEarningsAccumulatedLosses 2024-02-07 11000631 d:RetainedEarningsAccumulatedLosses 2023-02-07 11000631 c:OrdinaryShareClass1 2023-02-08 2024-02-07 11000631 c:OrdinaryShareClass1 2024-02-07 11000631 c:OrdinaryShareClass1 2023-02-07 11000631 c:FRS102 2023-02-08 2024-02-07 11000631 c:AuditExempt-NoAccountantsReport 2023-02-08 2024-02-07 11000631 c:FullAccounts 2023-02-08 2024-02-07 11000631 c:PrivateLimitedCompanyLtd 2023-02-08 2024-02-07 11000631 2 2023-02-08 2024-02-07 11000631 e:PoundSterling 2023-02-08 2024-02-07 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 11000631














GSE TRUCKSTOP DEVELOPMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 7 FEBRUARY 2024

 
GSE TRUCKSTOP DEVELOPMENTS LIMITED
REGISTERED NUMBER: 11000631

BALANCE SHEET
AS AT 7 FEBRUARY 2024

2024
2023
Note

Fixed assets
  

Tangible assets
 4 
7,325
10,014

Current assets
  

Stocks
  
22,197,205
19,566,732

Debtors: amounts falling due within one year
 5 
23,561,460
15,067,964

Cash at bank and in hand
 6 
6,302
73

  
45,764,967
34,634,769

Creditors: amounts falling due within one year
 7 
(37,562,723)
(26,264,368)

Net current assets
  
 
 
8,202,244
 
 
8,370,401

Total assets less current liabilities
  
8,209,569
8,380,415

Net assets
  
£8,209,569
£8,380,415


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
8,209,568
8,380,414

  
£8,209,569
£8,380,415


Page 1

 
GSE TRUCKSTOP DEVELOPMENTS LIMITED
REGISTERED NUMBER: 11000631

BALANCE SHEET (CONTINUED)
AS AT 7 FEBRUARY 2024

The directors consider 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 directors acknowledge their 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 6 November 2024.




___________________________
Mr D M Healey
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
GSE TRUCKSTOP DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 7 FEBRUARY 2024

1.


General information

GSE Truckstop Developments Limited is a private company, limited by shares, incorporated in England and Wales. The company registration number is 11000631. 
The registered office is Henwood House, Henwood, Ashford, Kent, TN24 8DH.
The principal place of business of the company is GSE House, Paper Lane, Willesborough, Ashford, Kent, TN24 0TS.

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

Going concern

The company is reliant on continued support from its finance providers and related companies which has continued since the balance sheet date.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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.

Page 3

 
GSE TRUCKSTOP DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 7 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

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 4

 
GSE TRUCKSTOP DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 7 FEBRUARY 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20 - 33% straight line

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.

 
2.10

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 balance sheet 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

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.

Page 5

 
GSE TRUCKSTOP DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 7 FEBRUARY 2024

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
4
4


4.


Tangible fixed assets





Plant and machinery



Cost or valuation


At 8 February 2023
20,379



At 7 February 2024

20,379



Depreciation


At 8 February 2023
10,365


Charge for the year on owned assets
2,689



At 7 February 2024

13,054



Net book value



At 7 February 2024
£7,325



At 7 February 2023
£10,014

Page 6

 
GSE TRUCKSTOP DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 7 FEBRUARY 2024

5.


Debtors

2024
2023


Trade debtors
35,820
-

Other debtors
23,195,181
14,743,854

Prepayments and accrued income
276,193
324,110

Deferred taxation
54,266
-

£23,561,460
£15,067,964



6.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
£6,302
£73



7.


Creditors: Amounts falling due within one year

2024
2023

Other loans
32,832,769
19,994,457

Trade creditors
270,390
93,743

Corporation tax
26,265
1,015,005

Other taxation and social security
171,843
190,199

Other creditors
24,651
3,307,680

Accruals and deferred income
4,236,805
1,663,284

£37,562,723
£26,264,368


The following liabilities were secured:

2024
2023



Other loans
32,832,769
19,994,457

Details of security provided:

Other loans are secured via a fixed and floating charge over the assets concerned.


8.


Share capital

2024
2023
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.0
£1
£1


Page 7

 
GSE TRUCKSTOP DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 7 FEBRUARY 2024

9.


Related party transactions

The Company has provided funds to companies under the control of the directors of the Company. At the balance sheet date £23,162,159 was due from these companies (2023 - £10,715,791). All balances are interest free and repayable on demand.


10.
Controlling party 

There is no single controlling party.
At the balance sheet date, the immediate parent undertaking is GSE Truckstop Developments (Holdings) Limited, a company incorporated in England and Wales. 
The company is exempt from the requirement of preparing consolidated financial statements as it is a subsidiary undertaking of a small group under section 383 of the Companies Act 2006.


Page 8