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REGISTERED NUMBER: 05774698 (England and Wales)






Unaudited Financial Statements for the Year Ended 31 March 2024

for

G.C.M. Formworks Limited

G.C.M. Formworks Limited (Registered number: 05774698)






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


G.C.M. Formworks Limited

Company Information
for the Year Ended 31 March 2024







Director: G C Mccullagh





Registered office: 25 Henblas
Flint Mountain
Flint
Flintshire
CH6 5PW





Registered number: 05774698 (England and Wales)





Accountants: Ridgway and Company
The Office,
Ffordd Pentre Bach,
Nercwys.
Mold
Flintshire
CH7 4EG

G.C.M. Formworks Limited (Registered number: 05774698)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 24,153 30,745

CURRENT ASSETS
Inventories 21,261 25,000
Debtors 5 192,429 210,213
Cash at bank 61,444 82,696
275,134 317,909
CREDITORS
Amounts falling due within one year 6 13,182 11,036
NET CURRENT ASSETS 261,952 306,873
TOTAL ASSETS LESS CURRENT
LIABILITIES

286,105

337,618

PROVISIONS FOR LIABILITIES 4,569 5,817
NET ASSETS 281,536 331,801

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 281,436 331,701
SHAREHOLDERS' FUNDS 281,536 331,801

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 director acknowledges his 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.

G.C.M. Formworks Limited (Registered number: 05774698)

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 director and authorised for issue on 12 November 2024 and were signed by:





G C Mccullagh - Director


G.C.M. Formworks Limited (Registered number: 05774698)

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

1. STATUTORY INFORMATION

G.C.M. Formworks 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.

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
Revenue 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
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

G.C.M. Formworks Limited (Registered number: 05774698)

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 46,507 48,027 460 94,994
Additions 1,352 - - 1,352
At 31 March 2024 47,859 48,027 460 96,346
DEPRECIATION
At 1 April 2023 25,350 38,444 455 64,249
Charge for year 5,547 2,395 2 7,944
At 31 March 2024 30,897 40,839 457 72,193
NET BOOK VALUE
At 31 March 2024 16,962 7,188 3 24,153
At 31 March 2023 21,157 9,583 5 30,745

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 38,312 25,360
Other debtors 154,117 184,853
192,429 210,213

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 3,644 2,536
Taxation and social security 7,600 -
Other creditors 1,938 8,500
13,182 11,036

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
50 Ordinary 'A' shares 1 50 50
50 Ordinary 'B' shares 1 50 50
100 100