Gap Electrical & Mechanical Services Ltd 04976977 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is electrical installation Digita Accounts Production Advanced 6.30.9574.0 true true 04976977 2023-04-01 2024-03-31 04976977 2024-03-31 04976977 bus:OrdinaryShareClass1 2024-03-31 04976977 core:RetainedEarningsAccumulatedLosses 2024-03-31 04976977 core:ShareCapital 2024-03-31 04976977 core:CurrentFinancialInstruments 2024-03-31 04976977 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04976977 core:LandBuildings 2024-03-31 04976977 core:MotorVehicles 2024-03-31 04976977 core:OtherPropertyPlantEquipment 2024-03-31 04976977 bus:SmallEntities 2023-04-01 2024-03-31 04976977 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04976977 bus:FullAccounts 2023-04-01 2024-03-31 04976977 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04976977 bus:RegisteredOffice 2023-04-01 2024-03-31 04976977 bus:Director1 2023-04-01 2024-03-31 04976977 bus:Director2 2023-04-01 2024-03-31 04976977 bus:Director3 2023-04-01 2024-03-31 04976977 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04976977 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04976977 core:LandBuildings 2023-04-01 2024-03-31 04976977 core:MotorVehicles 2023-04-01 2024-03-31 04976977 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 04976977 core:PlantMachinery 2023-04-01 2024-03-31 04976977 countries:EnglandWales 2023-04-01 2024-03-31 04976977 2023-03-31 04976977 core:LandBuildings 2023-03-31 04976977 core:MotorVehicles 2023-03-31 04976977 core:OtherPropertyPlantEquipment 2023-03-31 04976977 2022-04-01 2023-03-31 04976977 2023-03-31 04976977 bus:OrdinaryShareClass1 2023-03-31 04976977 core:RetainedEarningsAccumulatedLosses 2023-03-31 04976977 core:ShareCapital 2023-03-31 04976977 core:CurrentFinancialInstruments 2023-03-31 04976977 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04976977 core:LandBuildings 2023-03-31 04976977 core:MotorVehicles 2023-03-31 04976977 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04976977

Gap Electrical & Mechanical Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Gap Electrical & Mechanical Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Gap Electrical & Mechanical Services Ltd

Company Information

Directors

Mr P O McBreeze

Mrs M McBreeze

Mr G W Roberts

Registered office

Unit 21
Conwy Morfa Business Park
Ffordd Sam Pari
Conwy
LL32 8HH

Accountants

Aston Hughes & Co
Chartered Accountants
Selby Towers
29 Princes Drive
Colwyn Bay
LL29 8PE

 

Gap Electrical & Mechanical Services Ltd

(Registration number: 04976977)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

21,713

28,951

Current assets

 

Stocks

5

1,264

1,264

Debtors

6

188,491

184,612

Cash at bank and in hand

 

1,153,341

1,048,249

 

1,343,096

1,234,125

Creditors: Amounts falling due within one year

7

(212,948)

(155,475)

Net current assets

 

1,130,148

1,078,650

Net assets

 

1,151,861

1,107,601

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

1,151,661

1,107,401

Shareholders' funds

 

1,151,861

1,107,601

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

.........................................
Mr P O McBreeze
Director

 

Gap Electrical & Mechanical Services Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 21
Conwy Morfa Business Park
Ffordd Sam Pari
Conwy
LL32 8HH

These financial statements were authorised for issue by the Board on 25 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Gap Electrical & Mechanical Services Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Motor vehicles

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 13).

 

Gap Electrical & Mechanical Services Ltd

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

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

3,215

148,942

133,769

285,926

At 31 March 2024

3,215

148,942

133,769

285,926

Depreciation

At 1 April 2023

2,198

131,057

123,720

256,975

Charge for the year

254

4,472

2,512

7,238

At 31 March 2024

2,452

135,529

126,232

264,213

Carrying amount

At 31 March 2024

763

13,413

7,537

21,713

At 31 March 2023

1,017

17,885

10,049

28,951

Included within the net book value of land and buildings above is £763 (2023 - £1,017) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

1,264

1,264

6

Debtors

 

Gap Electrical & Mechanical Services Ltd

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

Current

2024
£

2023
£

Trade debtors

176,657

172,431

Prepayments

11,834

12,181

 

188,491

184,612

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

18,411

2,475

Taxation and social security

134,561

92,127

Accruals and deferred income

39,876

45,332

Other creditors

20,100

15,541

212,948

155,475

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200