Company Registration No. 03980506 (England and Wales)
G.V. Engineering Limited
Unaudited accounts
for the year ended 30 April 2024
G.V. Engineering Limited
Unaudited accounts
Contents
G.V. Engineering Limited
Company Information
for the year ended 30 April 2024
Directors
Mr Alan Scott Richardson
Mr Allan Scott Richardson Jnr
Company Number
03980506 (England and Wales)
Registered Office
Coquet Enterprise Park, Amble Ind. Est.
Amble
NE65 3PE
GB
Accountants
Abacus Jack Ltd
New Century House
Crowther Road
Washington
Tyne and Wear
NE38 0QA
G.V. Engineering Limited
Statement of financial position
as at 30 April 2024
Intangible assets
135,000
135,000
Tangible assets
462,910
316,892
Inventories
117,905
149,283
Cash at bank and in hand
257,707
377,695
Creditors: amounts falling due within one year
(385,382)
(542,516)
Net current assets
897,651
837,395
Total assets less current liabilities
1,495,561
1,289,287
Creditors: amounts falling due after more than one year
(131,141)
(153,333)
Provisions for liabilities
Net assets
1,248,692
1,135,954
Called up share capital
1,001
1,001
Profit and loss account
1,247,691
1,134,953
Shareholders' funds
1,248,692
1,135,954
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by
Mr Alan Scott Richardson
Director
Company Registration No. 03980506
G.V. Engineering Limited
Notes to the Accounts
for the year ended 30 April 2024
G.V. Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 03980506. The registered office is Coquet Enterprise Park, Amble Ind. Est., Amble, NE65 3PE, GB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25-33% Reducing balance
Motor vehicles
25% Reducing balance
Computer equipment
33% Reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
G.V. Engineering Limited
Notes to the Accounts
for the year ended 30 April 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2023
296,646
154,010
8,007
458,663
Additions
301,137
-
-
301,137
Disposals
-
(27,750)
-
(27,750)
At 30 April 2024
597,783
126,260
8,007
732,050
At 1 May 2023
46,373
92,508
2,890
141,771
Charge for the year
137,853
8,438
1,689
147,980
On disposals
-
(20,611)
-
(20,611)
At 30 April 2024
184,226
80,335
4,579
269,140
At 30 April 2024
413,557
45,925
3,428
462,910
At 30 April 2023
250,273
61,502
5,117
316,892
Amounts falling due within one year
Trade debtors
876,401
820,416
Accrued income and prepayments
13,624
-
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
34,192
40,000
Obligations under finance leases and hire purchase contracts
7,625
-
Trade creditors
135,298
376,178
Taxes and social security
56,276
106,976
Other creditors
50,093
19,362
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
131,141
153,333
9
Average number of employees
During the year the average number of employees was 40 (2023: 40).