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REGISTERED NUMBER: 07272683 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GKL BUILDING & CIVIL ENGINEERING LTD

GKL BUILDING & CIVIL ENGINEERING LTD (REGISTERED NUMBER: 07272683)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GKL BUILDING & CIVIL ENGINEERING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J A Brackenbury
E M Killoughery





REGISTERED OFFICE: Unit 2
Varity Park
Vicarage Farm Road
Peterborough
Cambridgeshire
PE1 5GU





REGISTERED NUMBER: 07272683 (England and Wales)





ACCOUNTANTS: TC CH Limited
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

GKL BUILDING & CIVIL ENGINEERING LTD (REGISTERED NUMBER: 07272683)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 593,589 441,914

CURRENT ASSETS
Stocks 907,746 1,031,746
Debtors 5 2,088,157 2,004,542
Cash at bank and in hand 81,300 87,691
3,077,203 3,123,979
CREDITORS
Amounts falling due within one year 6 1,486,888 1,158,875
NET CURRENT ASSETS 1,590,315 1,965,104
TOTAL ASSETS LESS CURRENT LIABILITIES 2,183,904 2,407,018

CREDITORS
Amounts falling due after more than one
year

7

(251,848

)

(369,456

)

PROVISIONS FOR LIABILITIES (160,718 ) (161,463 )
NET ASSETS 1,771,338 1,876,099

CAPITAL AND RESERVES
Called up share capital 140 140
Retained earnings 1,771,198 1,875,959
SHAREHOLDERS' FUNDS 1,771,338 1,876,099

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.

GKL BUILDING & CIVIL ENGINEERING LTD (REGISTERED NUMBER: 07272683)

STATEMENT OF FINANCIAL POSITION - 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 Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





J A Brackenbury - Director


GKL BUILDING & CIVIL ENGINEERING LTD (REGISTERED NUMBER: 07272683)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Gkl Building & Civil Engineering Ltd 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover and other income represents value of sales made, excluding value added tax and is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the previously agreed upon payment.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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 reducing balance and 20% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

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 stocks to their present location and condition.

GKL BUILDING & CIVIL ENGINEERING LTD (REGISTERED NUMBER: 07272683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position. 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 the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. 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.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. 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.

3. EMPLOYEES AND DIRECTORS

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

GKL BUILDING & CIVIL ENGINEERING LTD (REGISTERED NUMBER: 07272683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 970,501
Additions 277,909
Disposals (98,814 )
At 31 March 2024 1,149,596
DEPRECIATION
At 1 April 2023 528,587
Charge for year 81,341
Eliminated on disposal (53,921 )
At 31 March 2024 556,007
NET BOOK VALUE
At 31 March 2024 593,589
At 31 March 2023 441,914

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 99,481
Transfer to ownership (99,481 )
Reclassification/transfer 76,525
At 31 March 2024 76,525
DEPRECIATION
At 1 April 2023 32,206
Charge for year 15,306
Transfer to ownership (32,206 )
At 31 March 2024 15,306
NET BOOK VALUE
At 31 March 2024 61,219
At 31 March 2023 67,275

GKL BUILDING & CIVIL ENGINEERING LTD (REGISTERED NUMBER: 07272683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,077 380,850
Amounts owed by connected companies 1,379,387 1,479,868
Prepayments and accrued income 672,693 143,824
2,088,157 2,004,542

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 135,172 122,971
Hire purchase contracts 37,294 22,789
Trade creditors 833,997 533,585
Amounts owed to connected companies 319,757 353,657
Taxation and social security 37,409 51,919
Other creditors 123,259 73,954
1,486,888 1,158,875

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 224,509 354,921
Hire purchase contracts 27,339 14,535
251,848 369,456

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 64,633 37,324

There is an unlimited omnibus guarantee and set off agreement in respect of the liabilities now or hereafter, owing or incurred form or by GKL Holding, GKL Building and Civil Engineering Limited, GKL Northern Limited and College Street Properties Limited.

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £16,000 (2023: £16,000).

10. ULTIMATE CONTROLLING PARTY

The controlling party is E M Killoughery by virtue of their share of the ownership of the issued ordinary share capital.