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Logo On Report
Registered Number: 08881023
England and Wales

 

 

 

GP TILING (NORTHWEST) LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of GP Tiling (Northwest) LTD for the year ended 29 February 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at


http://rulebook.accaglobal.com.




This report is made solely to the member of GP Tiling (Northwest) LTD, as a body, in accordance with the terms of our engagement letter dated 23 June 2016. Our work has been undertaken solely to prepare for your approval the accounts of GP Tiling (Northwest) LTD and state those matters that we have agreed to state to the Board of GP Tiling (Northwest) LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at


http://www.accaglobal.com/factsheet163.


To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GP Tiling (Northwest) LTD and its members as a body for our work or for this report.

It is your duty to ensure that GP Tiling (Northwest) LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Loss of GP Tiling (Northwest) LTD. You consider that GP Tiling (Northwest) LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of GP Tiling (Northwest) LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.


Mr Simon Waters FCCA FMAAT
SJW Accountants

Casterton Suite, CHBC
Burton in Kendal
Carnforth
Lancashire
LA6 1NU
27 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 31,819    8,625 
31,819    8,625 
Current assets      
Stocks   8,600 
Debtors: amounts falling due within one year 81,098    64,272 
Cash at bank and in hand 1,823    84,005 
82,921    156,877 
Creditors: amount falling due within one year (10,612)   (28,140)
Net current assets 72,309    128,737 
 
Total assets less current liabilities 104,128    137,362 
Creditors: amount falling due after more than one year   (10,845)
Provisions for liabilities (1,639)   (1,639)
Net assets 102,489    124,878 
 

Capital and reserves
     
Called up share capital 4 2    2 
Profit and loss account 102,487    124,876 
Shareholders' funds 102,489    124,878 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 27 November 2024 and were signed by:


-------------------------------
Gary Isles
Director
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General Information
GP Tiling (Northwest) LTD is a private company, limited by shares, registered in England and Wales, registration number 08881023, registration address Sunny Bank, Park Road, Milnthorpe, Cumbria, LA7 7AD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Straight Line
Motor Vehicles 25% Reducing Balance
Computer Equipment 33.33% Straight Line
Inventory
Inventories are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 March 2023 1,853    37,012    749    39,614 
Additions   30,500      30,500 
Disposals      
At 29 February 2024 1,853    67,512    749    70,114 
Depreciation
At 01 March 2023 1,754    28,486    749    30,989 
Charge for year 85    7,221      7,306 
On disposals      
At 29 February 2024 1,839    35,707    749    38,295 
Net book values
Closing balance as at 29 February 2024 14    31,805      31,819 
Opening balance as at 01 March 2023 99    8,526      8,625 


4.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Mr G Isles(36,467)36,467 

Mr G Isles owed the company £36,467.46 at the year end. (Nil 2022)
3