2023-04-012024-03-312024-03-31false05720103G L ELECTRICAL SOLUTIONS 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G L ELECTRICAL SOLUTIONS LIMITED

Registered Number
05720103
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

G L ELECTRICAL SOLUTIONS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Gary Longworth

Registered Address

39 Wellington Road
Rhyl
LL18 1BA

Registered Number

05720103 (England and Wales)
G L ELECTRICAL SOLUTIONS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets33,0004,500
Tangible assets417,1743,341
20,1747,841
Current assets
Debtors55,1741,800
5,1741,800
Creditors amounts falling due within one year6(4,452)(7,387)
Net current assets (liabilities)722(5,587)
Total assets less current liabilities20,8962,254
Creditors amounts falling due after one year7(54,026)(20,789)
Net assets(33,130)(18,535)
Capital and reserves
Called up share capital11
Profit and loss account(33,131)(18,536)
Shareholders' funds(33,130)(18,535)
The financial statements were approved and authorised for issue by the Director on 23 December 2024, and are signed on its behalf by:
Gary Longworth
Director
Registered Company No. 05720103
G L ELECTRICAL SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has personally invested sums into the company in the 2024 year to keep the business afloat whilst also investing into a new venture that is to be operated under the same Ltd company. It is therefore deemed acceptable that the company is a going concern. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Depreciation is calculated so as to write off the cost of an asset over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles20
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Total

£
Cost or valuation
At 01 April 234,500
At 31 March 243,000
Amortisation and impairment
Charge for year1,500
Net book value
At 31 March 243,000
At 31 March 234,500
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 233,341
Additions14,474
At 31 March 2417,815
Depreciation and impairment
Charge for year641
At 31 March 24641
Net book value
At 31 March 2417,174
At 31 March 233,341
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,9251,800
Other debtors2,249-
Total5,1741,800
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables666793
Bank borrowings and overdrafts3,3066,194
Accrued liabilities and deferred income480400
Total4,4527,387
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts4,3049,712
Other creditors49,72211,077
Total54,02620,789