Company registration number 06126834 (England and Wales)
GBM HEATING, PLUMBING & GAS ENGINEERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
6th Floor Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
GBM HEATING, PLUMBING & GAS ENGINEERS LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
GBM HEATING, PLUMBING & GAS ENGINEERS LTD
COMPANY INFORMATION
- 1 -
Director
Mr G J B Molloy
Secretary
Mr R W Fielder
Company number
06126834
Registered office
182 Stanley Road
Teddington
Middlesex
TW11 8UD
Accountants
TC Group
6th Floor Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
GBM HEATING, PLUMBING & GAS ENGINEERS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,851
10,468
Current assets
Stocks
11,843
66,843
Debtors
201,122
183,858
212,965
250,701
Creditors: amounts falling due within one year
(207,443)
(229,006)
Net current assets
5,522
21,695
Total assets less current liabilities
13,373
32,163
Creditors: amounts falling due after more than one year
(14,901)
(29,178)
Net (liabilities)/assets
(1,528)
2,985
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(1,529)
2,984
Total equity
(1,528)
2,985
GBM HEATING, PLUMBING & GAS ENGINEERS LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2024
28 February 2024
- 3 -
For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 28 December 2024
Mr G J B Molloy
Director
Company registration number 06126834 (England and Wales)
GBM HEATING, PLUMBING & GAS ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
1
Accounting policies
Company information
GBM Heating, Plumbing & Gas Engineers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 182 Stanley Road, Teddington, Middlesex, TW11 8UD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
GBM HEATING, PLUMBING & GAS ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
1
Accounting policies
(Continued)
- 5 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Reducing balance methord
Motor vehicles
25% Reducing balance methord
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
6
GBM HEATING, PLUMBING & GAS ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 6 -
3
Intangible fixed assets
Total
£
Cost
At 1 March 2023 and 28 February 2024
78,378
Amortisation and impairment
At 1 March 2023 and 28 February 2024
78,378
Carrying amount
At 28 February 2024
At 28 February 2023
4
Tangible fixed assets
Total
£
Cost
At 1 March 2023 and 28 February 2024
62,055
Depreciation and impairment
At 1 March 2023
51,587
Depreciation charged in the year
2,617
At 28 February 2024
54,204
Carrying amount
At 28 February 2024
7,851
At 28 February 2023
10,468
5
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr G J B Molloy - Advances
-
48,208
36,419
(25,000)
59,627
48,208
36,419
(25,000)
59,627
GBM HEATING, PLUMBING & GAS ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 7 -
6
Related Party Disclosures
The company was under the control of G Molloy, the sole director and shareholder throughout the current and previous year.