Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30102023-07-01falsebuilding and refurbishment contractors10truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03212280 2023-07-01 2024-06-30 03212280 2022-07-01 2023-06-30 03212280 2024-06-30 03212280 2023-06-30 03212280 c:Director1 2023-07-01 2024-06-30 03212280 d:PlantMachinery 2023-07-01 2024-06-30 03212280 d:PlantMachinery 2024-06-30 03212280 d:PlantMachinery 2023-06-30 03212280 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03212280 d:MotorVehicles 2023-07-01 2024-06-30 03212280 d:MotorVehicles 2024-06-30 03212280 d:MotorVehicles 2023-06-30 03212280 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03212280 d:OfficeEquipment 2023-07-01 2024-06-30 03212280 d:OfficeEquipment 2024-06-30 03212280 d:OfficeEquipment 2023-06-30 03212280 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03212280 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03212280 d:CurrentFinancialInstruments 2024-06-30 03212280 d:CurrentFinancialInstruments 2023-06-30 03212280 d:Non-currentFinancialInstruments 2024-06-30 03212280 d:Non-currentFinancialInstruments 2023-06-30 03212280 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 03212280 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03212280 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 03212280 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 03212280 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 03212280 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 03212280 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 03212280 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 03212280 d:ShareCapital 2024-06-30 03212280 d:ShareCapital 2023-06-30 03212280 d:RetainedEarningsAccumulatedLosses 2024-06-30 03212280 d:RetainedEarningsAccumulatedLosses 2023-06-30 03212280 c:FRS102 2023-07-01 2024-06-30 03212280 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03212280 c:FullAccounts 2023-07-01 2024-06-30 03212280 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03212280 2 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 03212280






GPL PROJECTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










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GPL PROJECTS LIMITED
REGISTERED NUMBER:03212280

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
50,870
8,588

  
50,870
8,588

Current assets
  

Stocks
 5 
25,437
73,138

Debtors: amounts falling due within one year
 6 
525,154
481,583

Cash at bank and in hand
 7 
704,147
382,231

  
1,254,738
936,952

Creditors: amounts falling due within one year
 8 
(287,873)
(225,546)

Net current assets
  
 
 
966,865
 
 
711,406

Total assets less current liabilities
  
1,017,735
719,994

Creditors: amounts falling due after more than one year
 9 
(13,463)
(23,333)

Provisions for liabilities
  

Deferred tax
  
-
(1,632)

  
 
 
-
 
 
(1,632)

Net assets
  
1,004,272
695,029


Capital and reserves
  

Called up share capital 
  
112
112

Profit and loss account
  
1,004,160
694,917

  
1,004,272
695,029


Page 1

 
GPL PROJECTS LIMITED
REGISTERED NUMBER:03212280
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G P Lupton
Director

Date: 24 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
GPL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

GPL Projects is a private company limited by shares, Incorporated in England and Wales. Its registered office is C/O Phoenix House Unit 8, Redhill Aerodrome, Kings Mill Lane, Redhill, Surrey, RH1 5JY.
The principle activity of the company continued to be that of building and refurbishment contractors.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 3

 
GPL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
GPL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Straight line
Motor vehicles
-
25%
Straight line
Office equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. 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.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. 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.

Page 5

 
GPL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 -10).

Page 6

 
GPL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2023
1,051
73,549
11,339
85,939


Additions
3,991
49,900
-
53,891


Disposals
(850)
(30,058)
-
(30,908)



At 30 June 2024

4,192
93,391
11,339
108,922



Depreciation


At 1 July 2023
328
67,306
9,718
77,352


Charge for the year on owned assets
368
9,515
1,044
10,927


Disposals
(170)
(30,057)
-
(30,227)



At 30 June 2024

526
46,764
10,762
58,052



Net book value



At 30 June 2024
3,666
46,627
577
50,870



At 30 June 2023
723
6,243
1,622
8,588

Page 7

 
GPL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Stocks

2024
2023
£
£

Work in progress
25,437
73,138

25,437
73,138



6.


Debtors

2024
2023
£
£


Trade debtors
504,696
457,335

Other debtors
-
15,358

Prepayments and accrued income
9,621
8,890

Deferred taxation
10,837
-

525,154
481,583



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
704,147
382,231

704,147
382,231



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
33,906
106,060

Other taxation and social security
153,969
47,656

Other creditors
54,205
38,300

Accruals and deferred income
35,793
23,530

287,873
225,546


Page 8

 
GPL PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,463
23,333

13,463
23,333



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
3,462
13,333


3,462
13,333


23,462
33,333



11.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those in the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £13,075 (2023:£11,663)

 
Page 9