3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 09728042 2023-08-01 2024-07-31 09728042 2024-07-31 09728042 2023-07-31 09728042 2022-08-01 2023-07-31 09728042 2023-07-31 09728042 2022-07-31 09728042 core:MotorVehicles 2023-08-01 2024-07-31 09728042 bus:Director1 2023-08-01 2024-07-31 09728042 core:MotorVehicles 2023-07-31 09728042 core:MotorVehicles 2024-07-31 09728042 core:WithinOneYear 2024-07-31 09728042 core:WithinOneYear 2023-07-31 09728042 core:AfterOneYear 2024-07-31 09728042 core:AfterOneYear 2023-07-31 09728042 core:ShareCapital 2024-07-31 09728042 core:ShareCapital 2023-07-31 09728042 core:RetainedEarningsAccumulatedLosses 2024-07-31 09728042 core:RetainedEarningsAccumulatedLosses 2023-07-31 09728042 core:MotorVehicles 2023-07-31 09728042 bus:SmallEntities 2023-08-01 2024-07-31 09728042 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09728042 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09728042 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09728042 bus:FullAccounts 2023-08-01 2024-07-31 09728042 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 09728042 core:FurnitureFittingsToolsEquipment 2023-07-31 09728042 core:FurnitureFittingsToolsEquipment 2024-07-31
COMPANY REGISTRATION NUMBER: 09728042
GG Automation Services Ltd
Filleted Unaudited Financial Statements
31 July 2024
GG Automation Services Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
57,116
66,400
Current assets
Debtors
6
19,954
21,341
Cash at bank and in hand
22,595
2,690
--------
--------
42,549
24,031
Creditors: amounts falling due within one year
7
40,715
35,413
--------
--------
Net current assets/(liabilities)
1,834
( 11,382)
--------
--------
Total assets less current liabilities
58,950
55,018
Creditors: amounts falling due after more than one year
8
26,613
47,139
Provisions
Taxation including deferred tax
10,852
6,727
--------
--------
Net assets
21,485
1,152
--------
--------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
20,485
152
--------
-------
Shareholders funds
21,485
1,152
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have 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 Act with respect to accounting records and the preparation of financial statements .
GG Automation Services Ltd
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 7 February 2025 , and are signed on behalf of the board by:
Mr S B Baker
Director
Company registration number: 09728042
GG Automation Services Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
12% straight line
Equipment
-
33% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 August 2023
68,856
10,829
79,685
Additions
1,108
1,108
--------
--------
--------
At 31 July 2024
68,856
11,937
80,793
--------
--------
--------
Depreciation
At 1 August 2023
5,738
7,547
13,285
Charge for the year
8,607
1,785
10,392
--------
--------
--------
At 31 July 2024
14,345
9,332
23,677
--------
--------
--------
Carrying amount
At 31 July 2024
54,511
2,605
57,116
--------
--------
--------
At 31 July 2023
63,118
3,282
66,400
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
17,652
18,114
Other debtors
2,302
3,227
--------
--------
19,954
21,341
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,000
6,000
Corporation tax
3,487
Social security and other taxes
8,051
6,561
Other creditors
23,177
22,852
--------
--------
40,715
35,413
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,500
13,500
Other creditors
19,113
33,639
--------
--------
26,613
47,139
--------
--------