Company Registration No. 10204251 (England and Wales)
GM Plastering & Drylining Services Ltd
Unaudited accounts
for the year ended 31 May 2024
GM Plastering & Drylining Services Ltd
Unaudited accounts
Contents
GM Plastering & Drylining Services Ltd
Company Information
for the year ended 31 May 2024
Directors
Gary Mains
Lindsey Mains
Company Number
10204251 (England and Wales)
Registered Office
7 Church Walk
Thornley
Durham
DH6 3EN
Accountants
Middlers Accountants
Netpark
Thomas Wright Way
Sedgefield
Durham
TS21 3FD
GM Plastering & Drylining Services Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
118,151
149,706
Cash at bank and in hand
611,898
321,797
Creditors: amounts falling due within one year
(272,156)
(123,536)
Net current assets
648,792
331,337
Total assets less current liabilities
766,943
481,043
Creditors: amounts falling due after more than one year
(72,677)
(87,701)
Provisions for liabilities
Net assets
694,266
390,444
Called up share capital
2
2
Profit and loss account
694,264
390,442
Shareholders' funds
694,266
390,444
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by
Gary Mains
Director
Company Registration No. 10204251
GM Plastering & Drylining Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
GM Plastering & Drylining Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 10204251. The registered office is 7 Church Walk, Thornley, Durham, DH6 3EN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Motor vehicles
25% Straight Line
Computer equipment
25% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
GM Plastering & Drylining Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
27,821
162,878
4,348
195,047
Additions
2,966
12,500
231
15,697
Disposals
(10,000)
-
-
(10,000)
At 31 May 2024
20,787
175,378
4,579
200,744
At 1 June 2023
8,694
33,988
2,659
45,341
Charge for the year
3,765
35,152
501
39,418
On disposals
(2,166)
-
-
(2,166)
At 31 May 2024
10,293
69,140
3,160
82,593
At 31 May 2024
10,494
106,238
1,419
118,151
At 31 May 2023
19,127
128,890
1,689
149,706
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
4,620
13,993
- Motor vehicles
94,520
128,890
Amounts falling due within one year
Trade debtors
210,351
99,022
Accrued income and prepayments
4,670
5,111
Other debtors
70,767
19,085
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
15,025
16,613
Trade creditors
31,635
23,827
Taxes and social security
169,058
69,811
Other creditors
52,112
8,814
Loans from directors
4,326
4,471
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
72,677
87,701
GM Plastering & Drylining Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).