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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
Page
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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
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GM Plastering & Drylining Services Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
118,151 
149,706 
Current assets
Debtors
309,050 
133,076 
Cash at bank and in hand
611,898 
321,797 
920,948 
454,873 
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
Deferred tax
- 
(2,898)
Net assets
694,266 
390,444 
Capital and reserves
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
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GM Plastering & Drylining Services Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 taxation
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.
Leased assets
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.
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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 
Depreciation
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 
Net book value
At 31 May 2024
10,494 
106,238 
1,419 
118,151 
At 31 May 2023
19,127 
128,890 
1,689 
149,706 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
4,620 
13,993 
- Motor vehicles
94,520 
128,890 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
23,262 
9,858 
Trade debtors
210,351 
99,022 
Accrued income and prepayments
4,670 
5,111 
Other debtors
70,767 
19,085 
309,050 
133,076 
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 
272,156 
123,536 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
72,677 
87,701 
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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).
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