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REGISTERED NUMBER: 10218359 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

GAS SALES & SERVICE LIMITED

GAS SALES & SERVICE LIMITED (REGISTERED NUMBER: 10218359)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GAS SALES & SERVICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: A C Haycock
Mrs L Haycock





REGISTERED OFFICE: 61 Station Road
Sudbury
Suffolk
CO10 2SP





REGISTERED NUMBER: 10218359 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

GAS SALES & SERVICE LIMITED (REGISTERED NUMBER: 10218359)

BALANCE SHEET
31 JULY 2024

31.7.23 31.7.24
£    £    Notes £    £   
FIXED ASSETS
19,500 Intangible assets 4 13,000
141,023 Tangible assets 5 124,031
160,523 137,031

CURRENT ASSETS
47,947 Stocks 52,954
120,474 Debtors 6 132,667
639,637 Cash at bank and in hand 200,023
808,058 385,644
CREDITORS
168,642 Amounts falling due within one year 7 113,256
639,416 NET CURRENT ASSETS 272,388
799,939 TOTAL ASSETS LESS CURRENT
LIABILITIES

409,419

CREDITORS
(336,986 ) Amounts falling due after more than one
year

8

-

(31,417 ) PROVISIONS FOR LIABILITIES (22,732 )
431,536 NET ASSETS 386,687

GAS SALES & SERVICE LIMITED (REGISTERED NUMBER: 10218359)

BALANCE SHEET - continued
31 JULY 2024

31.7.23 31.7.24
£    £    Notes £    £   
CAPITAL AND RESERVES
10 Called up share capital 10
18,735 Revaluation reserve 18,212
412,791 Retained earnings 368,465
431,536 386,687

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





Mrs L Haycock - Director


GAS SALES & SERVICE LIMITED (REGISTERED NUMBER: 10218359)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Gas Sales & Service Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of work completed during the year, by reference to invoiced sales and the movement between opening and closing trade debtor balances.

Intangible assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 10% on reducing balance
Motor vehicles and bikes - 10% on reducing balance
Computer equipment - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value.

Financial instruments
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


GAS SALES & SERVICE LIMITED (REGISTERED NUMBER: 10218359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 77,000
AMORTISATION
At 1 August 2023 57,500
Amortisation for year 6,500
At 31 July 2024 64,000
NET BOOK VALUE
At 31 July 2024 13,000
At 31 July 2023 19,500

GAS SALES & SERVICE LIMITED (REGISTERED NUMBER: 10218359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS
Motor
Plant and vehicles Computer
Totals machinery and bikes equipment
£    £    £    £   
COST
At 1 August 2023 210,212 53,965 143,463 12,784
Additions 2,098 - - 2,098
Disposals (10,000 ) - (10,000 ) -
At 31 July 2024 202,310 53,965 133,463 14,882
DEPRECIATION
At 1 August 2023 69,189 26,552 37,904 4,733
Charge for year 13,775 2,739 10,024 1,012
Eliminated on disposal (4,685 ) - (4,685 ) -
At 31 July 2024 78,279 29,291 43,243 5,745
NET BOOK VALUE
At 31 July 2024 124,031 24,674 90,220 9,137
At 31 July 2023 141,023 27,413 105,559 8,051

Certain assets were revalued as at 31 July 2017 in accordance with Section 18 of Financial Reporting Standard 102. The surplus on revaluation has been transferred to the revaluation reserve.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 104,519 98,595
Other debtors 28,148 21,879
132,667 120,474

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts - 12,666
Trade creditors 99,243 119,666
Taxation and social security 6,764 31,460
Other creditors 7,249 4,850
113,256 168,642

GAS SALES & SERVICE LIMITED (REGISTERED NUMBER: 10218359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.24 31.7.23
£    £   
Other creditors - 336,986