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REGISTERED NUMBER: 02932005 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

G. Peace Construction Limited

G. Peace Construction Limited (Registered number: 02932005)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G. Peace Construction Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr G Peace
Mr C Peace
Mr F V Curteanu





REGISTERED OFFICE: 56 Lundhill Road
Wombwell
Barnsley South
Yorkshire
S73 0RB





REGISTERED NUMBER: 02932005 (England and Wales)






G. Peace Construction Limited (Registered number: 02932005)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,779 7,985

CURRENT ASSETS
Debtors 5 86,982 34,878
Cash at bank 6,536 22,142
93,518 57,020
CREDITORS
Amounts falling due within one year 6 37,055 23,981
NET CURRENT ASSETS 56,463 33,039
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,242

41,024

PROVISIONS FOR LIABILITIES 338 1,996
NET ASSETS 57,904 39,028

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 57,804 38,928
SHAREHOLDERS' FUNDS 57,904 39,028

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 25 February 2025 and were signed on its behalf by:



Mr C Peace - Director


G. Peace Construction Limited (Registered number: 02932005)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

G. Peace Construction 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.

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 amounts in respect of goods and services to customers, net of value added tax.

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 etc - 25% on cost

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.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

G. Peace Construction Limited (Registered number: 02932005)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 58,692
DEPRECIATION
At 1 June 2023 50,707
Charge for year 6,206
At 31 May 2024 56,913
NET BOOK VALUE
At 31 May 2024 1,779
At 31 May 2023 7,985

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 19,540 15,450
Other debtors 67,442 19,428
86,982 34,878

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 823 447
Taxation and social security 25,991 12,875
Other creditors 10,241 10,659
37,055 23,981

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 June 2023 38,928
Profit for the year 18,876
At 31 May 2024 57,804

G. Peace Construction Limited (Registered number: 02932005)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in debtors is £65,075 (2023: £16,687) in respect of a loan to the directors. Interest is charged on the loan at 2.25% per annum with no fixed repayment terms.