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GAS SERVICES HOVE LTD

Registered Number
08535220
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

GAS SERVICES HOVE LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

MARR, Andre

Registered Address

42 Wicklands Avenue
Saltdean
Brighton
BN2 8EP

Registered Number

08535220 (England and Wales)
GAS SERVICES HOVE LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4490654
490654
Current assets
Debtors530,41641,438
Cash at bank and on hand24,79517,678
55,21159,116
Creditors amounts falling due within one year6(24,244)(22,293)
Net current assets (liabilities)30,96736,823
Total assets less current liabilities31,45737,477
Creditors amounts falling due after one year7(31,164)(36,845)
Provisions for liabilities8(123)(124)
Net assets170508
Capital and reserves
Called up share capital1010
Profit and loss account160498
Shareholders' funds170508
The financial statements were approved and authorised for issue by the Director on 25 February 2025, and are signed on its behalf by:
MARR, Andre
Director
Registered Company No. 08535220
GAS SERVICES HOVE LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Office Equipment-3
2.Average number of employees

20242023
Average number of employees during the year11
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 June 232,3194,7397,058
At 31 May 242,3194,7397,058
Depreciation and impairment
At 01 June 231,6654,7396,404
Charge for year164-164
At 31 May 241,8294,7396,568
Net book value
At 31 May 24490-490
At 31 May 23654-654
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8,49914,143
Other debtors21,91727,295
Total30,41641,438
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,9127,366
Bank borrowings and overdrafts5,6805,540
Taxation and social security14,6529,387
Total24,24422,293
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts31,16436,845
Total31,16436,845
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)123124
Total123124
9.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
MARR, Andre27,29505,37821,917
27,29505,37821,917
Interest has been charged on the overdrawn amount at the official HM Revenue & Customs rate. The overdrawn amount was repaid to the company by 28 February 2025.
10.Controlling party
The company is controlled by its director, A Marr, by virtue of his ownership of 100% of the issued share capital.