The Gas Spares Shop Ltd Filleted Accounts Cover
The Gas Spares Shop Ltd
Company No. 07202099
Information for Filing with The Registrar
31 May 2024
The Gas Spares Shop Ltd Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 May 2024.
Principal activities
The principal activity of the company during the year under review was Property rental.
Directors
The Directors who served at any time during the year were as follows:
A.J. Darley
P. Darley
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
P. Darley
Director
27 February 2025
The Gas Spares Shop Ltd Balance Sheet Registrar
at
31 May 2024
Company No.
07202099
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
347,236347,236
347,236347,236
Current assets
Debtors
5
91,16790,299
Cash at bank and in hand
35,00231,138
126,169121,437
Creditors: Amount falling due within one year
6
(16,691)
(17,627)
Net current assets
109,478103,810
Total assets less current liabilities
456,714451,046
Creditors: Amounts falling due after more than one year
7
(10,757)
(20,748)
Net assets
445,957430,298
Capital and reserves
Called up share capital
200200
Profit and loss account
9
445,757430,098
Total equity
445,957430,298
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 27 February 2025 and signed on its behalf by:
P. Darley
Director
27 February 2025
The Gas Spares Shop Ltd Notes to the Accounts Registrar
for the year ended 31 May 2024
1
General information
The Gas Spares Shop Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 07202099
Its registered office is:
Southgate Business Centre
32 Gillygate
Pontefract
WF8 1PQ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• 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 transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Tangible fixed assets
Land and buildings
Total
£
£
Cost or revaluation
At 1 June 2023
347,236347,236
At 31 May 2024
347,236347,236
Depreciation
Net book values
At 31 May 2024
347,236347,236
At 31 May 2023
347,236
347,236
5
Debtors
2024
2023
£
£
Amounts owed by connected companies
91,16790,297
Loans to directors
-2
91,16790,299
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,05410,009
Trade creditors
1,8631,091
Taxes and social security
3,673
6,527
Loans from directors
1,101-
16,69117,627
7
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,75720,748
10,75720,748
8
Share Capital
100 Ordinary Shares, 100 A Ordinary Shares
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
10
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
-
33,300
-
33,300
Dividends by type:
Equity dividends
-33,300
-
33,300
The Gas Spares Shop Ltd0720209931 May 202401 June 2023false27 February 2025BTCSoftware AP Solution 2024 11.1.0311.1.03true072020992023-06-012024-05-31072020992024-05-31072020992023-05-3107202099core:WithinOneYear2024-05-3107202099core:WithinOneYear2023-05-3107202099core:AfterOneYear2024-05-3107202099core:AfterOneYear2023-05-3107202099core:ShareCapital2024-05-3107202099core:ShareCapital2023-05-3107202099core:RetainedEarningsAccumulatedLosses2024-05-3107202099core:RetainedEarningsAccumulatedLosses2023-05-3107202099countries:UnitedKingdom2023-06-012024-05-3107202099bus:RegisteredOffice2023-06-012024-05-31072020992022-06-012023-05-3107202099core:LandBuildings2023-06-01072020992023-06-0107202099core:LandBuildings2024-05-3107202099core:RetainedEarningsAccumulatedLosses2023-06-012024-05-3107202099bus:AllOrdinaryShares2023-06-012024-05-3107202099bus:SmallEntities2023-06-012024-05-3107202099bus:FullAccounts2023-06-012024-05-3107202099bus:AuditExempt-NoAccountantsReport2023-06-012024-05-3107202099bus:Director22023-06-012024-05-3107202099bus:PrivateLimitedCompanyLtd2023-06-012024-05-31iso4217:GBPxbrli:pure