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REGISTERED NUMBER: 05848877 (England and Wales)















GMED SERVICING LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






GMED SERVICING LIMITED (REGISTERED NUMBER: 05848877)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 8

GMED SERVICING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: G M England
D England





SECRETARY: Mrs C E England





REGISTERED OFFICE: Cranborne, Clifton Avenue
Holmfirth
West Yorkshire
HD9 1AL





REGISTERED NUMBER: 05848877 (England and Wales)





ACCOUNTANTS: FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL

GMED SERVICING LIMITED (REGISTERED NUMBER: 05848877)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 672,225 629,061

CURRENT ASSETS
Debtors 5 202,110 120,365
Cash at bank 236,742 178,683
438,852 299,048
CREDITORS
Amounts falling due within one year 6 192,458 144,463
NET CURRENT ASSETS 246,394 154,585
TOTAL ASSETS LESS CURRENT
LIABILITIES

918,619

783,646

CREDITORS
Amounts falling due after more than one
year

7

330,582

343,227
NET ASSETS 588,037 440,419

CAPITAL AND RESERVES
Called up share capital 9 150 150
Retained earnings 587,887 440,269
SHAREHOLDERS' FUNDS 588,037 440,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

GMED SERVICING LIMITED (REGISTERED NUMBER: 05848877)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


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 22 November 2024 and were signed on its behalf by:





G M England - Director


GMED SERVICING LIMITED (REGISTERED NUMBER: 05848877)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

GMED Servicing 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and Machinery - 25% on reducing balance
Fixtures and Fittings - 20% on cost
Motor Vehicles - 25% on reducing balance
Computer Equipment - 33% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

GMED SERVICING LIMITED (REGISTERED NUMBER: 05848877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

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 6 (2023 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and
property Machinery Fittings
£    £    £   
COST
At 1 July 2023 492,913 106,324 25,942
Additions 33,282 9,303 1,563
Disposals - - -
At 30 June 2024 526,195 115,627 27,505
DEPRECIATION
At 1 July 2023 - 65,595 1,297
Charge for year - 11,247 5,453
Eliminated on disposal - - -
At 30 June 2024 - 76,842 6,750
NET BOOK VALUE
At 30 June 2024 526,195 38,785 20,755
At 30 June 2023 492,913 40,729 24,645

Motor Computer
Vehicles Equipment Totals
£    £    £   
COST
At 1 July 2023 208,666 349 834,194
Additions 40,235 4,182 88,565
Disposals (64,535 ) - (64,535 )
At 30 June 2024 184,366 4,531 858,224
DEPRECIATION
At 1 July 2023 137,893 348 205,133
Charge for year 18,128 567 35,395
Eliminated on disposal (54,529 ) - (54,529 )
At 30 June 2024 101,492 915 185,999
NET BOOK VALUE
At 30 June 2024 82,874 3,616 672,225
At 30 June 2023 70,773 1 629,061

GMED SERVICING LIMITED (REGISTERED NUMBER: 05848877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Vehicles
£   
COST
At 1 July 2023 51,869
Transfer to ownership (34,343 )
At 30 June 2024 17,526
DEPRECIATION
At 1 July 2023 18,677
Charge for year 3,469
Transfer to ownership (15,025 )
At 30 June 2024 7,121
NET BOOK VALUE
At 30 June 2024 10,405
At 30 June 2023 33,192

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 159,035 120,123
Other debtors 43,075 242
202,110 120,365

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,554 13,520
Hire purchase contracts 7,340 5,219
Trade creditors 51,678 43,015
Taxation and social security 86,844 58,755
Other creditors 32,042 23,954
192,458 144,463

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 323,351 337,905
Hire purchase contracts 7,231 5,322
330,582 343,227

GMED SERVICING LIMITED (REGISTERED NUMBER: 05848877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 253,115 272,740

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 337,905 351,425

Lloyds Bank Plc holds floating charge against Victoria Works, Woodhead Road, Holmfirth, HD9 2PR under the reference MD1390. Registered on 11th April 2023.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 A Ordinary £1 100 100
50 B Ordinary £1 50 50
150 150

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
G M England
Balance outstanding at start of year (389 ) 293
Amounts advanced 1,056 54,358
Amounts repaid (1,040 ) (55,040 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (373 ) (389 )

D England
Balance outstanding at start of year 242 -
Amounts advanced - 1,742
Amounts repaid (250 ) (1,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8 ) 242

GMED SERVICING LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
GMED SERVICING LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 June 2024 set out on pages two to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL


22 November 2024