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Company Registration No. 9296930 (England and Wales)
Gregory's Water Services Ltd Unaudited accounts for the year ended 30 November 2024
Gregory's Water Services Ltd Unaudited accounts Contents
Page
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Gregory's Water Services Ltd Company Information for the year ended 30 November 2024
Director
Mr Paul Gregory
Company Number
9296930 (England and Wales)
Registered Office
3 Albert Close Ottery st Mary Exeter Devon EX11 1GR
Accountants
Mrs Catherine Flannery, FMAAT, FCCA, BSc (Hons) South Devon Accounting Ltd 6 Orchard Close Ogwell Newton Abbot TQ12 6AL
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Gregory's Water Services Ltd Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
481,995 
574,335 
Current assets
Inventories
58,354 
49,820 
Debtors
248,500 
73,226 
Cash at bank and in hand
8,473 
35,748 
315,327 
158,794 
Creditors: amounts falling due within one year
(328,885)
(235,902)
Net current liabilities
(13,558)
(77,108)
Total assets less current liabilities
468,437 
497,227 
Creditors: amounts falling due after more than one year
(371,516)
(406,900)
Provisions for liabilities
Deferred tax
(60,546)
(77,168)
Net assets
36,375 
13,159 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
36,373 
13,157 
Shareholders' funds
36,375 
13,159 
For the year ending 30 November 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 March 2025 and were signed on its behalf by
Mr Paul Gregory Director Company Registration No. 9296930
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Gregory's Water Services Ltd Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Gregory's Water Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 9296930. The registered office is 3 Albert Close, Ottery st Mary, Exeter, Devon, EX11 1GR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Revenue recognition
Revenue represents amounts chargeable to clients for professional services provided during the year, net of any sales tax. Services to clients, which at the balance sheet date have not been billed, have been recognised as revenue. Revenue is recognised by reference to an assessment of the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing Balance Basis
Motor vehicles
20% Reducing Balance Basis
Fixtures & fittings
10% Reducing Balance Basis
Computer equipment
20% Reducing Balance Basis
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Gregory's Water Services Ltd Notes to the Accounts for the year ended 30 November 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 December 2023
174,537 
631,064 
3,323 
20,159 
829,083 
Additions
2,550 
30,000 
389 
607 
33,546 
Disposals
- 
(34,747)
- 
- 
(34,747)
At 30 November 2024
177,087 
626,317 
3,712 
20,766 
827,882 
Depreciation
At 1 December 2023
44,501 
200,720 
1,493 
8,034 
254,748 
Charge for the year
13,259 
87,621 
222 
2,546 
103,648 
On disposals
- 
(12,509)
- 
- 
(12,509)
At 30 November 2024
57,760 
275,832 
1,715 
10,580 
345,887 
Net book value
At 30 November 2024
119,327 
350,485 
1,997 
10,186 
481,995 
At 30 November 2023
130,036 
430,344 
1,830 
12,125 
574,335 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
18,348 
32,876 
Trade debtors
229,723 
37,850 
Accrued income and prepayments
379 
600 
Other debtors
50 
1,900 
248,500 
73,226 
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Gregory's Water Services Ltd Notes to the Accounts for the year ended 30 November 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
99,088 
35,000 
Obligations under finance leases and hire purchase contracts
127,051 
132,134 
Trade creditors
91,406 
30,595 
Taxes and social security
17,032 
42,834 
Other creditors
2,582 
3,804 
Loans from directors
(9,224)
(9,365)
Accruals
950 
900 
328,885 
235,902 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
147,527 
54,772 
Obligations under finance leases and hire purchase contracts
223,989 
352,128 
371,516 
406,900 
8
Average number of employees
During the year the average number of employees was 23 (2023: 22).
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