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REGISTERED NUMBER: 01617973 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Gott Technical Services Limited

Gott Technical Services Limited (Registered number: 01617973)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gott Technical Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr B Gott
Mr I H Gott





REGISTERED OFFICE: Coopies Lane
Morpeth
Northumberland
NE61 6JJ





REGISTERED NUMBER: 01617973 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Gott Technical Services Limited (Registered number: 01617973)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 298,347 243,681
Investments 5 7,334 7,334
305,681 251,015

CURRENT ASSETS
Stocks 225,216 185,151
Debtors 6 265,792 341,065
Cash at bank and in hand 55,949 175,895
546,957 702,111
CREDITORS
Amounts falling due within one year 7 (315,939 ) (418,116 )
NET CURRENT ASSETS 231,018 283,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

536,699

535,010

CREDITORS
Amounts falling due after more than one
year

8

(102,067

)

(112,067

)

PROVISIONS FOR LIABILITIES (56,992 ) (45,015 )
NET ASSETS 377,640 377,928

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Revaluation reserve 9 168,465 142,878
Profit and loss account 179,175 205,050
377,640 377,928

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





Mr I H Gott - Director


Gott Technical Services Limited (Registered number: 01617973)

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

1. STATUTORY INFORMATION

Gott Technical Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Going concern
The financial statements are prepared on a going concern basis, the validity of which depends on the continued support of the directors. Were this not the case, adjustments would have to be made to reduce the value of the assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Revenue is recognised depending on the nature of the sale; sales of equipment are recognised at the earlier of the date of supply or installation, sales from maintenance contracts are released when the work has been delivered and repair sales are recognised when the work has been performed.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold0-2% Straight Line
Plant and machinery15% Reducing Balance
Computer equipment25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Gott Technical Services Limited (Registered number: 01617973)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 11 (2023 - 15 ) .

Gott Technical Services Limited (Registered number: 01617973)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 245,000 32,246 277,246
Additions - 20,596 20,596
Revaluations 20,000 - 20,000
At 31 March 2024 265,000 52,842 317,842
DEPRECIATION
At 1 April 2023 19,600 13,965 33,565
Charge for year 2,450 5,530 7,980
Revaluation adjustments (22,050 ) - (22,050 )
At 31 March 2024 - 19,495 19,495
NET BOOK VALUE
At 31 March 2024 265,000 33,347 298,347
At 31 March 2023 225,400 18,281 243,681

The fair value of the property at 31 March 2024 has been arrived at on the basis of a valuation carried out by the directors who are not professionally qualified valuers. The valuation, was arrived at by reference to market evidence of transaction prices for similar properties in its location.

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2015 163,750 - 163,750
Valuation in 2024 20,000 - 20,000
Cost 81,250 52,842 134,092
265,000 52,842 317,842

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 81,250 81,250
Aggregate depreciation 30,672 29,859

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 7,334
NET BOOK VALUE
At 31 March 2024 7,334
At 31 March 2023 7,334

Gott Technical Services Limited (Registered number: 01617973)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 249,218 332,832
Other debtors 16,574 8,233
265,792 341,065

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 11,536
Trade creditors 231,380 259,397
Taxation and social security 18,324 90,864
Other creditors 56,235 56,319
315,939 418,116

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 16,667 26,667
Other creditors 85,400 85,400
102,067 112,067

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023 142,878
Transfers (1,638 )
Revaluations 27,225

At 31 March 2024 168,465