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REGISTERED NUMBER: 07434286 (England and Wales)






GJH Commercial Vehicle Services Limited

Financial Statements

for the Year Ended 28 June 2024






GJH Commercial Vehicle Services Limited (Registered number: 07434286)

Contents of the Financial Statements
for the year ended 28 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GJH Commercial Vehicle Services Limited

Company Information
for the year ended 28 June 2024







DIRECTORS: Mr G J Hayton
Mrs M Hayton





REGISTERED OFFICE: Unit 15
Flanshaw Way
Wakefield
West Yorkshire
WF2 9LP





REGISTERED NUMBER: 07434286 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

GJH Commercial Vehicle Services Limited (Registered number: 07434286)

Balance Sheet
28 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,264 1,474
Tangible assets 5 155,567 190,370
156,831 191,844

CURRENT ASSETS
Stocks 8,000 8,000
Debtors 6 203,480 189,599
Cash at bank 126,301 66,856
337,781 264,455
CREDITORS
Amounts falling due within one year 7 124,556 109,884
NET CURRENT ASSETS 213,225 154,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

370,056

346,415

CREDITORS
Amounts falling due after more than one
year

8

(37,879

)

(52,447

)

PROVISIONS FOR LIABILITIES (38,338 ) (46,917 )
NET ASSETS 293,839 247,051

GJH Commercial Vehicle Services Limited (Registered number: 07434286)

Balance Sheet - continued
28 June 2024

2024 2023
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 293,739 246,951
SHAREHOLDERS' FUNDS 293,839 247,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 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.

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 13 March 2025 and were signed on its behalf by:





Mr G J Hayton - Director


GJH Commercial Vehicle Services Limited (Registered number: 07434286)

Notes to the Financial Statements
for the year ended 28 June 2024


1. STATUTORY INFORMATION

The functional and presentation currency for the company is pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, was amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


GJH Commercial Vehicle Services Limited (Registered number: 07434286)

Notes to the Financial Statements - continued
for the year ended 28 June 2024


2. ACCOUNTING POLICIES - continued
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 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Business rates relief - coronavirus
Reliefs received in relation to Coronavirus Business Rates Relief are accounted for as they fall due and are included within other operating income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

GJH Commercial Vehicle Services Limited (Registered number: 07434286)

Notes to the Financial Statements - continued
for the year ended 28 June 2024


4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 29 June 2023
and 28 June 2024 40,000 2,106 42,106
AMORTISATION
At 29 June 2023 40,000 632 40,632
Amortisation for year - 210 210
At 28 June 2024 40,000 842 40,842
NET BOOK VALUE
At 28 June 2024 - 1,264 1,264
At 28 June 2023 - 1,474 1,474

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 29 June 2023 160,249 14,776 281,296 8,964 465,285
Additions 14,292 - - 4,175 18,467
Disposals (19,063 ) (1,870 ) (36,552 ) (427 ) (57,912 )
At 28 June 2024 155,478 12,906 244,744 12,712 425,840
DEPRECIATION
At 29 June 2023 115,403 12,086 141,113 6,313 274,915
Charge for year 12,395 658 34,264 1,665 48,982
Eliminated on disposal (18,124 ) (1,813 ) (33,425 ) (262 ) (53,624 )
At 28 June 2024 109,674 10,931 141,952 7,716 270,273
NET BOOK VALUE
At 28 June 2024 45,804 1,975 102,792 4,996 155,567
At 28 June 2023 44,846 2,690 140,183 2,651 190,370

GJH Commercial Vehicle Services Limited (Registered number: 07434286)

Notes to the Financial Statements - continued
for the year ended 28 June 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 29 June 2023 13,250
Transfer to ownership (13,250 )
At 28 June 2024 -
DEPRECIATION
At 29 June 2023 7,660
Transfer to ownership (7,660 )
At 28 June 2024 -
NET BOOK VALUE
At 28 June 2024 -
At 28 June 2023 5,590

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 174,436 182,468
Other debtors 546 2,499
Directors' current accounts 23,676 1,618
Prepayments and accrued income 4,822 3,014
203,480 189,599

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,569 13,294
Hire purchase contracts (see note 9) - 2,209
Trade creditors 44,213 53,753
Tax 37,055 12,509
Social security and other taxes 1,762 -
VAT 22,888 25,330
Other creditors 679 -
Accruals and deferred income 3,390 2,789
124,556 109,884

GJH Commercial Vehicle Services Limited (Registered number: 07434286)

Notes to the Financial Statements - continued
for the year ended 28 June 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 15,906 14,569
Bank loans - 2-5 years 21,973 37,878
37,879 52,447

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year - 2,209

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 52,448 65,741
Hire purchase contracts - 2,209
52,448 67,950

Obligations under hire purchase are secured against the asset to which they relate.

Bank loans are secured by way of a fixed and floating charge over the assets of the company.

11. CALLED UP SHARE CAPITAL

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

GJH Commercial Vehicle Services Limited (Registered number: 07434286)

Notes to the Financial Statements - continued
for the year ended 28 June 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 June 2024 and 28 June 2023:

2024 2023
£    £   
Mr G J Hayton
Balance outstanding at start of year 1,618 -
Amounts advanced 65,298 64,146
Amounts repaid (43,269 ) (62,528 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,647 1,618