Company registration number 13593812 (England and Wales)
GVTG ROAD TRANSPORT LAW LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
GVTG ROAD TRANSPORT LAW LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
GVTG ROAD TRANSPORT LAW LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,024
4,984
Current assets
Stocks
4
6,168
18,572
Debtors
5
-
0
32,685
Cash at bank and in hand
114,711
51,130
120,879
102,387
Creditors: amounts falling due within one year
6
(23,604)
(26,772)
Net current assets
97,275
75,615
Total assets less current liabilities
104,299
80,599
Provisions for liabilities
(1,756)
(1,246)
Net assets
102,543
79,353
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
102,443
79,253
Total equity
102,543
79,353

For the financial year ended 30 June 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 March 2025 and are signed on its behalf by:
Mr T J P Culpin
Director
Company registration number 13593812 (England and Wales)
GVTG ROAD TRANSPORT LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

GVTG Road Transport Law Limited is a private company limited by shares incorporated in England and Wales. The registered office is Champion Allwoods Limited, 2nd Floor Refuge House, 33-37 Watergate Row, Chester, CH1 2LE.

1.1
Accounting convention

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion of contracts.

1.3
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 as follows:

Motor vehicle & assessories
At 25% on a reducing balance basis.
Computer Equipment
At 25% on a straight line basis.
Office Furniture
At 20% on a straight line basis.

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.

1.4
Work in progress

Work in progress is included to reflect the recoverability of professional services provided but not invoiced at the accounting date. The adjustment to work in progress is shown as an increase or decrease to turnover.

1.5
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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

GVTG ROAD TRANSPORT LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
GVTG ROAD TRANSPORT LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
3
Tangible fixed assets
Motor vehicle & assessories
Computer Equipment
Office Furniture
Total
£
£
£
£
Cost
At 1 July 2023
-
0
6,016
154
6,170
Additions
1,073
2,652
351
4,076
At 30 June 2024
1,073
8,668
505
10,246
Depreciation
At 1 July 2023
-
0
1,155
31
1,186
Depreciation charged in the year
-
0
1,971
65
2,036
At 30 June 2024
-
0
3,126
96
3,222
Carrying amount
At 30 June 2024
1,073
5,542
409
7,024
At 30 June 2023
-
0
4,861
123
4,984
4
Stocks
2024
2023
£
£
Work in progress
6,168
18,572
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
14,498
Other debtors
-
0
17,883
Prepayments and accrued income
-
0
304
-
0
32,685
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
356
889
Corporation tax
14,523
19,017
Other taxation and social security
2,803
786
Other creditors
2,327
2,230
Accruals and deferred income
3,595
3,850
23,604
26,772
GVTG ROAD TRANSPORT LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
100
100
8
Related party transactions

At 30 June 2024, an amount of £933 was due from the company to Mr TJP Culpin and Mrs K Culpin, in respect of the credit balance on their directors' current accounts with the company.

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