2 2 1 Gas Connections Limited 10770429 false 2023-06-01 2024-06-30 2024-06-30 The principal activity of the company is gas pipe and meter connection services for domestic and business customers Digita Accounts Production Advanced 6.30.9574.0 true 10770429 2023-06-01 2024-06-30 10770429 2024-06-30 10770429 bus:OrdinaryShareClass1 2024-06-30 10770429 core:CurrentFinancialInstruments 2024-06-30 10770429 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10770429 core:Non-currentFinancialInstruments 2024-06-30 10770429 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 10770429 core:FurnitureFittingsToolsEquipment 2024-06-30 10770429 core:LandBuildings 2024-06-30 10770429 bus:SmallEntities 2023-06-01 2024-06-30 10770429 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-06-30 10770429 bus:FilletedAccounts 2023-06-01 2024-06-30 10770429 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-06-30 10770429 bus:RegisteredOffice 2023-06-01 2024-06-30 10770429 bus:Director1 2023-06-01 2024-06-30 10770429 bus:OrdinaryShareClass1 2023-06-01 2024-06-30 10770429 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-06-30 10770429 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-06-30 10770429 core:LandBuildings 2023-06-01 2024-06-30 10770429 core:OfficeEquipment 2023-06-01 2024-06-30 10770429 countries:England 2023-06-01 2024-06-30 10770429 2023-05-31 10770429 core:FurnitureFittingsToolsEquipment 2023-05-31 10770429 core:LandBuildings 2023-05-31 10770429 2022-06-01 2023-05-31 10770429 2023-05-31 10770429 bus:OrdinaryShareClass1 2023-05-31 10770429 core:CurrentFinancialInstruments 2023-05-31 10770429 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 10770429 core:Non-currentFinancialInstruments 2023-05-31 10770429 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 10770429 core:FurnitureFittingsToolsEquipment 2023-05-31 10770429 core:LandBuildings 2023-05-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 10770429

1 Gas Connections Limited

Unaudited Filleted Financial Statements

for the Period from 1 June 2023 to 30 June 2024

 

1 Gas Connections Limited

(Registration number: 10770429)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,726

10,158

Current assets

 

Debtors

5

(41,242)

(44,239)

Cash at bank and in hand

 

15,000

20,000

 

(26,242)

(24,239)

Creditors: Amounts falling due within one year

6

(34,240)

(61,711)

Net current liabilities

 

(60,482)

(85,950)

Total assets less current liabilities

 

(51,756)

(75,792)

Creditors: Amounts falling due after more than one year

6

(28,983)

(35,337)

Provisions for liabilities

(1,088)

(1,360)

Net liabilities

 

(81,827)

(112,489)

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

(82,827)

(113,489)

Shareholders' deficit

 

(81,827)

(112,489)

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 March 2025
 

.........................................
Mr Zafar Nicod
Director

 

1 Gas Connections Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
11 Longley Lane
Spondon
Derby
Derby
DE21 7AT

These financial statements were authorised for issue by the director on 27 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

1 Gas Connections Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2023 - 2).

 

1 Gas Connections Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 June 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

3,000

10,839

13,839

At 30 June 2024

3,000

10,839

13,839

Depreciation

At 1 June 2023

-

3,681

3,681

Charge for the period

-

1,432

1,432

At 30 June 2024

-

5,113

5,113

Carrying amount

At 30 June 2024

3,000

5,726

8,726

At 31 May 2023

3,000

7,158

10,158

Included within the net book value of land and buildings above is £3,000 (2023 - £3,000) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

7,003

Other debtors

(41,242)

(51,242)

 

(41,242)

(44,239)

 

1 Gas Connections Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

11,352

6,673

Trade creditors

 

-

35

Taxation and social security

 

21,742

25,600

Accruals and deferred income

 

826

830

Other creditors

 

320

28,573

 

34,240

61,711

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

28,983

35,337

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

28,983

35,337

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,051

5,858

Bank overdrafts

5,301

815

11,352

6,673

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 of £1 each

1,000

1,000

1,000

1,000