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REGISTERED NUMBER: 12700232 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

GL ELECTRICAL (WM) LIMITED

GL ELECTRICAL (WM) LIMITED (REGISTERED NUMBER: 12700232)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GL ELECTRICAL (WM) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr J T Hughes
Mr M I Kerr
Mr G Larter





REGISTERED OFFICE: 5 The Quadrant
Coventry
CV1 2EL





REGISTERED NUMBER: 12700232 (England and Wales)





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

GL ELECTRICAL (WM) LIMITED (REGISTERED NUMBER: 12700232)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 80,200 87,088

CURRENT ASSETS
Stocks 237,906 79,000
Debtors 5 430,277 155,434
Cash at bank 16,167 15,527
684,350 249,961
CREDITORS
Amounts falling due within one year 6 647,613 264,363
NET CURRENT ASSETS/(LIABILITIES) 36,737 (14,402 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

116,937

72,686

CREDITORS
Amounts falling due after more than one year 7 115,235 52,158
NET ASSETS 1,702 20,528

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,402 20,228
1,702 20,528

GL ELECTRICAL (WM) LIMITED (REGISTERED NUMBER: 12700232)

BALANCE SHEET - continued
30 JUNE 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 18 March 2025 and were signed on its behalf by:





Mr J T Hughes - Director


GL ELECTRICAL (WM) LIMITED (REGISTERED NUMBER: 12700232)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Gl Electrical (WM) 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% reducing balance
Computer equipment - 33% per annum of cost

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

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.

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

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 31 (2023 - 34 ) .

GL ELECTRICAL (WM) LIMITED (REGISTERED NUMBER: 12700232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 97,708 6,207 103,915
Additions 23,500 - 23,500
At 30 June 2024 121,208 6,207 127,415
DEPRECIATION
At 1 July 2023 15,096 1,731 16,827
Charge for year 28,486 1,902 30,388
At 30 June 2024 43,582 3,633 47,215
NET BOOK VALUE
At 30 June 2024 77,626 2,574 80,200
At 30 June 2023 82,612 4,476 87,088

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 152,947 46,290
Amounts owed by group undertakings 20,112 -
Other debtors 257,218 109,144
430,277 155,434

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 180,922 -
Hire purchase contracts 30,233 21,929
Trade creditors 271,372 41,753
Taxation and social security 119,969 115,451
Other creditors 45,117 85,230
647,613 264,363

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 77,300 -
Hire purchase contracts 37,935 52,158
115,235 52,158

GL ELECTRICAL (WM) LIMITED (REGISTERED NUMBER: 12700232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mr J T Hughes
Balance outstanding at start of year (1,452 ) (16,846 )
Amounts advanced 180,220 235,988
Amounts repaid (115,038 ) (220,594 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,730 (1,452 )

Mr M I Kerr
Balance outstanding at start of year (76,452 ) (3,433 )
Amounts advanced 121,257 75,599
Amounts repaid (46,056 ) (148,618 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,251 ) (76,452 )

Mr G Larter
Balance outstanding at start of year (1,452 ) (28,398 )
Amounts advanced 67,941 115,678
Amounts repaid (2,812 ) (88,732 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,677 (1,452 )