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Registration number: 09751412

G F Mechanical Services Limited

trading as Van Kraft

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

G F Mechanical Services Limited

trading as Van Kraft

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

G F Mechanical Services Limited

trading as Van Kraft

Company Information

Director

Mr G Finlay

Registered office

4e St Francis Way
Shefford
SG17 5DZ

 

G F Mechanical Services Limited

trading as Van Kraft

(Registration number: 09751412)
Balance Sheet as at 31 August 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

101,819

41,969

Current assets

 

Debtors

5

60,683

59,559

Cash at bank and in hand

 

10,882

48,341

 

71,565

107,900

Creditors: Amounts falling due within one year

6

(51,499)

(49,305)

Net current assets

 

20,066

58,595

Total assets less current liabilities

 

121,885

100,564

Creditors: Amounts falling due after more than one year

6

(3,756)

(17,972)

Provisions for liabilities

(19,345)

(7,974)

Net assets

 

98,784

74,618

Capital and reserves

 

Called up share capital

7

10

10

Retained earnings

98,774

74,608

Shareholders' funds

 

98,784

74,618

For the financial year ending 31 August 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 year 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.

 

G F Mechanical Services Limited

trading as Van Kraft

(Registration number: 09751412)
Balance Sheet as at 31 August 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 21 May 2025
 

.........................................
Mr G Finlay
Director

 

G F Mechanical Services Limited

trading as Van Kraft

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
4e St Francis Way
Shefford
SG17 5DZ

These financial statements were authorised for issue by the director on 21 May 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

G F Mechanical Services Limited

trading as Van Kraft

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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.

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

Plant and machinery

29% reducing balance

Fixtures and fittings

23% reducing balance

Motor vehicles

34% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

 

G F Mechanical Services Limited

trading as Van Kraft

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

G F Mechanical Services Limited

trading as Van Kraft

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

11,918

99,331

11,924

123,173

Additions

733

89,141

3,088

92,962

Disposals

-

(32,388)

-

(32,388)

At 31 August 2024

12,651

156,084

15,012

183,747

Depreciation

At 1 September 2023

5,393

67,721

8,090

81,204

Charge for the year

1,595

17,629

1,228

20,452

Eliminated on disposal

-

(19,728)

-

(19,728)

At 31 August 2024

6,988

65,622

9,318

81,928

Carrying amount

At 31 August 2024

5,663

90,462

5,694

101,819

At 31 August 2023

6,525

31,610

3,834

41,969

5

Debtors

Current

2024
£

2023
£

Trade debtors

818

1,663

Prepayments

2,328

3,613

Other debtors

57,537

54,283

 

60,683

59,559

 

G F Mechanical Services Limited

trading as Van Kraft

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

(As restated)

2023
£

Due within one year

 

Loans and borrowings

8

4,994

-

Trade creditors

 

3,538

3,637

Taxation and social security

 

1,975

6,754

Accruals and deferred income

 

1,150

1,650

Other creditors

 

39,842

37,264

 

51,499

49,305

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

3,756

17,972

7

Share capital

Allotted, called up and fully paid shares

2024

2023
As restated

No.

£

No.

£

Ordinary of £0.10 each

100

10

100

10

       


Prior Year Adjustment:

The comparative figures have been restated to correct the previously incorrect disclosure of the allotted share capital.

 

G F Mechanical Services Limited

trading as Van Kraft

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

3,756

17,972

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,994

-