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COMPANY REGISTRATION NUMBER: 02557000
General Environmental Services Limited
Filleted Unaudited Financial Statements
30 September 2024
General Environmental Services Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
222,703
249,844
Current assets
Stocks
20,000
27,000
Debtors
6
296,894
526,091
Cash at bank and in hand
154,745
45,079
----------
----------
471,639
598,170
Creditors: amounts falling due within one year
7
369,755
473,524
----------
----------
Net current assets
101,884
124,646
----------
----------
Total assets less current liabilities
324,587
374,490
Creditors: amounts falling due after more than one year
8
49,324
96,257
Provisions
Taxation including deferred tax
25,000
26,000
----------
----------
Net assets
250,263
252,233
----------
----------
Capital and reserves
Called up share capital
604
604
Share premium account
30,439
30,439
Profit and loss account
219,220
221,190
----------
----------
Shareholders funds
250,263
252,233
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
General Environmental Services Limited
Statement of Financial Position (continued)
30 September 2024
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 June 2025 , and are signed on behalf of the board by:
C J Davis
Director
Company registration number: 02557000
General Environmental Services Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 242\242a Farnham Road, Slough, Berkshire, SL1 4XE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership. It is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be be reliably measured using a percentage of completion method.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Office equipment
-
25% reducing balance
Motor vehicles
-
20% reducing balance
Computer equipment
-
33% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 32 (2023: 42 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 October 2023
25,734
32,063
548,143
164,006
769,946
Additions
141
52,644
1,262
54,047
Disposals
( 102,531)
( 102,531)
---------
---------
----------
----------
----------
At 30 September 2024
25,734
32,204
498,256
165,268
721,462
---------
---------
----------
----------
----------
Depreciation
At 1 October 2023
23,478
31,586
312,274
152,764
520,102
Charge for the year
564
155
52,969
3,829
57,517
Disposals
( 78,860)
( 78,860)
---------
---------
----------
----------
----------
At 30 September 2024
24,042
31,741
286,383
156,593
498,759
---------
---------
----------
----------
----------
Carrying amount
At 30 September 2024
1,692
463
211,873
8,675
222,703
---------
---------
----------
----------
----------
At 30 September 2023
2,256
477
235,869
11,242
249,844
---------
---------
----------
----------
----------
6. Debtors
2024
2023
£
£
Trade debtors
214,174
462,711
Other debtors
82,720
63,380
----------
----------
296,894
526,091
----------
----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
73,276
100,161
Social security and other taxes
189,663
229,370
Other creditors
96,816
133,993
----------
----------
369,755
473,524
----------
----------
The company bankers have an unscheduled mortgage debenture dated 20 September 1999 incorporating a fixed and floating charge over all current and future assets of the company.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,333
18,334
Other creditors
40,991
77,923
---------
---------
49,324
96,257
---------
---------
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Trade debtors
214,174
462,711
----------
----------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
679
Later than 1 year and not later than 5 years
243,000
139,503
----------
----------
243,000
140,182
----------
----------
11. Related party transactions
During the year the following transactions took place with related parties: The company charged management charges in respect of labour, motor expenses and overhead costs totalling £264,000 (2023 - £224,550) exclusive of Value Added Tax, to GES - Water Ltd, a company under the control of C J Davis , and his immediate family. Debtors include £41,678 (2023 - £34,778) owed by GES - Water Ltd. Creditors include an interest free loan of £26,809 (2023 - £11,809) from GES - Water Ltd. There is no fixed repayment date for this loan. The company purchased goods totalling £18,076 (2023 - nil) exclusive of Value Added Tax, from Legionella Tech Ltd, a company in which C J Davis and G V Davis are directors and shareholders. Creditors include £8,305 (2023 - £4,743) owed to Legionella Tech Ltd. Debtors include an interest free loan of £2,040 (2023 - nil) to Legionella Tech Ltd. There is no fixed repayment date for this loan. The company incurred office cleaning costs totalling £5,120 (2023 - £4,600) from Ironing Lady, a business run by the wife of G V Davis. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102.