Company registration number 14426386 (England and Wales)
GM EQUIPMENT SERVICES LIMITED
ABRIDGED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2024
GM EQUIPMENT SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
GM EQUIPMENT SERVICES LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
1,485
4,000
Debtors
4
3
11,234
Cash at bank and in hand
75,844
16,209
77,332
31,443
Creditors: amounts falling due within one year
5
(83,859)
(18,528)
Net current (liabilities)/assets
(6,527)
12,915
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(6,528)
12,914
Total equity
(6,527)
12,915

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

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 5 June 2025
Grant McGregor
Director
Company registration number 14426386 (England and Wales)
GM EQUIPMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

GM Equipment Services Limited is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

1.2
Going concern

The validity of going concern basis of preparation is dependent on continued financial support from the company's directors and other creditors and on the ability of the company to continue trading. Should the directors and other creditors withdraw their support and the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and re-classify fixed assets as current assets.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

 

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.5
Taxation

The tax expense represents corporation tax currently payable on the profits of the company.

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.

2
Employees

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

2024
2023
Number
Number
Total
1
1
GM EQUIPMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
20,356
9,237
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3
132
Other debtors
-
0
11,102
3
11,234
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
38,711
18
Corporation tax
20,356
9,237
Other taxation and social security
8,894
-
0
Director's current account
12,898
6,833
Accruals
3,000
2,440
83,859
18,528
2024-10-312023-11-01falseCCH SoftwareCCH Accounts Production 2024.100No description of principal activityGrant McGregorfalsefalse144263862023-11-012024-10-31144263862024-10-31144263862023-10-3114426386core:CurrentFinancialInstrumentscore:WithinOneYear2024-10-3114426386core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-3114426386core:CurrentFinancialInstruments2024-10-3114426386core:CurrentFinancialInstruments2023-10-3114426386core:ShareCapital2024-10-3114426386core:ShareCapital2023-10-3114426386core:RetainedEarningsAccumulatedLosses2024-10-3114426386core:RetainedEarningsAccumulatedLosses2023-10-3114426386bus:Director12023-11-012024-10-31144263862022-10-182023-10-3114426386core:UKTax2023-11-012024-10-3114426386core:UKTax2022-10-182023-10-3114426386bus:PrivateLimitedCompanyLtd2023-11-012024-10-3114426386bus:SmallCompaniesRegimeForAccounts2023-11-012024-10-3114426386bus:FRS1022023-11-012024-10-3114426386bus:AuditExempt-NoAccountantsReport2023-11-012024-10-3114426386bus:FullAccounts2023-11-012024-10-31xbrli:purexbrli:sharesiso4217:GBP