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REGISTERED NUMBER: 07779526 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2024

for

GAC Environmental Limited

GAC Environmental Limited (Registered number: 07779526)






Contents of the Financial Statements
for the year ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GAC Environmental Limited

Company Information
for the year ended 30 September 2024







DIRECTORS: G A Clements
Mrs A Clements
D Minns





SECRETARY: Mrs A Clements





REGISTERED OFFICE: 149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR





REGISTERED NUMBER: 07779526 (England and Wales)





ACCOUNTANTS: Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

GAC Environmental Limited (Registered number: 07779526)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 25,624 31,540
Investments 5 100 100
25,724 31,640

CURRENT ASSETS
Debtors 6 3,517,523 1,791,782
Prepayments and accrued income 16,269 327
Cash at bank and in hand 341,172 401,328
3,874,964 2,193,437
CREDITORS
Amounts falling due within one year 7 2,318,807 868,239
NET CURRENT ASSETS 1,556,157 1,325,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,581,881

1,356,838

CREDITORS
Amounts falling due after more than
one year

8

6,387

10,127
NET ASSETS 1,575,494 1,346,711

CAPITAL AND RESERVES
Called up share capital 115 115
Share premium 9 95,960 95,960
Other reserves 9 1,207,100 935,102
Retained earnings 9 272,319 315,534
1,575,494 1,346,711

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

GAC Environmental Limited (Registered number: 07779526)

Balance Sheet - continued
30 September 2024


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 24 June 2025 and were signed on its behalf by:





G A Clements - Director


GAC Environmental Limited (Registered number: 07779526)

Notes to the Financial Statements
for the year ended 30 September 2024

1. STATUTORY INFORMATION

GAC Environmental 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 as modified by the revaluation of certain assets.

Turnover
Revenue 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Software - 33% on cost
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

GAC Environmental Limited (Registered number: 07779526)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 14 (2023 - 13 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor Computer
Software fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 3,950 3,213 37,485 28,131 72,779
Additions - 285 - 1,962 2,247
At 30 September 2024 3,950 3,498 37,485 30,093 75,026
DEPRECIATION
At 1 October 2023 3,950 2,720 13,137 21,432 41,239
Charge for year - 159 6,088 1,916 8,163
At 30 September 2024 3,950 2,879 19,225 23,348 49,402
NET BOOK VALUE
At 30 September 2024 - 619 18,260 6,745 25,624
At 30 September 2023 - 493 24,348 6,699 31,540

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 17,959
DEPRECIATION
At 1 October 2023 2,993
Charge for year 3,742
At 30 September 2024 6,735
NET BOOK VALUE
At 30 September 2024 11,224
At 30 September 2023 14,966

GAC Environmental Limited (Registered number: 07779526)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 October 2023
and 30 September 2024 100
NET BOOK VALUE
At 30 September 2024 100
At 30 September 2023 100

Cost or valuation at 30 September 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2021 - - 2,760
Cost 100 - 100
100 - 2,860

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,971,541 612,383
Amounts owed by group undertakings - 19,008
Other debtors 1,545,982 1,160,391
3,517,523 1,791,782

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,740 3,325
Trade creditors 1,764,123 633,164
Amounts owed to group undertakings 9,186 -
Taxation and social security 173,710 91,374
Other creditors 368,048 140,376
2,318,807 868,239

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 6,387 10,127

GAC Environmental Limited (Registered number: 07779526)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

9. RESERVES
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1 October 2023 315,534 95,960 935,102 1,346,596
Profit for the year 233,782 233,782
Dividends (5,000 ) (5,000 )
Capital contribution to EOT (271,997 ) - 271,998 1
At 30 September 2024 272,319 95,960 1,207,100 1,575,379

10. ULTIMATE CONTROLLING PARTY

90 of the 115 ordinary shares of the company are registered in the name of GAC Environmental Trustees Limited on behalf of the the GAC Environmental Employee Ownership Trust whos is the ultimate controlling party.

11. EMPLOYEE OWNERSHIP TRUST

The Company has chosen to adopt FRS102 in accounting for the Employee Ownership Trust (EOT).The Company has effective control of the EOT, accordingly, the assets and liabilities are accounted for as an extension to the Company. The Company's equity instruments held by the EOT are accounted for as if they were the Company's own equity and treated as Other Reserves. No gain or loss is recognised as profit or loss on the purchase, sale or cancellation of the Company's owen equity held by the EOT.