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Registration number: 03326917

GDM (Surfacing Contractors) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

GDM (Surfacing Contractors) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

GDM (Surfacing Contractors) Limited

Company Information

Directors

J Gregory

B Gregory

Registered office

Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Accountants

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
GDM (Surfacing Contractors) Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GDM (Surfacing Contractors) Limited for the year ended 31 March 2025 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of GDM (Surfacing Contractors) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of GDM (Surfacing Contractors) Limited and state those matters that we have agreed to state to the Board of Directors of GDM (Surfacing Contractors) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GDM (Surfacing Contractors) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that GDM (Surfacing Contractors) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of GDM (Surfacing Contractors) Limited. You consider that GDM (Surfacing Contractors) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of GDM (Surfacing Contractors) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

15 July 2025

 

GDM (Surfacing Contractors) Limited

(Registration number: 03326917)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

349,910

423,388

Current assets

 

Debtors

5

650,244

909,857

Cash at bank and in hand

 

341,369

557

 

991,613

910,414

Creditors: Amounts falling due within one year

6

(841,493)

(928,340)

Net current assets/(liabilities)

 

150,120

(17,926)

Total assets less current liabilities

 

500,030

405,462

Creditors: Amounts falling due after more than one year

6

(117,567)

(174,108)

Provisions for liabilities

(57,326)

(35,598)

Net assets

 

325,137

195,756

Capital and reserves

 

Called up share capital

7

10,390

10,390

Retained earnings

314,747

185,366

Shareholders' funds

 

325,137

195,756

 

GDM (Surfacing Contractors) Limited

(Registration number: 03326917)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 July 2025 and signed on its behalf by:
 

.........................................
J Gregory
Director

 

GDM (Surfacing Contractors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

The principal place of business is:
Hillsons Road
Bottings Industrial Estate
Botley
Southampton
SO30 2DY

These financial statements were authorised for issue by the Board on 15 July 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.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

 

GDM (Surfacing Contractors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Government grants

Government grants relating to revenue expenditure are recognised in income over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises 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.

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:

 

GDM (Surfacing Contractors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Asset class

Depreciation method and rate

Plant & machinery

20%- written down value

Fixturs and fittings

15%- written down value

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 and subsequently measured at amortised cost using the effective interest method.

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.

 

GDM (Surfacing Contractors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

GDM (Surfacing Contractors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2024 - 22).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

1,258,102

1,258,102

Additions

14,000

14,000

At 31 March 2025

1,272,102

1,272,102

Depreciation

At 1 April 2024

834,714

834,714

Charge for the year

87,478

87,478

At 31 March 2025

922,192

922,192

Carrying amount

At 31 March 2025

349,910

349,910

At 31 March 2024

423,388

423,388

5

Debtors

Current

2025
£

2024
£

Trade debtors

545,326

707,180

Other debtors

104,918

202,677

 

650,244

909,857

 

GDM (Surfacing Contractors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

56,541

56,790

Trade creditors

 

407,745

448,521

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

251,537

290,468

Taxation and social security

 

17,435

18,971

Accruals and deferred income

 

5,235

5,235

Other creditors

 

103,000

108,355

 

841,493

928,340

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

117,567

174,108

 

GDM (Surfacing Contractors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary Shares of £1 each

10,000

10,000

10,000

10,000

Ordinary B Shares of £1 each

80

80

80

80

Ordinary C Shares of £1 each

1

1

1

1

Ordinary D Shares of £1 each

100

100

100

100

Ordinary E Shares of £1 each

100

100

100

100

Ordinary F Shares of £1 each

100

100

100

100

Ordinary G Shares of £0 each

-

-

-

-

Ordinary H Shares of £1 each

9

9

9

9

10,390

10,390

10,390

10,390

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

13,333

33,333

Hire purchase contracts

104,234

140,775

117,567

174,108

Current loans and borrowings

2025
£

2024
£

Bank borrowings

20,000

20,000

Bank overdrafts

-

2,459

Hire purchase contracts

36,541

34,331

56,541

56,790

 

GDM (Surfacing Contractors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Related party transactions

Summary of transactions with parent

GDM GRP Limited
 During the year dividends of £27,840 (2024- £27,680) were paid to GDM GRP Limited. At the balance sheet date the amount due to GDM GRP Limited was £251,537cr (2024- £290,467cr).