Company Registration No. 4205161 (England and Wales)
GASP Systems Limited
Unaudited accounts
for the year ended 31 October 2024
GASP Systems Limited
Unaudited accounts
Contents
GASP Systems Limited
Company Information
for the year ended 31 October 2024
Directors
Stephen Richard Gould
Janet Louise Gould
Secretary
Mrs Janet Louise Gould
Company Number
4205161 (England and Wales)
Registered Office
LLOYDS BANK CHAMBERS
HIGH STREET
CREDITON
DEVON
EX17 3AH
England
GASP Systems Limited
Statement of financial position
as at 31 October 2024
Tangible assets
20,201
26,636
Inventories
123,811
88,151
Cash at bank and in hand
70,240
127,430
Creditors: amounts falling due within one year
(119,310)
(71,916)
Net current assets
218,905
273,589
Total assets less current liabilities
239,106
300,225
Creditors: amounts falling due after more than one year
(17,500)
(27,500)
Net assets
221,606
272,725
Called up share capital
2
2
Profit and loss account
221,604
272,723
Shareholders' funds
221,606
272,725
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2025 and were signed on its behalf by
Stephen Richard Gould
Director
Company Registration No. 4205161
GASP Systems Limited
Notes to the Accounts
for the year ended 31 October 2024
GASP Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 4205161. The registered office is LLOYDS BANK CHAMBERS, HIGH STREET, CREDITON, DEVON, EX17 3AH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
4
Intangible fixed assets
Goodwill
GASP Systems Limited
Notes to the Accounts
for the year ended 31 October 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 November 2023
96,133
59,522
155,655
At 31 October 2024
96,133
59,522
155,655
At 1 November 2023
89,369
39,650
129,019
Charge for the year
1,353
5,082
6,435
At 31 October 2024
90,722
44,732
135,454
At 31 October 2024
5,411
14,790
20,201
At 31 October 2023
6,764
19,872
26,636
Amounts falling due within one year
Trade debtors
143,164
84,351
Other debtors
1,000
45,573
7
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
409
2,862
Trade creditors
81,423
44,222
Taxes and social security
20,797
17,297
Other creditors
6,322
5,535
Loans from directors
8,359
-
8
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 4 (2023: 4).