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Registered number: 02640682
Gas Data Limited
Financial Statements
For The Year Ended 31 December 2024
Grenfell James Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—9
Page 1
Balance Sheet
Registered number: 02640682
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 6 268,745 -
Tangible Assets 7 455,645 416,666
724,390 416,666
CURRENT ASSETS
Stocks 8 944,806 983,454
Debtors 9 800,888 820,669
Cash at bank and in hand 474,271 319,410
2,219,965 2,123,533
Creditors: Amounts Falling Due Within One Year 10 (4,586,398 ) (3,487,317 )
NET CURRENT ASSETS (LIABILITIES) (2,366,433 ) (1,363,784 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,642,043 ) (947,118 )
Creditors: Amounts Falling Due After More Than One Year 11 (106,478 ) (105,627 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (130,447 ) (62,112 )
NET LIABILITIES (1,878,968 ) (1,114,857 )
CAPITAL AND RESERVES
Called up share capital 12 26 26
Capital redemption reserve 74 74
Profit and Loss Account (1,879,068 ) (1,114,957 )
SHAREHOLDERS' FUNDS (1,878,968) (1,114,857)
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C D Cummins
Director
07/07/2025
The notes on pages 3 to 9 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gas Data Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02640682 . The registered office is Unit D, Earlplace Business Park, Fletchamstead Highway, Coventry, West Midlands, CV4 9XL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis despite a loss before tax this year of £766,995 which the directors consider to be appropriate due to group Company confirmation that sufficient financial support will be provided to enable the Company to continue its operations for a period of not less than 12 months from the date the balance sheet is signed. As at 31 December 2024, excluding intercompany balances, the Company had net assets of £2,014,325.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to £nil on a straight line basis over their expected useful economic lives, which range from 5 to 10 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Over the term of the lease
Plant & Machinery 10% on straight line
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on straight line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.7. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
...CONTINUED
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2.9. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Related Party Exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
3. Turnover
4. Operating Loss
The operating loss is stated after charging:
2024 2023
£ £
Depreciation of tangible fixed assets 66,636 46,926
5. Average Number of Employees
Average number of employees, including directors, during the year was: 29 (2023: 27)
29 27
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6. Intangible Assets
Development Costs
£
Cost
As at 1 January 2024 -
Additions 268,745
As at 31 December 2024 268,745
Net Book Value
As at 31 December 2024 268,745
As at 1 January 2024 -
7. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 432,348 - 513 116,525
Additions 30,443 59,584 - 8,904
Disposals (69,714 ) (1,077 ) - (14,554 )
As at 31 December 2024 393,077 58,507 513 110,875
Depreciation
As at 1 January 2024 95,005 - 513 44,452
Provided during the period 41,652 7,187 - 10,923
Disposals (69,714 ) - - (14,554 )
As at 31 December 2024 66,943 7,187 513 40,821
Net Book Value
As at 31 December 2024 326,134 51,320 - 70,054
As at 1 January 2024 337,343 - - 72,073
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Computer Equipment Total
£ £
Cost
As at 1 January 2024 54,854 604,240
Additions 7,759 106,690
Disposals - (85,345 )
As at 31 December 2024 62,613 625,585
Depreciation
As at 1 January 2024 47,604 187,574
Provided during the period 6,872 66,634
Disposals - (84,268 )
As at 31 December 2024 54,476 169,940
Net Book Value
As at 31 December 2024 8,137 455,645
As at 1 January 2024 7,250 416,666
8. Stocks
2024 2023
£ £
Stock 944,806 983,454
9. Debtors
2024 2023
£ £
Due within one year
Trade debtors 229,496 337,481
Amounts owed by group undertakings 208,090 209,520
Other debtors 363,302 273,668
800,888 820,669
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10. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 237,161 66,302
Bank loans and overdrafts - 920
Amounts owed to group undertakings 4,101,383 3,124,131
Other creditors 216,546 239,717
Taxation and social security 31,308 56,247
4,586,398 3,487,317
11. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 106,478 105,627
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 26 26
13. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
14. Ultimate Controlling Party
The company's ultimate controlling party is Ecotec International Holdings, LLC .
Incorporated in the United States of America.
15. Leasing Agreements
Minimum lease payments under non-cancellable operating leases fall due as follows:
2024
2023
£
£
Within one year
200,102
187,670
Between one and five years
845,975
825,149
In more than five years
628,284
image
849,213
image
1,674,361
image
1,862,032
image
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16. Audit Information
The auditor's report on the accounts of Gas Data Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Edward Grenfell James (Senior Statutory Auditor) for and on behalf of Grenfell James Audit LLP , Statutory Auditor.
Grenfell James Audit LLP
13 The Courtyard
Timothy's Bridge Road
Stratford Upon Avon
Warwickshire
CV37 9NP
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