| REGISTERED NUMBER: |
| G & H ENGINEERING SERVICES LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| REGISTERED NUMBER: |
| G & H ENGINEERING SERVICES LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| G & H ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 09109551) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| G & H ENGINEERING SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Glenewes House |
| Gate Way Drive |
| Leeds |
| West Yorkshire |
| LS19 7XY |
| G & H ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 09109551) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| G & H ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 09109551) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| G & H Engineering Services Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. |
| The financial statements have been prepared using the going concern basis. |
| The current economic conditions present risks for all businesses. In response to such conditions, the directors have carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. |
| Based on this assessment, the directors consider that the company maintains an appropriate level of liquidity sufficient to meet the demands of the business including any capital and servicing obligations of external debt liabilities. |
| In addition, the company's assets are assessed for recoverability on a regular basis, and the directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. |
| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements. |
| Preparation of consolidated financial statements |
| The company is included in the accounts of its ultimate parent company, G & H Group of Companies (Holdings) Limited. These consolidated accounts are available from Companies House. |
| G & H ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 09109551) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Judgements and key sources of estimation uncertainty |
| The preparation of the financial statements requires the directors to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. These estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events. However, the nature of estimation means that actual results may differ from these estimates. |
| Critical areas of judgement |
| In categorising leases as finance leases or operating leases, management makes judgements as to whether significant risks and rewards of ownership have transferred to the company as lessee. |
| Key sources of estimation uncertainty |
| Determining appropriate rates of depreciation requires an estimation of the useful lives and expected residual values of fixed assets. The net carrying amount of assets is £10,913 (2023:£12,123). During the year depreciation of £3,243 has been provided (2023: £4,669). |
| Revenue recognition |
| Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts and rebates, and is stated net of Value Added Tax. |
| Rendering of services |
| Turnover shown in the profit and loss account is derived from the rendering of services, being commission receivable. |
| Tangible fixed assets |
| Improvements to property | - |
| Fixtures and fittings | - |
| Financial instruments |
| Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. |
| Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss. |
| Basic financial instruments |
| Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans. |
| Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability. |
| Where the arrangement does constitute a financing transaction, e.g. debt with basic terms, the initial measurement is of amortised cost using the effective interest method. In subsequent years the debt instrument is measured at amortised cost less impairment. |
| Impairment |
| At the end of each reporting period the company must assess whether there is objective evidence of impairment of any financial asset held at cost or amortised cost and if there is then an impairment must be recognised immediately in profit or loss. |
| Other financial instruments |
| The company does not have any financial instruments that would not be classed as 'basic'. |
| G & H ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 09109551) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| G & H ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 09109551) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 8. | FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES |
| On 24 April 2023 the company entered into a composite guarantee, along with G & H Group of Companies (Holdings) Limited, G & H Building Services Limited and G & H Maintenance Limited in favour of HSBC UK Bank plc to secure the borrowings of G & H Group of Companies Limited. |
| A fixed and floating charge over all the company's assets was taken by HSBC UK Bank plc. |
| 9. | POST BALANCE SHEET EVENTS |
| Dividends totalling £70,256 were paid after the accounting date. |
| On 31 March 2025 the 90 Ordinary shares of £1 were subdivided into 900 Ordinary shares of £0.10 each and 10 A Ordinary shares of £1 were subdivided into 100 A Ordinary shares of £0.10 each. |
| On 31 March 2025 160 Ordinary shares of £0.10 were allotted and issued. |
| 10. | ULTIMATE PARENT COMPANY |
| G & H Group of Companies (Holdings) Limited (incorporated in England) is regarded by the directors as being the company's ultimate parent company. |