Registration number: SC584826

Gap Devon Plumbing & Heating Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Gap Devon Plumbing & Heating Ltd

Company Information

Directors

Mr Grant Devon Mr Steven Hanlon

Registered office

10 Parkmanor Avenue Glasgow G53 7ZD

Accountants

Clyde Business Services 159 King Street Glasgow Lanarkshire G73 1BZ

Gap Devon Plumbing & Heating Ltd

(Registration number: SC584826)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	23,896	29,870
Current assets
Debtors	5	99,200	39,295
Cash at bank and in hand		265,237	306,468
		364,437	345,763
Creditors: Amounts falling due within one year	6	(71,077)	(72,168)
Net current assets		293,360	273,595
Total assets less current liabilities		317,256	303,465
Creditors: Amounts falling due after more than one year	6	(29,114)	(34,242)
Net assets		288,142	269,223
Capital and reserves
Called up share capital	7	1	1
Retained earnings		288,141	269,222
Shareholders' funds		288,142	269,223

For the financial year ending 31 January 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 22 August 2025 and signed on its behalf by:
 

......................................... Mr Grant Devon Director

Gap Devon Plumbing & Heating Ltd

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

1	General information

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

The address of its registered office is:
10 Parkmanor Avenue
Glasgow
G53 7ZD

These financial statements were authorised for issue by the Board on 22 August 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.

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.

Tax

The tax expense for the period comprises current 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.

Gap Devon Plumbing & Heating Ltd

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

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:

Asset class	Depreciation method and rate
plant & machinery	20% reducing balance

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.

Gap Devon Plumbing & Heating Ltd

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

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 2).

Gap Devon Plumbing & Heating Ltd

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

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 February 2024	45,037	45,037
At 31 January 2025	45,037	45,037
Depreciation
At 1 February 2024	15,167	15,167
Charge for the year	5,974	5,974
At 31 January 2025	21,141	21,141
Carrying amount
At 31 January 2025	23,896	23,896
At 31 January 2024	29,870	29,870

5

Debtors

Current	2025 £	2024 £
Trade debtors	99,176	31,827
Other debtors	24	7,468
	99,200	39,295

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	-	415
Taxation and social security	5,956	26,030
Other creditors	65,121	45,723
	71,077	72,168

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	29,114	34,242

Gap Devon Plumbing & Heating Ltd

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

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	29,114	34,242

9

Dividends

		2025		2024
		£		£
Interim dividend of £500.00 (2024 - £1,000.00) per ordinary share		500		1,000