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Registration number: 3136550

G.S. Kelsey Construction Limited
Filleted Unaudited Financial Statements
for the Year Ended 31 March 2025

G.S. Kelsey Construction Limited

(Registration number: 3136550)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 59,661 | 40,319
Current assets |  |  |
Stocks |  | 129,325 | 129,325
Debtors | 5 | 1,882,741 | 1,854,937
Cash at bank and in hand |  | 1,784,802 | 1,176,401
|  | 3,796,868 | 3,160,663
Creditors: Amounts falling due within one year | 6 | (2,426,655) | (2,175,627)
Net current assets |  | 1,370,213 | 985,036
Total assets less current liabilities |  | 1,429,874 | 1,025,355
Provisions for liabilities |  | (12,707) | 601
Net assets |  | 1,417,167 | 1,025,956
Capital and reserves |  |  |
Called up share capital | 7 | 925 | 925
Capital redemption reserve |  | 75 | 75
Retained earnings |  | 1,416,167 | 1,024,956
Shareholders' funds |  | 1,417,167 | 1,025,956

G.S. Kelsey Construction Limited

(Registration number: 3136550)
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 and 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 12 November 2025 and signed on its behalf by:

Mr A Kelsey Director |  |

G.S. Kelsey Construction Limited

Notes to the 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:
15 Old School Lane
Bottesford
Scunthorpe
North Linconshire
DN16 3RD
The financial statements are presented in Sterling, which is the functional currency of the company,
rounded to the nearest pound.
Registered number: 03136550.

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.

Revenue recognition

Turnover comprises the fair value of contracting work executed during the year plus the invoiced value of other sales. The valuation of contracting work is based on measured valuations, incorporating profit earned to the valuation date and adjusted for any anticipated losses. Other sales are invoiced upon performance of the services provided.
The amount by which recorded turnover on uncompleted contracts is in excess of payments on account is classified as amounts recoverable on contracts and is within debtors.
The amount by which payments on account on uncompleted contracts is in excess of recorded turnover is classified as long term contract payments on account and is within creditors.
Turnover is shown net of 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.

G.S. Kelsey Construction Limited

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

Tax

The tax expense for the period comprises current and 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 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 over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office premises | 5% per annum on cost
Plant and machinery | 20% per annum on written down value
Motor vehicles | 25% per annum on 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 less aprovision 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.
Sales retentions are held within debtors until they are received.

G.S. Kelsey Construction Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost method.
At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 29 (2024 - 28).

G.S. Kelsey Construction Limited

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

4 | Tangible assets

| Office premises £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 41,446 | 68,065 | 59,461 | 168,972
Additions | - | 4,494 | 25,300 | 29,794
At 31 March 2025 | 41,446 | 72,559 | 84,761 | 198,766
Depreciation
At 1 April 2024 | 19,552 | 57,465 | 51,636 | 128,653
Charge for the year | 2,764 | 3,018 | 4,670 | 10,452
At 31 March 2025 | 22,316 | 60,483 | 56,306 | 139,105
Carrying amount
At 31 March 2025 | 19,130 | 12,076 | 28,455 | 59,661
At 31 March 2024 | 21,894 | 10,600 | 7,825 | 40,319

G.S. Kelsey Construction Limited

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

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 713,784 | 642,119
Other debtors | 1,168,957 | 1,212,818
Total current trade and other debtors | 1,882,741 | 1,854,937

6 | Creditors

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 1,715,941 | 1,659,417
Social security and other taxes | 263,888 | 107,767
Other creditors | 446,826 | 408,443
| 2,426,655 | 2,175,627

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 925 | 925 | 925 | 925