Company No: 03707282 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTOR

G S Northcott

SECRETARY

G L Northcott

REGISTERED OFFICE	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT
	United Kingdom

COMPANY NUMBER

03707282 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	27,366		9,836
		27,366		9,836
Current assets
Stocks		11,000		6,500
Debtors	4	39,936		13,945
Cash at bank and in hand		25,683		65,333
		76,619		85,778
Creditors: amounts falling due within one year	5	( 31,552)		( 36,557)
Net current assets		45,067		49,221
Total assets less current liabilities		72,433		59,057
Creditors: amounts falling due after more than one year	6	( 671)		( 4,671)
Provision for liabilities	7	( 6,842)		( 2,459)
Net assets		64,920		51,927
Capital and reserves
Called-up share capital		2		2
Profit and loss account		64,918		51,925
Total shareholder's funds		64,920		51,927

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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of GSN Maintenance Limited (registered number: 03707282) were approved and authorised for issue by the Director on 10 December 2025. They were signed on its behalf by:

G S Northcott Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

GSN Maintenance Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT, United Kingdom.

The financial statements have been prepared under the historical cost convention, unless otherwise stated, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	20 % reducing balance
Vehicles	20 % reducing balance
Fixtures and fittings	20 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		2

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	2,123		15,783		626		18,532
Additions	690		22,085		0		22,775
Disposals	( 516)		( 5,483)		0		( 5,999)
At 31 March 2025	2,297		32,385		626		35,308
Accumulated depreciation
At 01 April 2024	1,222		7,131		343		8,696
Charge for the financial year	335		2,800		57		3,192
Disposals	( 145)		( 3,801)		0		( 3,946)
At 31 March 2025	1,412		6,130		400		7,942
Net book value
At 31 March 2025	885		26,255		226		27,366
At 31 March 2024	901		8,652		283		9,836

4. Debtors

	2025		2024
	£		£
Trade debtors	29,890		6,317
Amounts owed by Group undertakings	2,484		2,484
Prepayments	1,804		985
Other debtors	5,758		4,159
	39,936		13,945

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	6,185		3,996
Trade creditors	6,186		5,106
Amounts owed to director	3,297		2,914
Accruals	2,600		2,000
Corporation tax	6,515		13,432
Other taxation and social security	6,491		8,832
Other creditors	278		277
	31,552		36,557

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	671		4,671

7. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 2,459)		( 2,280)
Charged to the Statement of Income and Retained Earnings	( 4,383)		( 179)
At the end of financial year	( 6,842)		( 2,459)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 6,842)		( 2,459)