Gibson Specialist Technical Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06635851 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018

FOR

GIBSON SPECIALIST TECHNICAL SERVICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P H Gibson

SECRETARY:

REGISTERED OFFICE:

Atlantic House

Charnwood Park

Bridgend Road

Bridgend

CF31 3PL

REGISTERED NUMBER:

06635851 (England and Wales)

ACCOUNTANTS:

Roger Byers & Co. Limited

Castle Buildings

23 Church Place

Neath

SA11 3LP

FIXED ASSETS

Tangible assets

4

279,183

182,174

CURRENT ASSETS

Stocks

183,000

-

Debtors

5

541,472

578,505

Cash at bank

399,513

261,290

1,123,985

839,795

CREDITORS

Amounts falling due within one year

6

(472,029

)

(212,955

)

NET CURRENT ASSETS

651,956

626,840

TOTAL ASSETS LESS CURRENT LIABILITIES

931,139

809,014

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

931,137

809,012

SHAREHOLDERS' FUNDS

931,139

809,014

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26 April 2019 and were signed by:

P H Gibson - Director

1.	STATUTORY INFORMATION

Gibson Specialist Technical Services Ltd is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2017

237,678

Additions

115,226

At 31 July 2018

352,904

DEPRECIATION

At 1 August 2017

55,504

Charge for year

18,217

At 31 July 2018

73,721

NET BOOK VALUE

At 31 July 2018

279,183

At 31 July 2017

182,174

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

480,798

495,468

Other debtors

60,674

83,037

541,472

578,505

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

90,135

49,369

Trade creditors

327,362

119,447

Taxation and social security

19,564

35,087

Other creditors

34,968

9,052

472,029

212,955

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

1

2

2