G&A Facilities Services Limited Filleted accounts for Companies House (small and micro)

G&A FACILITIES SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05528684

G&A Facilities Services Limited

Filleted Unaudited Financial Statements

31 August 2018

G&A Facilities Services Limited

Statement of Financial Position

31 August 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	7		5,178	6,731

Current assets

Debtors	8	346	435
Cash at bank and in hand		63,045	68,423
		--------	--------
		63,391	68,858

Creditors: amounts falling due within one year	9	41,047		30,499
		--------		--------
Net current assets			22,344	38,359
			--------	--------
Total assets less current liabilities			27,522	45,090
			--------	--------
Net assets			27,522	45,090
			--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	27,521	45,089
	--------	--------
Shareholder funds	27,522	45,090
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 2018 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 year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

G&A Facilities Services Limited

Statement of Financial Position (continued)

31 August 2018

These financial statements were approved by the board of directors and authorised for issue on 30 May 2019 , and are signed on behalf of the board by:

Mr B Gayden
Director

Company registration number: 05528684

G&A Facilities Services Limited

Notes to the Financial Statements

Year ended 31 August 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7th Floor, Minster House, 42 Mincing Lane, London, EC3R 7AE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	25% reducing balance
Computer Equipments	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2017: 3 ).

5. Tax on profit

Major components of tax expense

	2018	2017
	£	£

Current tax:

UK current tax expense	6,498	5,991
	-------	-------
Tax on profit	6,498	5,991
	-------	-------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2017: higher than) the standard rate of corporation tax in the UK of 19 % (2017: 19.58 %).

	2018	2017
	£	£
Profit on ordinary activities before taxation	26,930	22,258
	--------	--------
Profit on ordinary activities by rate of tax	5,117	4,358
Effect of expenses not deductible for tax purposes	1,115	1,015
Effect of capital allowances and depreciation	266	618
	--------	--------
Tax on profit	6,498	5,991
	--------	--------

6. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2018	2017
	£	£
Equity dividends on ordinary shares	38,000	36,500
	--------	--------

7. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 September 2017	25,785	21,517	47,302
Additions	1,147	236	1,383
	--------	--------	--------
At 31 August 2018	26,932	21,753	48,685
	--------	--------	--------
Depreciation
At 1 September 2017	20,505	20,066	40,571
Charge for the year	1,607	1,329	2,936
	--------	--------	--------
At 31 August 2018	22,112	21,395	43,507
	--------	--------	--------
Carrying amount
At 31 August 2018	4,820	358	5,178
	--------	--------	--------
At 31 August 2017	5,280	1,451	6,731
	--------	--------	--------

8. Debtors

	2018	2017
	£	£
Other debtors	346	435
	----	----

9. Creditors: amounts falling due within one year

	2018	2017
	£	£
Corporation tax	6,497	5,991
Social security and other taxes	8,793	7,126
Other creditors	25,757	17,382
	--------	--------
	41,047	30,499
	--------	--------

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr B Gayden	( 15,109)	( 7,898)	( 23,007)
	--------	-------	--------

	2017
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr B Gayden	( 6,832)	( 8,277)	( 15,109)
	-------	-------	--------

11. Related party transactions

The company is controlled by B Gayden, a director of the company, by virtue of his holding of 100% of the company's issued share capital. Included within Other creditors is £23,007.03 owed to B Gayden. This amount is interest free and no date for repayment has been set.