Global Machinery Services (SPC) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07139401 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2019

for

Global Machinery Services (SPC) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G P Shrimpton

P H Cook

REGISTERED OFFICE:

C/O Steven Burton & Co Ltd

Broomfield Park, Coggeshall Road

Earls Colne

Colchester

Essex

CO6 2JX

REGISTERED NUMBER:

07139401 (England and Wales)

ACCOUNTANTS:

Steven Burton & Co Limited

Broomfield Park

Coggeshall Road

Earls Colne

Colchester

Essex

CO6 2JX

FIXED ASSETS

Tangible assets

4

261

348

Investments

5

1

1

262

349

CURRENT ASSETS

Stocks

2,670

2,000

Debtors

6

8,182

4,928

Cash at bank

77,848

74,757

88,700

81,685

CREDITORS

Amounts falling due within one year

7

29,260

25,469

NET CURRENT ASSETS

59,440

56,216

TOTAL ASSETS LESS CURRENT LIABILITIES

59,702

56,565

PROVISIONS FOR LIABILITIES

8

50

67

NET ASSETS

59,652

56,498

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

58,652

55,498

SHAREHOLDERS' FUNDS

59,652

56,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 13 August 2019 and were signed on its behalf by:

G P Shrimpton - Director

1.	STATUTORY INFORMATION

Global Machinery Services (SPC) Limited 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

The company's turnover represents the value, excluding value added tax, of goods and services supplied to customers

during the year.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets

and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related

parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in

profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the

asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2018

and 31 January 2019

1,586

DEPRECIATION

At 1 February 2018

1,238

Charge for year

87

At 31 January 2019

1,325

NET BOOK VALUE

At 31 January 2019

261

At 31 January 2018

348

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2018

and 31 January 2019

1

NET BOOK VALUE

At 31 January 2019

1

At 31 January 2018

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade debtors

5,347

2,770

Amounts owed by group undertakings

655

582

Other debtors

2,180

1,576

8,182

4,928

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade creditors

17,788

12,800

Taxation and social security

4,352

6,454

Other creditors

7,120

6,215

29,260

25,469

8.	PROVISIONS FOR LIABILITIES

31.1.19

31.1.18

£

£

Deferred tax

50

67

Deferred

tax

£

Balance at 1 February 2018

67

Accelerated capital allowances

(17

)

Balance at 31 January 2019

50

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.19

31.1.18

value:

£

£

1,000

Ordinary

£1

1,000

1,000