Go Escalator Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06052341 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

FOR

GO ESCALATOR SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

W Powell

SECRETARY:

Mrs L C Powell

REGISTERED OFFICE:

Unit 19, Headley Park

10 Headley Road East

Woodley

Reading

Berkshire

RG5 4SW

REGISTERED NUMBER:

06052341 (England and Wales)

ACCOUNTANTS:

RJP LLP

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

FIXED ASSETS

Tangible assets

4

123,484

130,835

CURRENT ASSETS

Stocks

275,309

165,000

Debtors

5

429,375

391,935

Cash at bank

710,932

384,926

1,415,616

941,861

CREDITORS

Amounts falling due within one year

6

741,070

477,529

NET CURRENT ASSETS

674,546

464,332

TOTAL ASSETS LESS CURRENT LIABILITIES

798,030

595,167

PROVISIONS FOR LIABILITIES

8

8,106

5,942

NET ASSETS

789,924

589,225

CAPITAL AND RESERVES

Called up share capital

9

24

24

Retained earnings

10

789,900

589,201

SHAREHOLDERS' FUNDS

789,924

589,225

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 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 30 July 2019 and were signed by:

W Powell - Director

1.	STATUTORY INFORMATION

Go Escalator Services 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

Turnover represents net invoiced sales of escalator repair services and materials, excluding Value Added Tax.

Turnover is recognised in the period in which the service was provided.

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

-

18% 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.

Cost is defined as the actual cost of materials purchased. Net realisable value is defined as the expected selling

price less any expected future costs.

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.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2018 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2018

282,314

Additions

21,752

Disposals

(10,950

)

At 31 January 2019

293,116

DEPRECIATION

At 1 February 2018

151,479

Charge for year

25,590

Eliminated on disposal

(7,437

)

At 31 January 2019

169,632

NET BOOK VALUE

At 31 January 2019

123,484

At 31 January 2018

130,835

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade debtors

351,959

338,798

Other debtors

77,416

53,137

429,375

391,935

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade creditors

167,838

161,498

Taxation and social security

300,111

224,045

Other creditors

273,121

91,986

741,070

477,529

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.1.19

31.1.18

£

£

Within one year

37,253

54,634

Between one and five years

-

37,253

37,253

91,887

8.	PROVISIONS FOR LIABILITIES

31.1.19

31.1.18

£

£

Deferred tax

8,106

5,942

Deferred

tax

£

Balance at 1 February 2018

5,942

Provided during year

2,164

Balance at 31 January 2019

8,106

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.19

31.1.18

value:

£

£

24

Ordinary

£1.00

24

24

10.

RESERVES

Retained

earnings

£

At 1 February 2018

589,201

Profit for the year

717,699

Dividends

(517,000

)

At 31 January 2019

789,900

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2019 and

31 January 2018:

31.1.19

31.1.18

£

£

Director

Balance outstanding at start of year

(7,874

)

-

Amounts advanced

167,082

233,877

Amounts repaid

(258,500

)

(241,751

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(99,292

)

(7,874

)

12.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £99,292 (2018 - £7,874) to a shareholder.