Gleneagles Project Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05871949 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2019 TO 31 AUGUST 2019

FOR

GLENEAGLES PROJECT SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B P Dickson

A J Murray

T M Taylor

SECRETARY:

Ms K L Eyre

REGISTERED OFFICE:

2 Pellon Place Bradley Business Park

Dyson Wood Way

Huddersfield

HD2 1GT

REGISTERED NUMBER:

05871949 (England and Wales)

AUDITORS:

John Williams and Co

Chartered Accountants

Statutory Auditors

Chart House

2 Effingham Road

Reigate

Surrey

RH2 7JN

FIXED ASSETS

Tangible assets

4

1,520

2,878

CURRENT ASSETS

Debtors

5

553,874

458,498

Cash at bank and in hand

237,871

546,350

791,745

1,004,848

CREDITORS

Amounts falling due within one year

6

186,824

211,551

NET CURRENT ASSETS

604,921

793,297

TOTAL ASSETS LESS CURRENT LIABILITIES

606,441

796,175

PROVISIONS FOR LIABILITIES

76

80

NET ASSETS

606,365

796,095

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

606,265

795,995

SHAREHOLDERS' FUNDS

606,365

796,095

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2020 and were signed on its behalf by:

B P Dickson - Director

1.	STATUTORY INFORMATION

Gleneagles Project 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.

The reporting period has changed to an eight month period. This is due to Horizon Parking Limited purchasing

100% of the shares of Gleneagles Project Services Limited. Gleneagles Project Services Limited has now aligned

their reporting period with Horizon Parking Limited who has a year end of 31st August. Due to the shortened

period, the comparative amounts presented in the financial statements (including the related notes) are not

entirely comparable.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

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.

Office equipment

-

33% on cost

Taxation

Taxation for the period 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 period 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.

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 period was 18 (2018 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 January 2019

and 31 August 2019

107,229

DEPRECIATION

At 1 January 2019

104,351

Charge for period

1,358

At 31 August 2019

105,709

NET BOOK VALUE

At 31 August 2019

1,520

At 31 December 2018

2,878

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

416,749

419,600

Other debtors

-

3,208

Prepayments and accrued income

137,125

35,690

553,874

458,498

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

20,599

4,834

Tax

61,998

35,736

Social security and other taxes

20,002

27,759

VAT

71,222

102,354

Other creditors

6,191

32,682

Directors' current accounts

3

3

Accruals and deferred income

6,809

8,183

186,824

211,551

7.	LEASING AGREEMENTS

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

2019

2018

£

£

Within one year

29,048

14,524

Between one and five years

116,192

-

In more than five years

24,207

-

169,447

14,524

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 January 2019

795,995

Profit for the period

110,270

Dividends

(300,000

)

At 31 August 2019

606,265

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr J Williams (Senior Statutory Auditor)

for and on behalf of John Williams and Co

11.	RELATED PARTY DISCLOSURES

Gleneagles Project Services Limited is wholly owned by Horizon Parking Limited. Horizon Parking Limited

draw up consolidated financial statements for the group.

The parent's registered office is:

Finitor House

2 Hanbury Road

Chelmsford

Essex

CM1 3AE

12.	ULTIMATE CONTROLLING PARTY

The controlling party is B P Dickson.