Gkl Building & Civil Engineering Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07272683 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Gkl Building & Civil Engineering Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

James Andrew Brackenbury

Eamonn Michael Killoughery

REGISTERED OFFICE:

Gkl House Club Way

Hampton

Peterborough

Cambridgeshire

PE7 8JA

REGISTERED NUMBER:

07272683 (England and Wales)

ACCOUNTANTS:

Fortus Business Advisors & Accountants

Chartered Certified Accountants

Fairview

192 Park Road

Peterborough

Cambridgeshire

PE1 2UF

FIXED ASSETS

Tangible assets

5

756,182

503,127

CURRENT ASSETS

Stocks

954,849

-

Debtors

6

2,084,107

3,260,670

Cash at bank and in hand

213,784

266,703

3,252,740

3,527,373

CREDITORS

Amounts falling due within one year

7

2,115,394

2,281,327

NET CURRENT ASSETS

1,137,346

1,246,046

TOTAL ASSETS LESS CURRENT LIABILITIES

1,893,528

1,749,173

CREDITORS

Amounts falling due after more than one year

8

(98,933

)

(115,137

)

PROVISIONS FOR LIABILITIES

(107,862

)

(90,843

)

NET ASSETS

1,686,733

1,543,193

CAPITAL AND RESERVES

Called up share capital

140

140

Retained earnings

1,686,593

1,543,053

1,686,733

1,543,193

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2020 and were signed on its behalf by:

James Andrew Brackenbury - Director

1.	STATUTORY INFORMATION

GKL Building & Civil Engineering Ltd is a private limited company, limited by shares, registered in

England and Wales. The company's registered number and registered office address are as below:

Registered Number: 07272683

Registered office: GKL House, Club Way, Peterborough, Cambridgeshire, PE7 8JA

The presentation currency is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover and other income represents value of sales made, excluding value added tax and is

recognised when the company has transferred the significant risks and rewards of ownership to the

buyer and it is probable that the company will receive the previously agreed upon payment.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

15% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of

financial position. Those held under hire purchase contracts are depreciated over their estimated

useful lives. Those held under finance leases are depreciated over their estimated useful lives or the

lease term, whichever is the shorter.

The interest element of these obligations is charged to the income statement over the relevant

period. The capital element of the future payments is treated as a liability.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2019

625,368

243,326

14,175

882,869

Additions

481,766

-

5,792

487,558

Disposals

(164,500

)

-

-

(164,500

)

At 31 December 2019

942,634

243,326

19,967

1,205,927

DEPRECIATION

At 1 January 2019

252,703

120,535

6,504

379,742

Charge for year

87,544

24,558

4,262

116,364

Eliminated on disposal

(46,361

)

-

-

(46,361

)

At 31 December 2019

293,886

145,093

10,766

449,745

NET BOOK VALUE

At 31 December 2019

648,748

98,233

9,201

756,182

At 31 December 2018

372,665

122,791

7,671

503,127

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2019

330,195

199,327

13,500

543,022

Additions

119,200

-

-

119,200

Disposals

(95,000

)

-

-

(95,000

)

Reclassification/transfer

(98,570

)

(99,903

)

-

(198,473

)

At 31 December 2019

255,825

99,424

13,500

368,749

DEPRECIATION

At 1 January 2019

106,480

90,973

6,453

203,906

Charge for year

30,437

13,587

2,347

46,371

Eliminated on disposal

(43,320

)

-

-

(43,320

)

Reclassification/transfer

(42,666

)

(59,485

)

-

(102,151

)

At 31 December 2019

50,931

45,075

8,800

104,806

NET BOOK VALUE

At 31 December 2019

204,894

54,349

4,700

263,943

At 31 December 2018

223,715

108,354

7,047

339,116

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

351,784

612,629

Amounts owed by connected companies

1,085,800

1,952,567

Prepayments and accrued income

646,523

695,474

2,084,107

3,260,670

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Hire purchase contracts

130,824

118,440

Trade creditors

1,063,202

609,386

Amounts owed to connected companies

651,357

606,357

Taxation and social security

20,356

39,805

Other creditors

249,655

907,339

2,115,394

2,281,327

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Hire purchase contracts

98,933

115,137

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.19

31.12.18

£

£

Hire purchase contracts

229,757

233,577

There is an unlimited omnibus guarantee and set off agreement in respect of the liabilities now or

hereafter, owing or incurred form or by GKL Holding, GKL Building and Civil Engineering Limited, GKL

Northern Limited and College Street Properties Limited.

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance

sheet amounts to £129,966 (2018: £179,966).