G. A. Engineering (South East) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08011661 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

G. A. Engineering (South East) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr V Dabral

Mrs M Dabral

REGISTERED OFFICE:

95 Rowlands Avenue

Pinner

HA5 4AW

REGISTERED NUMBER:

08011661 (England and Wales)

ACCOUNTANTS:

Aequitas

Chartered Accountants

Elthorne Gate

64 High Street

Pinner

HA5 5QA

FIXED ASSETS

Intangible assets

4

900,000

975,000

Tangible assets

5

132,452

85,099

1,032,452

1,060,099

CURRENT ASSETS

Stocks

5,298

5,000

Debtors

6

70,314

143,500

Cash at bank

93,411

131,206

169,023

279,706

CREDITORS

Amounts falling due within one year

7

112,150

176,374

NET CURRENT ASSETS

56,873

103,332

TOTAL ASSETS LESS CURRENT LIABILITIES

1,089,325

1,163,431

CREDITORS

Amounts falling due after more than one year

8

(38,827

)

(56,747

)

PROVISIONS FOR LIABILITIES

(26,118

)

(16,565

)

NET ASSETS

1,024,380

1,090,119

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,024,280

1,090,019

1,024,380

1,090,119

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2020 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 19 October 2020 and were signed on its behalf by:

Mr V Dabral - Director

1.	STATUTORY INFORMATION

G. A. Engineering (South East) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill arsing on acquisition of an entity represents the excess of the cost of acquisition over the

Company's interest in the net fair value of identified assets, liabilities and contingent liabilities of the

entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and and is

subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Goodwill is amortised over 20 years.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Government grants

Government grants are accounted as grants relating to revenue or grants relating to assets on accruals

basis. Grants relating to revenue is recognised in income on a systematic basis over the periods in which

the entity recognises the related costs for which the grant is intended to compensate. Grants relating to

assets is recongnised in income on systematic basis over the expected useful life of the asset.

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 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.

Hire purchase and 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 9 (2019 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

1,500,000

AMORTISATION

At 1 April 2019

525,000

Amortisation for year

75,000

At 31 March 2020

600,000

NET BOOK VALUE

At 31 March 2020

900,000

At 31 March 2019

975,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2019

170,392

3,000

173,392

Additions

22,487

69,017

91,504

At 31 March 2020

192,879

72,017

264,896

DEPRECIATION

At 1 April 2019

85,693

2,600

88,293

Charge for year

26,797

17,354

44,151

At 31 March 2020

112,490

19,954

132,444

NET BOOK VALUE

At 31 March 2020

80,389

52,063

132,452

At 31 March 2019

84,699

400

85,099

Included within the net book value of £132,452 is £47,250 relating to assets held under hire purchase

agreements. The depreciation charged to the financial statements in the year in respect of such assets

amounted to £15,750.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

66,860

135,918

Other debtors

3,454

7,582

70,314

143,500

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts (see note 9)

17,920

17,920

Trade creditors

14,180

19,901

Amounts owed to group undertakings

35,695

35,695

Taxation and social security

21,411

83,268

Other creditors

22,944

19,590

112,150

176,374

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts (see note 9)

38,827

56,747

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.20

31.3.19

£

£

Net obligations repayable:

Within one year

17,920

17,920

Between one and five years

38,827

56,747

56,747

74,667

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Hire purchase contracts

56,747

74,667

The liability disclosed is secured by the lessor over the asset held under hire purchase lease commitments.

11.	ULTIMATE CONTROLLING PARENT

Vamay Limited is the ultimate parent company by virtue of its shareholding.