Gillingham Engineering Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07623857 (England and Wales)

GILLINGHAM ENGINEERING COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V W Nicholls

Mrs I F Shaw

SECRETARY:

L E LaMoury

REGISTERED OFFICE:

Hilden Park House

79 Tonbridge Road

Hildenborough

Kent

TN11 9BH

REGISTERED NUMBER:

07623857 (England and Wales)

ACCOUNTANTS:

Hilden Park Accountants Limited

Hilden Park House

79 Tonbridge Road

Hildenborough

Tonbridge

Kent

TN11 9BH

FIXED ASSETS

Tangible assets

4

505,500

505,500

Investments

5

-

17,550

505,500

523,050

CURRENT ASSETS

Debtors

24,273

192,697

Cash at bank

83,102

4,865

107,375

197,562

CREDITORS

Amounts falling due within one year

101,887

244,782

NET CURRENT ASSETS/(LIABILITIES)

5,488

(47,220

)

TOTAL ASSETS LESS CURRENT LIABILITIES

510,988

475,830

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

460,988

425,830

SHAREHOLDERS' FUNDS

510,988

475,830

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

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 March 2021 and were signed on its behalf by:

V W Nicholls - Director

1.	STATUTORY INFORMATION

Gillingham Engineering Company 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 majority of the company turnover is derived from management charges and rental receipts.

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

-

10% on cost

Motor vehicles

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 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.

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 2 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

586,587

Disposals

(81,087

)

At 31 December 2020

505,500

DEPRECIATION

At 1 January 2020

81,087

Eliminated on disposal

(81,087

)

At 31 December 2020

-

NET BOOK VALUE

At 31 December 2020

505,500

At 31 December 2019

505,500

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2020

17,550

Disposals

(17,550

)

At 31 December 2020

-

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

17,550

With effect from the close of business on 30 June 2020, the Company's interests in its subsidiaries (Kestner Chemical Pumps Limited and Lennox Castings Limited) together with its interest in the associated business (Metallic Wool Company Limited) were disposed of in their entirety.