Guild of Project Controls Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09051064 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

GUILD OF PROJECT CONTROLS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Williams

Mrs J Williams

Mr T D`Orgee

SECRETARY:

Mrs J Williams

REGISTERED OFFICE:

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

REGISTERED NUMBER:

09051064 (England and Wales)

ACCOUNTANTS:

Gibson Booth Limited

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

BANKERS:

National Westminister Bank Plc

PO Box 4115

Hornchurch

Essex

RM12 4DF

CREDITORS

Amounts falling due within one year

4

3,350

NET CURRENT LIABILITIES

(3,350

)

(3,350

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,350

)

(3,350

)

CAPITAL AND RESERVES

Called up share capital

5

100

Retained earnings

(3,450

)

(3,450

)

SHAREHOLDERS' FUNDS

(3,350

)

(3,350

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 28 May 2021 and were signed on its behalf by:

Mr J Williams - Director

1.	STATUTORY INFORMATION

Guild of Project Controls 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates

No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

When the outcome of a transaction can be estimated reliably, turnover from membership fees is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the period of the membership that has elapsed at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

Bank loans and overdrafts

11

Corporation tax

-

938

Other creditors

938

-

Accruals and deferred income

2,401

3,350

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.20

31.5.19

value:

£

100

Ordinary

£1

100

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2020 and 31 May 2019:

31.5.20

31.5.19

£

Mr J Williams and Mrs J Williams

Balance outstanding at start of year

-

1,125

Amounts repaid

-

(1,125

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

7.	RELATED PARTY DISCLOSURES

During the year, consultancy fees of £NIL (2019: £1,000) were paid to Theo D`Orgee, a director of the company.

Guild of Project Controls Limited - Accounts to registrar (filleted) - small 18.2

Guild of Project Controls Limited - Accounts to registrar (filleted) - small 18.2