G & D Higgins Mechanical Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02530834 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2021

FOR

G & D HIGGINS MECHANICAL SERVICES LTD

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

Report of the Accountants

8

DIRECTORS:

D Higgins

Mrs L R Higgins

SECRETARY:

D Higgins

REGISTERED OFFICE:

Wimborne House

6 Pump Lane

Hayes

Middlesex

UB3 3NB

REGISTERED NUMBER:

02530834 (England and Wales)

ACCOUNTANTS:

MG Group

Chartered Accountants &

Registered Auditors

166 College Road

Harrow

Middlesex

HA1 1BH

The directors present their report with the financial statements of the company for the year ended 31st October 2021.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Mechanical Engineers

REVIEW OF BUSINESS

G & D Higgins Mechanical Services Limited draws on over 42 years of M+E experience to deliver the highest levels of quality, safety, and technical expertise to our clients.

Despite the impact of COVID-19 on the UK, 2020/2021 proved to be a strong trading year for G & D Higgins Mechanical Services Limited.

Our client base remained strong by the continuation of Framework Agreements for The London Borough of Harrow's Corporate Stock and the continuation for a further three years of a maintenance contract for a major care home in the London Borough of Harrow. Other Frameworks during this period were for the London Borough of Camden. We also, continued to undertake multiple successful projects for new Public and Private Sector clients including The Ministry of Justice.

G & D Higgins Mechanical Services Limited continues to be an active Accredited Partner to British Gas PLC, continuing to pass all their stringent quality and technical ability requirements.

During these difficult times G & D Higgins continues to believe in employer stakeholder engagement and has an active employee training programme for both continued professional and personal staff development. This runs alongside our Apprenticeship programme of one Apprentice per million of turnover. In 2019/2020 we employed a further two Apprentices.

To improve the efficiency of our responsive maintenance contracts we also continue to invest during this period in the purchase of new software, additional materials, plant, tools and equipment for increased efficiency in our service delivery and to supply an immediate and responsive call off from stores.

We continued to strive during this period to reduce the Companies' carbon footprint and energy consumption. Alongside our continued efforts to enhance energy efficiency we continued to replace our fleet with electric vehicles.

The property portfolio owned by G & D Higgins Mechanical Services Limited continued to be strengthened during the year by a programme of upgrading and redecoration.

G & D Higgin's Self-Administered Pension Fund remained during the period at a value of more than 2 Million Pounds and is available to fund major projects.

G & D Higgins continued during 2020/2021 to be a philanthropic business by making charitable donations, the sponsorship of local events, the continuation of an active Apprenticeship and youth experience programme and the encouragement of our staff to take an active interest in the community.

We are well positioned to continue to deliver performance, financial sustainability, added value, growth and to continue to contribute to the community.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st November 2020 to the date of this report.

D Higgins

Mrs L R Higgins

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

D Higgins - Director

1st June 2022

FIXED ASSETS

Tangible assets

4

488,387

527,854

CURRENT ASSETS

Stocks

80,000

80,000

Debtors

5

2,255,881

2,909,268

Cash at bank and in hand

91,050

199,476

2,426,931

3,188,744

CREDITORS

Amounts falling due within one year

6

1,158,168

1,953,624

NET CURRENT ASSETS

1,268,763

1,235,120

TOTAL ASSETS LESS CURRENT LIABILITIES

1,757,150

1,762,974

CREDITORS

Amounts falling due after more than one year

7

(11,864

)

(19,968

)

PROVISIONS FOR LIABILITIES

(64,030

)

(64,030

)

NET ASSETS

1,681,256

1,678,976

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

8

263,412

263,412

Retained earnings

1,417,744

1,415,464

1,681,256

1,678,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2021 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 by the Board of Directors and authorised for issue on 1st June 2022 and were signed on its behalf by:

D Higgins - Director

1.	STATUTORY INFORMATION

G & D Higgins Mechanical Services Ltd 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

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost, 25% on cost, 20% on cost and 10% on cost

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 25 (2020 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st November 2020

467,111

252,391

719,502

Disposals

-

(8,000

)

(8,000

)

At 31st October 2021

467,111

244,391

711,502

DEPRECIATION

At 1st November 2020

28,434

163,214

191,648

Charge for year

4,842

29,825

34,667

Eliminated on disposal

-

(3,200

)

(3,200

)

At 31st October 2021

33,276

189,839

223,115

NET BOOK VALUE

At 31st October 2021

433,835

54,552

488,387

At 31st October 2020

438,677

89,177

527,854

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

Plant and

machinery

etc

£

COST

At 1st November 2020

78,527

Reclassification/transfer

(13,950

)

At 31st October 2021

64,577

DEPRECIATION

At 1st November 2020

40,529

Charge for year

15,705

Reclassification/transfer

(13,950

)

At 31st October 2021

42,284

NET BOOK VALUE

At 31st October 2021

22,293

At 31st October 2020

37,998

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Trade debtors

818,973

1,402,665

Amounts owed by associates

-

21,672

Amounts recoverable on contract

1,425,124

1,474,772

Other debtors

11,784

10,159

2,255,881

2,909,268

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Hire purchase contracts

6,581

14,597

Trade creditors

719,695

1,232,571

Amounts owed to associates

39,494

-

Taxation and social security

311,848

491,188

Other creditors

80,550

215,268

1,158,168

1,953,624

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.21

31.10.20

£

£

Hire purchase contracts

11,864

19,968

8.

RESERVES

Revaluation

reserve

£

At 1st November 2020

and 31st October 2021

263,412

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st October 2021 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

MG Group

Chartered Accountants &

Registered Auditors

166 College Road

Harrow

Middlesex

HA1 1BH

1st June 2022