Gad New Build Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11195521 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

FOR

GAD NEW BUILD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Ruyssevelt

A P Ruyssevelt

SECRETARY:

Mrs G Ruyssevelt

REGISTERED OFFICE:

47 Charingworth Drive

Hatton Park

Warwick

Warwickshire

CV35 7SY

REGISTERED NUMBER:

11195521 (England and Wales)

ACCOUNTANTS:

Bernard Rogers & Co

Bank Gallery

High Street

Kenilworth

Warwickshire

CV8 1LY

FIXED ASSETS

Tangible assets

4

22,604

29,728

CURRENT ASSETS

Debtors

5

85,182

13,381

Cash at bank and in hand

32,047

53,612

117,229

66,993

CREDITORS

Amounts falling due within one year

6

42,758

15,840

NET CURRENT ASSETS

74,471

51,153

TOTAL ASSETS LESS CURRENT LIABILITIES

97,075

80,881

CREDITORS

Amounts falling due after more than one year

7

(36,157

)

(52,706

)

PROVISIONS FOR LIABILITIES

(2,817

)

(3,304

)

NET ASSETS

58,101

24,871

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

57,981

24,751

SHAREHOLDERS' FUNDS

58,101

24,871

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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 4 May 2022 and were signed on its behalf by:

A P Ruyssevelt - Director

1.	STATUTORY INFORMATION

Gad New Build 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

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.

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2021

3,424

41,942

1,972

47,338

Additions

-

-

1,331

1,331

At 31 January 2022

3,424

41,942

3,303

48,669

DEPRECIATION

At 1 February 2021

2,063

14,850

696

17,609

Charge for year

857

6,773

826

8,456

At 31 January 2022

2,920

21,623

1,522

26,065

NET BOOK VALUE

At 31 January 2022

504

20,319

1,781

22,604

At 31 January 2021

1,361

27,092

1,276

29,729

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

Motor

vehicles

£

COST

At 1 February 2021

and 31 January 2022

28,642

DEPRECIATION

At 1 February 2021

7,161

Charge for year

5,370

At 31 January 2022

12,531

NET BOOK VALUE

At 31 January 2022

16,111

At 31 January 2021

21,481

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

14,913

11,674

Amounts owed by participating interests

-

1,265

Other debtors

70,269

442

85,182

13,381

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

9,667

5,833

Hire purchase contracts

6,404

6,404

Taxation and social security

25,844

2,303

Other creditors

843

1,300

42,758

15,840

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

34,022

44,167

Hire purchase contracts

2,135

8,539

36,157

52,706

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

4,167

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Hire purchase contracts

8,539

14,943

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2022 and 31 January 2021:

2022

2021

£

£

A P Ruyssevelt

Balance outstanding at start of year

-

1,513

Amounts advanced

70,269

-

Amounts repaid

-

(1,513

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

70,269

-

The loans have been fully repaid since the year end.

In addition during the year the company performed work for a joint venture that A P Ruyssevelt (director) is connected with, the amount charged was £79,771 and at 31 January 2022 £14,913 was owed to the company for this work.

10.	RELATED PARTY DISCLOSURES

At 31 January 2021 other creditors include loans made to the company by A P Ruyssevelt (director) amounting to £nil (2021 £387). The loans are interest free with no fixed date for repayment.

11.	CONTROLLING PARTY

The controlling party is the directors.