G T P Developments Ltd - Limited company accounts 20.1

REGISTERED NUMBER: SC282132 (Scotland)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2021

for

G T P Developments Ltd

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

T H Bell

Mrs M A Hally

M J Picton

SECRETARY:

Mrs M A Hally

REGISTERED OFFICE:

191 Station Road

Shotts

Lanarkshire

ML7 4BA

REGISTERED NUMBER:

SC282132 (Scotland)

ACCOUNTANTS:

Williams & Company

191 Station Road

Shotts

North Lanarkshire

ML7 4BA

The directors present their report with the financial statements of the company for the year ended 30 June 2021.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of plumbing and heating engineers.

DIRECTORS

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

T H Bell

Mrs M A Hally

M J Picton

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:

T H Bell - Director

30 March 2022

TURNOVER

-

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

-

FIXED ASSETS

Intangible assets

4

62,436

CURRENT ASSETS

Debtors

5

632

Cash at bank

153

785

CREDITORS

Amounts falling due within one year

6

212,592

NET CURRENT LIABILITIES

(211,807

)

(211,807

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(149,371

)

(149,371

)

CAPITAL AND RESERVES

Called up share capital

200

Retained earnings

(149,571

)

(149,571

)

(149,371

)

(149,371

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2022 and were signed on its behalf by:

T H Bell - Director

1.	STATUTORY INFORMATION

G T P Developments Ltd is a private company, limited by shares , registered in Scotland. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2020

and 30 June 2021

62,436

NET BOOK VALUE

At 30 June 2021

62,436

At 30 June 2020

62,436

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

Trade debtors

632

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

Trade creditors

212,592