GM Service Engineering Limited - Accounts to registrar (filleted) - small 23.1.2

GM Service Engineering Limited - Accounts to registrar (filleted) - small 23.1.2

GM SERVICE ENGINEERING LIMITED - Company Information

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REGISTERED NUMBER: 13637210 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023

FOR

GM SERVICE ENGINEERING LIMITED
Cassidys Chartered Accountants
South Stour Offices
Roman Road
Mersham
Ashford
Kent
TN25 7HS








GM SERVICE ENGINEERING LIMITED (REGISTERED NUMBER: 13637210)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GM SERVICE ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023







DIRECTORS: M G Bass
G A Woodcock





REGISTERED OFFICE: South Stour Offices Roman Road
Mersham
Ashford, Kent
United Kingdom
TN25 7HS





BUSINESS ADDRESS: Heartsay Garage
Headcorn Road
Biddenden
Kent
TN27 8JY





REGISTERED NUMBER: 13637210 (England and Wales)





ACCOUNTANTS: Cassidys Chartered Accountants
South Stour Offices
Roman Road
Mersham
Ashford
Kent
TN25 7HS
Page 1
GM SERVICE ENGINEERING LIMITED (REGISTERED NUMBER: 13637210)

BALANCE SHEET
31 MARCH 2023

31.3.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,232 70,636

CURRENT ASSETS
Stocks 60,505 35,516
Debtors 5 183,756 124,765
Cash at bank and in hand 90,058 76,230
334,319 236,511
CREDITORS
Amounts falling due within one year 6 323,422 262,668
NET CURRENT ASSETS/(LIABILITIES) 10,897 (26,157 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
96,129
44,479

PROVISIONS FOR LIABILITIES 16,194 13,421
NET ASSETS 79,935 31,058

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 79,835 30,958
79,935 31,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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 notes form part of these financial statements

Page 2 continued...
GM SERVICE ENGINEERING LIMITED (REGISTERED NUMBER: 13637210)

BALANCE SHEET - continued
31 MARCH 2023


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 26 July 2023 and were signed on its behalf by:




G A Woodcock - Director



M G Bass - Director


The notes form part of these financial statements

Page 3
GM SERVICE ENGINEERING LIMITED (REGISTERED NUMBER: 13637210)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023


1. STATUTORY INFORMATION

GM Service Engineering 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

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 period 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 period 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Page 4 continued...
GM SERVICE ENGINEERING LIMITED (REGISTERED NUMBER: 13637210)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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 period was 14 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 94,182
Additions 26,772
At 31 March 2023 120,954
DEPRECIATION
At 1 October 2022 23,546
Charge for period 12,176
At 31 March 2023 35,722
NET BOOK VALUE
At 31 March 2023 85,232
At 30 September 2022 70,636

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 30.9.22
£    £   
Trade debtors 162,837 116,118
Other debtors 20,919 8,647
183,756 124,765

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 30.9.22
£    £   
Payments on account 3,505 -
Trade creditors 62,945 107,357
Taxation and social security 68,237 38,624
Other creditors 188,735 116,687
323,422 262,668

Page 5 continued...
GM SERVICE ENGINEERING LIMITED (REGISTERED NUMBER: 13637210)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023


7. RELATED PARTY DISCLOSURES

During the period, total dividends of £58,000 (2022 - £15,000) were paid to the directors .

Mr G Woodcock- Director and Shareholder

At the balance sheet date GM Service Engineering Limited owed Mr Woodcock £56,041 (2022: £36,563).

Mr M Bass - Director and Shareholder

At the balance sheet date GM Service Engineering Limited owed Mr Bass £65,384 (2022: £45,905).

Page 6