Halesowen Gas Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05418020 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Halesowen Gas Services Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

-

1,971

Tangible assets

5

28,762

12,630

28,762

14,601

CURRENT ASSETS

Stocks

7,500

7,500

Debtors

6

305,937

210,507

Cash at bank

100,308

43,041

413,745

261,048

CREDITORS

Amounts falling due within one year

7

205,277

195,397

NET CURRENT ASSETS

208,468

65,651

TOTAL ASSETS LESS CURRENT LIABILITIES

237,230

80,252

PROVISIONS FOR LIABILITIES

7,064

2,774

NET ASSETS

230,166

77,478

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

230,164

77,476

SHAREHOLDERS' FUNDS

230,166

77,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 January 2024 and were signed by:

Mr C J Wheawall - Director

1.	STATUTORY INFORMATION

Halesowen Gas Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05418020

Registered office:

Ebenezer House

Ryecroft

Newcastle-Under-Lyme

Staffordshire

ST5 2BE

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 represents net invoiced sales of goods and services, excluding value added tax. Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

Goodwill

Goodwill has been fully amortised over its estimated useful life.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 Profit and Loss Account, 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 11 (2022 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 July 2022

and 30 June 2023

70,000

8,870

78,870

AMORTISATION

At 1 July 2022

70,000

6,899

76,899

Amortisation for year

-

1,971

1,971

At 30 June 2023

70,000

8,870

78,870

NET BOOK VALUE

At 30 June 2023

-

-

-

At 30 June 2022

-

1,971

1,971

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 July 2022

13,408

61,244

74,652

Additions

2,507

19,995

22,502

Disposals

-

(13,290

)

(13,290

)

At 30 June 2023

15,915

67,949

83,864

DEPRECIATION

At 1 July 2022

13,370

48,652

62,022

Charge for year

441

3,499

3,940

Eliminated on disposal

-

(10,860

)

(10,860

)

At 30 June 2023

13,811

41,291

55,102

NET BOOK VALUE

At 30 June 2023

2,104

26,658

28,762

At 30 June 2022

38

12,592

12,630

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

32,616

36,326

Amounts owed by group undertakings

269,337

171,091

Other debtors

3,984

3,090

305,937

210,507

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

82,351

83,601

Amounts owed to group undertakings

56,065

56,065

Taxation and social security

34,156

24,019

Other creditors

32,705

31,712

205,277

195,397

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Norvent Group Limited.

The registered office address of this company is 76/77 Reddal Hill Road, Cradley Heath, West Midlands, B64 5JT.