Gatwick Construction Limited - Accounts to registrar (filleted) - small 23.2.5
Gatwick Construction Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 January 2024 |
| for |
| Gatwick Construction Limited |
| Gatwick Construction Limited (Registered number: 05327079) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2024 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Gatwick Construction Limited (Registered number: 05327079) |
| Balance Sheet |
| 31 January 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 9 |
| Capital redemption reserve |
| Retained earnings |
| Shareholders' funds |
| 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. |
| Gatwick Construction Limited (Registered number: 05327079) |
| Balance Sheet - continued |
| 31 January 2024 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Gatwick Construction Limited (Registered number: 05327079) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2024 |
| 1. | Statutory information |
| Gatwick Construction Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
| Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. |
| Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. |
| When it is probable that total contract costs will exceed total contract revenue, the expected loss is expensed immediately, with a corresponding provision for an onerous contract being recognised. |
| Where the collectability of an amount already recognised as contract revenue is no longer probable, the uncollectible amount is expensed rather than recognised as an adjustment to the amount of contract revenue. |
| Gatwick Construction Limited (Registered number: 05327079) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2024 |
| 2. | Accounting policies - continued |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. |
| 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 |
| Gatwick Construction Limited (Registered number: 05327079) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2024 |
| 4. | Tangible fixed assets |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 February 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 January 2024 |
| Depreciation |
| At 1 February 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 January 2024 |
| Net book value |
| At 31 January 2024 |
| At 31 January 2023 |
| 5. | Debtors |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| Gatwick Construction Limited (Registered number: 05327079) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2024 |
| 6. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loan more 5 yr | - | 24,370 |
| 8. | Secured debts |
| Within creditors are debts of £70,414 secured on an item of plant (2023:£nil). |
| 9. | Called up share capital |
| Number Class Nominal |
| Value 2023 2022 |
| £ £ |
| 43 Ordinary B £1 43 65 |
| 43 Ordinary C £1 43 20 |
| 21 Ordinary D £1 21 - |
| ------ ----- |
| 107 85 |
| === === |
| 10. | Directors' advances, credits and guarantees |
| During the year advances and credits of £19,800 (2023:£18,480) were made to the directors with repayments of £40,593 (2023:£nil) resulting in a balance of £nil (2023:£20,793) owed to the company.These loans were made interest free and with no agreed repayment terms. |