Gap Container Services Limited - Limited company accounts 18.2
Gap Container Services Limited - Limited company accounts 18.2
| REGISTERED NUMBER: |
| GAP CONTAINER SERVICES LIMITED |
| REPORT OF THE DIRECTORS AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
| GAP CONTAINER SERVICES LIMITED (REGISTERED NUMBER: 04672111) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
| Page |
| Company information | 1 |
| Report of the directors | 2 |
| Income statement | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 6 |
| GAP CONTAINER SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants |
| Suite 11 Stanley Grange |
| Ormskirk Road |
| Knowsley Village |
| Merseyside |
| L34 4AR |
| GAP CONTAINER SERVICES LIMITED (REGISTERED NUMBER: 04672111) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
| The directors present their report with the financial statements of the company for the year ended 28th February 2018. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of the sale and hire of containers and cabins. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1st March 2017 to the date of this |
| report. |
| 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: |
| GAP CONTAINER SERVICES LIMITED (REGISTERED NUMBER: 04672111) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Distribution costs |
| Administrative expenses |
| 1,130,000 | 1,095,131 |
| 104,115 | 149,152 |
| Other operating income |
| OPERATING PROFIT | 4 |
| Interest receivable and similar income |
| 112,104 | 157,397 |
| Interest payable and similar expenses |
| PROFIT BEFORE TAXATION |
| Tax on profit | ( |
) |
| PROFIT FOR THE FINANCIAL YEAR |
| GAP CONTAINER SERVICES LIMITED (REGISTERED NUMBER: 04672111) |
| BALANCE SHEET |
| 28TH FEBRUARY 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| GAP CONTAINER SERVICES LIMITED (REGISTERED NUMBER: 04672111) |
| BALANCE SHEET - continued |
| 28TH FEBRUARY 2018 |
| The financial statements were approved by the Board of Directors on by: |
| GAP CONTAINER SERVICES LIMITED (REGISTERED NUMBER: 04672111) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
| 1. | STATUTORY INFORMATION |
| Gap Container Services Limited is a |
| 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 |
| TURNOVER |
| Turnover represents net invoiced sales of goods and services during the year exclusive of Value Added Tax. |
| Turnover includes the sale and hire of containers and cabins. In respect of periods of hire, turnover includes the |
| amount of rent receivable from customers during the accounting year on an accruals basis. |
| TANGIBLE FIXED ASSETS |
| Hire fleet | - |
| Plant and machinery | - |
| Fixtures & fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| INVESTMENTS IN ASSOCIATES |
| Investments in associate undertakings are recognised at cost. |
| STOCKS |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. Cost is calculated by reference to historical cost. Net realisable value is calculated with reference |
| to estimated selling prices at the accounting year end. |
| HIRE PURCHASE AND LEASING COMMITMENTS |
| Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair |
| value. The capital element of the future payments is treated as a liability and the interest is charged to the profit |
| and loss account on a straight line basis. |
| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with |
| the lessor are charged against profits 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 |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2018 | 2017 |
| £ | £ |
| Depreciation - owned assets |
| GAP CONTAINER SERVICES LIMITED (REGISTERED NUMBER: 04672111) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st March 2017 |
| Additions |
| Disposals | ( |
) |
| At 28th February 2018 |
| DEPRECIATION |
| At 1st March 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 28th February 2018 |
| NET BOOK VALUE |
| At 28th February 2018 |
| At 28th February 2017 |
| 6. | FIXED ASSET INVESTMENTS |
| Interest |
| in | Other |
| associate | investments | Totals |
| £ | £ | £ |
| COST |
| At 1st March 2017 | 60,000 |
| Additions | 40,000 |
| At 28th February 2018 | 100,000 |
| NET BOOK VALUE |
| At 28th February 2018 | 100,000 |
| At 28th February 2017 | 60,000 |
| 7. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Stocks |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 38,748 | 40,437 |
| Prepayments |
| GAP CONTAINER SERVICES LIMITED (REGISTERED NUMBER: 04672111) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28TH FEBRUARY 2018 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other loans |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 48,250 | 56,690 |
| Other creditors |
| Directors' current accounts | 200 | - |
| Accrued expenses |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other loans after one year | 90,000 | 130,000 |
| Hire purchase contracts |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 28th February 2018 and |
| 28th February 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mr G P Eglinton. |