|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements |
|
for the Year Ended 31 December 2018 |
|
for |
|
GDC Engineering Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements |
|
for the Year Ended 31 December 2018 |
|
for |
|
GDC Engineering Limited |
GDC Engineering Limited (Registered number: 03444544) |
|
Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
GDC Engineering Limited |
|
Company Information |
for the Year Ended 31 December 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
SECRETARY: |
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
SENIOR STATUTORY AUDITOR: |
|
|
|
AUDITORS: |
|
4 Cedar Park |
Cobham Road |
Ferndown Industrial Estate |
Wimborne |
Dorset |
BH21 7SF |
|
|
ACCOUNTANTS: |
|
Unit 5 Old Grantham Road |
Whatton |
Nottingham |
NG13 9FX |
GDC Engineering Limited (Registered number: 03444544) |
|
Balance Sheet |
31 December 2018 |
|
31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
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 on
by: |
|
|
|
|
|
|
|
GDC Engineering Limited (Registered number: 03444544) |
|
Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
|
|
1. | STATUTORY INFORMATION |
|
GDC Engineering Limited is a
|
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. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
The accounts have been prepared on a going concern basis as the directors have been given assurance that |
the support of the parent company will continue for the foreseeable future. |
|
Turnover |
Turnover represents the value of amounts received or receivable for services rendered, excluding value added |
tax. |
|
Tangible fixed assets |
|
Plant and machinery etc | - |
|
|
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation |
and subsequent 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. |
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
|
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. |
GDC Engineering Limited (Registered number: 03444544) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
|
|
3. | 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. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2018 |
|
Additions |
|
Disposals | ( |
) |
At 31 December 2018 |
|
DEPRECIATION |
At 1 January 2018 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 31 December 2018 |
|
NET BOOK VALUE |
At 31 December 2018 |
|
At 31 December 2017 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
GDC Engineering Limited (Registered number: 03444544) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
|
|
8. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.18 | 31.12.17 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
Emphasis of Matter |
|
Due to a breakdown of internal systems and controls, a material debtor has arisen amounting to £83,206. |
|
In the subsequent financial period, additional debtors relating to the same breakdown of systems and controls of |
£179,085 were identified and £42,291 provided for as bad debt. |
|
No further debt is expected to arise in relation to this due to the changes made in the management and control of |
the entity. |
|
Ian Rodd BSc FCA FCCA (Senior Statutory Auditor) |
for and on behalf of Ward Goodman |
|
10. | POST BALANCE SHEET EVENTS |
|
In the subsequent financial period, additional debtors relating to the breakdown of systems and controls of |
£179,085 were identified and £42,291 provided for as bad debt. |
|
11. | PARENT COMPANY |
|
The parent undertaking of the smallest group which includes GDC Engineering Limited within its consolidated |
accounts is GDC Engineering GmbH, a company incorporated in Germany whose registered address is: |
|
Design Offices |
Highlight Towers |
Mies-van-der-Rohe-Str 8 |
Tower 1 |
80807 München |
Germany |
|
The company's ultimate parent company is GDC Technics LLC incorporated in the USA. |