Company Registration No. 07067590 (England and Wales)
GENTWELL SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
PAGES FOR FILING WITH REGISTRAR
GENTWELL SERVICES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GENTWELL SERVICES LTD (REGISTERED NUMBER: 07067590)
BALANCE SHEET
AS AT 30 NOVEMBER 2020
30 November 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,264
6,383
Current assets
Debtors
4
102,447
74,510
Cash at bank and in hand
55,510
42,614
157,957
117,124
Creditors: amounts falling due within one year
5
(88,731)
(96,329)
Net current assets
69,226
20,795
Total assets less current liabilities
78,490
27,178
Provisions for liabilities
(1,760)
-
Net assets
76,730
27,178
Capital and reserves
Called up share capital
5
5
Profit and loss reserves
76,725
27,173
Total equity
76,730
27,178
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
GENTWELL SERVICES LTD (REGISTERED NUMBER: 07067590)
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2020
30 November 2020
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 10 March 2021
Mr S Thomas
Director
GENTWELL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 3 -
1
Accounting policies
Company information
Gentwell Services Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
106 Greenvale Road, Eltham, SE9 1PF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £
1
.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% straight line
Computers
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
GENTWELL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2020
1
Accounting policies
(Continued)
- 4 -
1.7
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
41
39
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 December 2019
11,513
11,070
22,583
Additions
3,373
5,079
8,452
Disposals
(4,976)
(4,009)
(8,985)
At 30 November 2020
9,910
12,140
22,050
Depreciation and impairment
At 1 December 2019
7,870
8,330
16,200
Depreciation charged in the year
2,113
3,458
5,571
Eliminated in respect of disposals
(4,976)
(4,009)
(8,985)
At 30 November 2020
5,007
7,779
12,786
Carrying amount
At 30 November 2020
4,903
4,361
9,264
At 30 November 2019
3,643
2,740
6,383
GENTWELL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 5 -
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
94,996
74,510
Other debtors
7,451
-
102,447
74,510
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
16,940
13,780
Taxation and social security
69,170
80,432
Other creditors
2,621
2,117
88,731
96,329