Company Registration No. 07067590 (England and Wales)
GENTWELL SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
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 2022
30 November 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,520
14,175
Current assets
Debtors
4
117,624
134,047
Cash at bank and in hand
184,797
98,408
302,421
232,455
Creditors: amounts falling due within one year
5
(91,663)
(105,659)
Net current assets
210,758
126,796
Total assets less current liabilities
219,278
140,971
Provisions for liabilities
(2,130)
(2,693)
Net assets
217,148
138,278
Capital and reserves
Called up share capital
5
5
Profit and loss reserves
217,143
138,273
Total equity
217,148
138,278
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 2022 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.
The 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 2022
30 November 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 11 April 2023
Mr S Thomas
Director
GENTWELL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 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, London, England, 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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. 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 2022
1
Accounting policies
(Continued)
- 4 -
1.7
Government grants
Government grants are recognised at the fair value of the asset received 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:
2022
2021
Number
Number
Total
41
40
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 December 2021
11,867
19,632
31,499
Additions
1,551
1,551
Disposals
(3,191)
(3,191)
At 30 November 2022
11,867
17,992
29,859
Depreciation and impairment
At 1 December 2021
7,227
10,097
17,324
Depreciation charged in the year
2,437
4,769
7,206
Eliminated in respect of disposals
(3,191)
(3,191)
At 30 November 2022
9,664
11,675
21,339
Carrying amount
At 30 November 2022
2,203
6,317
8,520
At 30 November 2021
4,640
9,535
14,175
GENTWELL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 5 -
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
102,963
122,301
Other debtors
14,661
11,746
117,624
134,047
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
17,748
15,163
Taxation and social security
68,772
88,148
Other creditors
5,143
2,348
91,663
105,659
6
Director's transactions
As at the balance sheet date, there was an overdrawn directors' loan account balance of £1,189 (2021 - £1,079), this balance is included within other debtors.