Company Registration No. 13591570 (England and Wales)
Gigawatt Electrical Services Ltd
Unaudited accounts
for the period from 30 August 2021 to 31 August 2022
Gigawatt Electrical Services Ltd
Unaudited accounts
Contents
Gigawatt Electrical Services Ltd
Company Information
for the period from 30 August 2021 to 31 August 2022
Directors
Mr R Towill
Mr J Harding
Company Number
13591570 (England and Wales)
Registered Office
16 Lupin Close
Emersons Green
Bristol
BS16 7GN
Accountants
Bergsmith Accountancy Services Ltd
31 King Harold's View
Portskewett
Caldicot
NP26 5RS
Gigawatt Electrical Services Ltd
Statement of financial position
as at
31 August 2022
Cash at bank and in hand
29,339
Creditors: amounts falling due within one year
(44,551)
Net current assets
33,119
Total assets less current liabilities
39,730
Provisions for liabilities
Called up share capital
100
Profit and loss account
39,405
Shareholders' funds
39,505
For the period ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2022 and were signed on its behalf by
Mr R Towill
Director
Company Registration No. 13591570
Gigawatt Electrical Services Ltd
Notes to the Accounts
for the period from 30 August 2021 to 31 August 2022
Gigawatt Electrical Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 13591570. The registered office is 16 Lupin Close, Emersons Green, Bristol, BS16 7GN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the period from 30 August 2021 to 31 August 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 30 August 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill is amortised over 10 years
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Gigawatt Electrical Services Ltd
Notes to the Accounts
for the period from 30 August 2021 to 31 August 2022
4
Intangible fixed assets
Goodwill
Charge for the period
500
5
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
Charge for the period
703
Amounts falling due within one year
Accrued income and prepayments
720
7
Creditors: amounts falling due within one year
2022
Taxes and social security
11,942
Loans from directors
14,348
Gigawatt Electrical Services Ltd
Notes to the Accounts
for the period from 30 August 2021 to 31 August 2022
8
Operating lease commitments
2022
At 31 August 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
7,188
Later than one year and not later than five years
48,811
9
Average number of employees
During the period the average number of employees was 1.