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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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Gatehouse Building Services Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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Gatehouse Building Services Limited |
Gatehouse Building Services Limited (Registered number: SC420252) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Gatehouse Building Services Limited |
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Company Information |
for the Year Ended 31 March 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Accountants |
Titanium 1 |
King's Inch Place |
Renfrew |
PA4 8WF |
Gatehouse Building Services Limited (Registered number: SC420252) |
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Balance Sheet |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Gatehouse Building Services Limited (Registered number: SC420252) |
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Balance Sheet - continued |
31 March 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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Gatehouse Building Services Limited (Registered number: SC420252) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Gatehouse Building Services Limited is a private company, limited by shares, registered in Scotland. |
The company's registered number and registered office can be found on the Company Information |
Page. |
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The presentation currency of the financial statements is in the pound sterling (£). |
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Monetary amounts in these financial statements are rounded to the nearest £. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company has transitioned to FRS 102 from previously exant UK GAAP as at 1 April 2015. The |
reported financial position and financial performance for the previous period are not affected by the |
transition to FRS 102. |
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Turnover |
Turnover represents the value of the work executed during the year ascertained by reference to |
contract measurement, exclusive of VAT. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Profit is taken on long term contracts when their outcome has been foreseen with reasonable certainty. |
In determining the amount of profit taken at the year end, the main facts considered are the experience |
of similar contracts and tea estimated stage of completion. Anticipated losses are provided in full. |
Amounts recoverable on contracts are included in debtors; these amounts represent cost plus |
attributable profit, less foreseeable losses and total progress payments received and receivable. Where |
total progress payments and provisions for losses exceed the costs incurred plus attributable profit the |
excess is shown in current liabilities. |
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Stocks are stated at the lower of cost and net realisable value. |
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Gatehouse Building Services Limited (Registered number: SC420252) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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3. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Gatehouse Building Services Limited (Registered number: SC420252) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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6. | STOCKS |
2017 | 2016 |
£ | £ |
Stocks |
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Work-in-progress |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Tax |
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Deferred tax asset |
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Prepayments |
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Gatehouse Building Services Limited (Registered number: SC420252) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 9) |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 39,798 | 31,709 |
Other loans |
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Directors' current accounts | 2,547 | 2,547 |
Accrued expenses |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
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Non-cancellable |
operating leases |
2017 | 2016 |
£ | £ |
Between one and five years |
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In more than five years |
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10. | SECURED DEBTS |
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The hire purchase creditor is secured against the asset to which it relates. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Share capital 1 | £1 | 2 | 2 |
Gatehouse Building Services Limited (Registered number: SC420252) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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12. | RELATED PARTY DISCLOSURES |
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Other related parties under common control |
2017 | 2016 |
£ | £ |
Amounts due to related parties | 9,231 | 46,832 |
The above loan is unsecured, interest free and repayable on demand. |
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13. | FIRST YEAR ADOPTION |
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For all periods up to and including the year ended 31 March 2016, the Company prepared its financial |
statements in accordance with previously exant United Kingdom generally accepted accounting |
practice (UK GAAP). These financial statements, for the year ended 31 March 2017, are the first |
year the Company has prepared in accordance with FRS102. The significant accounting policies in |
meeting those requirements are described in relevant notes. |