GT Valeting Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC313486 (Scotland)

Financial Statements for the Year Ended 5 April 2019

for

GT Valeting Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTOR:

G R Tinney

REGISTERED OFFICE:

Unit 215 25 Clydesmill Road

Clydesmill Industrial Estate

Cambuslang

Glasgow

G32 8RE

REGISTERED NUMBER:

SC313486 (Scotland)

FIXED ASSETS

Tangible assets

4

22,720

29,912

CURRENT ASSETS

Debtors

5

67,607

51,101

Cash at bank and in hand

66,777

56,054

134,384

107,155

CREDITORS

Amounts falling due within one year

6

80,663

67,734

NET CURRENT ASSETS

53,721

39,421

TOTAL ASSETS LESS CURRENT LIABILITIES

76,441

69,333

CREDITORS

Amounts falling due after more than one year

7

10,400

10,400

NET ASSETS

66,041

58,933

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

66,039

58,931

SHAREHOLDERS' FUNDS

66,041

58,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 November 2019 and were signed by:

G R Tinney - Director

1.	STATUTORY INFORMATION

GT Valeting Services Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 6 April 2018

and 5 April 2019

28,076

3,827

57,841

4,910

94,654

DEPRECIATION

At 6 April 2018

19,451

974

42,169

2,148

64,742

Charge for year

2,156

428

3,918

690

7,192

At 5 April 2019

21,607

1,402

46,087

2,838

71,934

NET BOOK VALUE

At 5 April 2019

6,469

2,425

11,754

2,072

22,720

At 5 April 2018

8,625

2,853

15,672

2,762

29,912

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.19

5.4.18

£

£

Trade debtors

27,557

28,601

Other debtors

40,050

22,500

67,607

51,101

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.19

5.4.18

£

£

Trade creditors

39,068

39,882

Taxation and social security

39,392

26,193

Other creditors

2,203

1,659

80,663

67,734

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5.4.19

5.4.18

£

£

Other creditors

10,400

10,400

8.	ULTIMATE CONTROLLING PARTY

Gordon Tinney ultimate controlling party during the year.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of GT Valeting Services Limited for the year ended 5 April 2019 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of GT Valeting Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GT Valeting Services Limited and state those matters that we have agreed to state to the director of GT Valeting Services Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that GT Valeting Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GT Valeting Services Limited. You consider that GT Valeting Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of GT Valeting Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Date: .............................................