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

REGISTERED NUMBER: SC313486 (Scotland)

Financial Statements for the Year Ended 5 April 2020

for

GT Valeting Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

19,132

22,720

CURRENT ASSETS

Debtors

5

82,607

67,607

Cash at bank and in hand

95,002

66,777

177,609

134,384

CREDITORS

Amounts falling due within one year

6

110,685

80,663

NET CURRENT ASSETS

66,924

53,721

TOTAL ASSETS LESS CURRENT LIABILITIES

86,056

76,441

CREDITORS

Amounts falling due after more than one year

7

10,400

10,400

NET ASSETS

75,656

66,041

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

75,654

66,039

SHAREHOLDERS' FUNDS

75,656

66,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 10 June 2020 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 the cost less estimated residual value of 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 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2019 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 6 April 2019

28,076

3,827

57,841

4,910

94,654

Additions

1,850

-

-

-

1,850

At 5 April 2020

29,926

3,827

57,841

4,910

96,504

DEPRECIATION

At 6 April 2019

21,607

1,402

46,087

2,838

71,934

Charge for year

1,617

364

2,939

518

5,438

At 5 April 2020

23,224

1,766

49,026

3,356

77,372

NET BOOK VALUE

At 5 April 2020

6,702

2,061

8,815

1,554

19,132

At 5 April 2019

6,469

2,425

11,754

2,072

22,720

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.20

5.4.19

£

£

Trade debtors

27,557

27,557

Other debtors

55,050

40,050

82,607

67,607

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.20

5.4.19

£

£

Trade creditors

72,930

39,068

Taxation and social security

34,031

39,392

Other creditors

3,724

2,203

110,685

80,663

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5.4.20

5.4.19

£

£

Other creditors

10,400

10,400

8.	ULTIMATE CONTROLLING PARTY

Gordon Tinney ultimate controlling party during the year.