Gunnaflex Hydraulic Services Ltd - Accounts to registrar (filleted) - small 22.3

Gunnaflex Hydraulic Services Ltd - Accounts to registrar (filleted) - small 22.3

GUNNAFLEX HYDRAULIC SERVICES LTD - Company Information

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IRIS Accounts Production v22.3.0.621 SC394256 director 1.3.21 28.2.22 28.2.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3942562021-02-28SC3942562022-02-28SC3942562021-03-012022-02-28SC3942562020-02-29SC3942562020-03-012021-02-28SC3942562021-02-28SC394256ns16:Scotland2021-03-012022-02-28SC394256ns15:PoundSterling2021-03-012022-02-28SC394256ns11:Director12021-03-012022-02-28SC394256ns11:PrivateLimitedCompanyLtd2021-03-012022-02-28SC394256ns11:SmallEntities2021-03-012022-02-28SC394256ns11:AuditExempt-NoAccountantsReport2021-03-012022-02-28SC394256ns11:SmallCompaniesRegimeForDirectorsReport2021-03-012022-02-28SC394256ns11:SmallCompaniesRegimeForAccounts2021-03-012022-02-28SC394256ns11:FullAccounts2021-03-012022-02-28SC394256ns11:RegisteredOffice2021-03-012022-02-28SC394256ns6:CurrentFinancialInstruments2022-02-28SC394256ns6:CurrentFinancialInstruments2021-02-28SC394256ns6:Non-currentFinancialInstruments2022-02-28SC394256ns6:Non-currentFinancialInstruments2021-02-28SC394256ns6:ShareCapital2022-02-28SC394256ns6:ShareCapital2021-02-28SC394256ns6:RetainedEarningsAccumulatedLosses2022-02-28SC394256ns6:RetainedEarningsAccumulatedLosses2021-02-28SC394256ns6:PlantMachinery2021-03-012022-02-28SC394256ns6:PlantMachinery2021-02-28SC394256ns6:PlantMachinery2022-02-28SC394256ns6:PlantMachinery2021-02-28SC394256ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-02-28SC394256ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-03-012022-02-28SC394256ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-02-28SC394256ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-02-28SC394256ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-28SC394256ns6:WithinOneYearns6:CurrentFinancialInstruments2021-02-28
REGISTERED NUMBER: SC394256 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2022

for

Gunnaflex Hydraulic Services Ltd
Gunnaflex Hydraulic Services Ltd (Registered number: SC394256)






Contents of the Financial Statements
for the Year Ended 28 February 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gunnaflex Hydraulic Services Ltd

Company Information
for the Year Ended 28 February 2022







DIRECTOR: C Brown





REGISTERED OFFICE: 76 Dumbarton Road
Clydebank
Glasgow
G81 1UG





REGISTERED NUMBER: SC394256 (Scotland)





ACCOUNTANTS: Graham & Co. (Accountants) Limited
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG
Page 1
Gunnaflex Hydraulic Services Ltd (Registered number: SC394256)

Balance Sheet
28 February 2022

28.2.22 28.2.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,287 18,595

CURRENT ASSETS
Stocks 1,050 1,050
Debtors 5 26,352 20,937
Cash at bank 13,854 46,860
41,256 68,847
CREDITORS
Amounts falling due within one year 6 22,980 25,866
NET CURRENT ASSETS 18,276 42,981
TOTAL ASSETS LESS CURRENT
LIABILITIES
36,563
61,576

CREDITORS
Amounts falling due after more than one
year
7
(22,571
)
(36,500
)

PROVISIONS FOR LIABILITIES - (247 )
NET ASSETS 13,992 24,829

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 13,991 24,828
SHAREHOLDERS' FUNDS 13,992 24,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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 notes form part of these financial statements

Page 2 continued...
Gunnaflex Hydraulic Services Ltd (Registered number: SC394256)

Balance Sheet - continued
28 February 2022


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 25 October 2022 and were signed by:





C Brown - Director


The notes form part of these financial statements

Page 3
Gunnaflex Hydraulic Services Ltd (Registered number: SC394256)

Notes to the Financial Statements
for the Year Ended 28 February 2022

1. STATUTORY INFORMATION

Gunnaflex Hydraulic Services Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

Page 4 continued...
Gunnaflex Hydraulic Services Ltd (Registered number: SC394256)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2021 43,112
Additions 6,984
At 28 February 2022 50,096
DEPRECIATION
At 1 March 2021 24,517
Charge for year 7,292
At 28 February 2022 31,809
NET BOOK VALUE
At 28 February 2022 18,287
At 28 February 2021 18,595

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2021
and 28 February 2022 27,857
DEPRECIATION
At 1 March 2021 15,126
Charge for year 3,183
At 28 February 2022 18,309
NET BOOK VALUE
At 28 February 2022 9,548
At 28 February 2021 12,731

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.22 28.2.21
£    £   
Trade debtors 26,352 20,937

Page 5 continued...
Gunnaflex Hydraulic Services Ltd (Registered number: SC394256)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.22 28.2.21
£    £   
Bank loans and overdrafts 6,000 -
Hire purchase contracts 5,571 5,571
Trade creditors 2,382 5,893
Taxation and social security 8,683 13,520
Other creditors 344 882
22,980 25,866

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.22 28.2.21
£    £   
Bank loans 21,642 30,000
Hire purchase contracts 929 6,500
22,571 36,500

8. RELATED PARTY DISCLOSURES

Other creditors includes £344 due to the director, C Brown.

Page 6