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REGISTERED NUMBER:
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GILL MECHANICAL SERVICES LIMITED |
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Unaudited Financial Statements for the Year Ended 31 July 2017 |
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REGISTERED NUMBER:
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GILL MECHANICAL SERVICES LIMITED |
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Unaudited Financial Statements for the Year Ended 31 July 2017 |
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GILL MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: 02882658) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2017 |
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Page |
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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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GILL MECHANICAL SERVICES LIMITED |
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Company Information |
for the Year Ended 31 July 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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59-61 Charlotte Street |
St Pauls Square |
Birmingham |
West Midlands |
B3 1PX |
GILL MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: 02882658) |
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Balance Sheet |
31 July 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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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. |
GILL MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: 02882658) |
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Balance Sheet - continued |
31 July 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
by: |
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GILL MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: 02882658) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2017 |
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1. | STATUTORY INFORMATION |
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Gill Mechanical Services Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover comprises the fair value of the consideration received or receivable, net of value added tax. |
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Turnover is recognised as follows: |
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Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the |
stage of completion of the contract activity at the balance sheet date. This is normally measured by surveys of |
work performed to date. Variations in contract work, claims and incentive payments are included to the extent |
that it is probable that they will result in revenue and they are capable of being reliably measured. |
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Where the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of |
contract costs incurred that it is probable will be recoverable. Contract costs are recognised as expenses in the |
period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, |
the expected loss is recognised as an expense immediately. |
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Tangible fixed assets |
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Long leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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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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GILL MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: 02882658) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | Plant and | and | Motor |
leasehold | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 August 2016 |
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Additions |
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At 31 July 2017 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for year |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Due from group company |
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VAT |
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Prepayments |
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GILL MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: 02882658) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts (see note 8) |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Pension |
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Directors' current accounts |
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Accrued expenses |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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8. | 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 |
£ | £ |
Within one year |
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Between one and five years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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Hire purchase contracts | - | 1,875 |
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The bank loan is secured on the property of which it relates to. |
GILL MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: 02882658) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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Preference | £1 | 100 | 100 |
200 | 200 |
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a) Voting rights |
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The ordinary shares carry all of the voting rights with one share equating to one vote. |
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b) Winding up |
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The preference rank first for redemption on winding up. The value of their redemption is limited to their allotted |
value. The balance of the net assets will be distributed amongst the ordinary shareholders. |
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c) Dividend rights |
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The holders of the preference shares shall be entitled to receive a dividend only at the company's discretion. |
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d) Other rights |
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The preference shares are redeemable at the company's option. |
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11. | ULTIMATE CONTROLLING PARTY |
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The company was controlled by N J Gill and J Gill by virtue of their 80% shareholding in the ultimate parent |
undertaking. |