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Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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G.P. Burners (CIB) Ltd |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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G.P. Burners (CIB) Ltd |
G.P. Burners (CIB) Ltd (Registered number: 07535378) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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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 | 3 |
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G.P. Burners (CIB) Ltd |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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G.P. Burners (CIB) Ltd (Registered number: 07535378) |
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Balance Sheet |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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 director on
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G.P. Burners (CIB) Ltd (Registered number: 07535378) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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G.P. Burners (CIB) Ltd 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for goods and services |
provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value |
of consideration takes into account trade discounts, settlement discounts and volume rebates. |
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When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the |
present value of the future receipts. The difference between the fair value of the consideration and the nominal |
amount received is recognised as interest income. |
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Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods |
have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it |
is probable that the economic benefits associated with the transaction will flow to the entity and the costs |
incurred or to be incurred in respect of the transaction can be measured reliably. |
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Revenue from contracts for the provision of professional services is recognised by reference to the stage of |
completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The |
stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates |
and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is |
recognised only to the extent of the expenses recognised that are recoverable. |
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Goodwill |
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Tangible fixed assets |
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Plant and machinery | - |
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Office equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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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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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. |
G.P. Burners (CIB) Ltd (Registered number: 07535378) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
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AMORTISATION |
At 1 January 2018 |
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Amortisation for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | TANGIBLE FIXED ASSETS |
Plant and | Office |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Called up share capital not paid |
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Prepayments |
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G.P. Burners (CIB) Ltd (Registered number: 07535378) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Social security and other taxes |
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VAT |
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Other creditors |
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Accruals and deferred income |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | RELATED PARTY DISCLOSURES |
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C.I.B Unigas S.P.A |
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C.I.B Unigas S.P.A is the parent company of G.P. Burners (CIB) Limited. During the year they provided goods to |
the value of £573,147 (2017: £518,087) and services to the value of £35,040 (2017: £36,824). |
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The amount due to the related party at the balance sheet date was £164,549 (2017: £134,964). |