IRIS Accounts Production v23.1.5.20 SC163051 Board of Directors 1.2.22 31.1.23 31.1.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC1630512022-01-31SC1630512023-01-31SC1630512022-02-012023-01-31SC1630512021-01-31SC1630512021-02-012022-01-31SC1630512022-01-31SC163051ns16:Scotland2022-02-012023-01-31SC163051ns15:PoundSterling2022-02-012023-01-31SC163051ns11:Director12022-02-012023-01-31SC163051ns11:PrivateLimitedCompanyLtd2022-02-012023-01-31SC163051ns11:SmallEntities2022-02-012023-01-31SC163051ns11:AuditExempt-NoAccountantsReport2022-02-012023-01-31SC163051ns11:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-31SC163051ns11:SmallCompaniesRegimeForAccounts2022-02-012023-01-31SC163051ns11:FullAccounts2022-02-012023-01-31SC163051ns11:Director22022-02-012023-01-31SC163051ns11:CompanySecretary12022-02-012023-01-31SC163051ns11:RegisteredOffice2022-02-012023-01-31SC163051ns6:CurrentFinancialInstruments2023-01-31SC163051ns6:CurrentFinancialInstruments2022-01-31SC163051ns6:Non-currentFinancialInstruments2023-01-31SC163051ns6:Non-currentFinancialInstruments2022-01-31SC163051ns6:ShareCapital2023-01-31SC163051ns6:ShareCapital2022-01-31SC163051ns6:RetainedEarningsAccumulatedLosses2023-01-31SC163051ns6:RetainedEarningsAccumulatedLosses2022-01-31SC163051ns6:PlantMachinery2022-02-012023-01-31SC163051ns6:MotorVehicles2022-02-012023-01-31SC163051ns6:ComputerEquipment2022-02-012023-01-31SC163051ns6:PlantMachinery2022-01-31SC163051ns6:PlantMachinery2023-01-31SC163051ns6:PlantMachinery2022-01-31SC163051ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-01-31SC163051ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-02-012023-01-31SC163051ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2023-01-31SC163051ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-01-31SC163051ns6:WithinOneYearns6:CurrentFinancialInstruments2023-01-31SC163051ns6:WithinOneYearns6:CurrentFinancialInstruments2022-01-31
REGISTERED NUMBER: SC163051 (Scotland)















Unaudited Financial Statements for the Year Ended 31st January 2023

for

GAUGHAN BUILDERS LIMITED

GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051)






Contents of the Financial Statements
for the Year Ended 31st January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GAUGHAN BUILDERS LIMITED

Company Information
for the Year Ended 31st January 2023







DIRECTORS: T Gaughan
G Peterson



SECRETARY: T Gaughan



REGISTERED OFFICE: 47 Clydesdale Street
Hamilton
ML3 0DD



REGISTERED NUMBER: SC163051 (Scotland)



ACCOUNTANTS: Pecuniae Limited
10 Abercorn Drive
Hamilton
ML3 7EX



BANKERS: The Royal Bank of Scotland plc
Palace Towers
Hamilton
ML3 6AD

GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051)

Balance Sheet
31st January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 118,890 114,198

CURRENT ASSETS
Debtors 5 113,225 228,647
Cash at bank and in hand 590,390 536,976
703,615 765,623
CREDITORS
Amounts falling due within one year 6 207,009 263,155
NET CURRENT ASSETS 496,606 502,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

615,496

616,666

CREDITORS
Amounts falling due after more than one
year

7

(109,717

)

(167,575

)

PROVISIONS FOR LIABILITIES (22,589 ) (21,698 )
NET ASSETS 483,190 427,393

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 483,188 427,391
SHAREHOLDERS' FUNDS 483,190 427,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051)

Balance Sheet - continued
31st January 2023


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 Board of Directors and authorised for issue on 28th July 2023 and were signed on its behalf by:





T Gaughan - Director


GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051)

Notes to the Financial Statements
for the Year Ended 31st January 2023

1. STATUTORY INFORMATION

Gaughan Builders 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 represents amounts invoiced to outside customers, except in respect of contracting activities where turnover represents the value of work carried out during the year including amounts not invoiced. Turnover excludes value added tax.

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 - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2023

2. ACCOUNTING POLICIES - continued

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.

Contract work in progress
Profit on contracting activities is recognised in work in progress where the outcome of the relevant contract can be assessed with reasonable certainty. Full provision is made for all known or expected losses at completion of each contract immediately such losses are foreseen. The amount attributable to contracts in the balance sheet (disclosed under debtors as amounts recoverable on contracts) is the value of measured work less certified payments on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2022 170,240
Additions 57,173
Disposals (36,531 )
At 31st January 2023 190,882
DEPRECIATION
At 1st February 2022 56,042
Charge for year 33,381
Eliminated on disposal (17,431 )
At 31st January 2023 71,992
NET BOOK VALUE
At 31st January 2023 118,890
At 31st January 2022 114,198

GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2023

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1st February 2022
and 31st January 2023 70,097
DEPRECIATION
At 1st February 2022 17,826
Charge for year 13,143
At 31st January 2023 30,969
NET BOOK VALUE
At 31st January 2023 39,128
At 31st January 2022 52,271

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,819 34,877
Amounts recoverable on contract 87,801 174,452
Other debtors 13,605 19,318
113,225 228,647

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 15,590 13,068
Trade creditors 108,666 148,607
Taxation and social security 30,650 52,601
Other creditors 52,103 48,879
207,009 263,155

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 21,786 37,376
Other creditors 87,931 130,199
109,717 167,575

GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 37,376 50,444

The bank overdraft facility is secured by a bond and floating charge over the assets of the company, together with a personal guarantee by one of the directors.
Hire purchase liabilities are secured over the relevant assets.