Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity12022-04-01false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08634507 2022-04-01 2023-03-31 08634507 2021-02-01 2022-03-31 08634507 2023-03-31 08634507 2022-03-31 08634507 2021-02-01 08634507 1 2022-04-01 2023-03-31 08634507 1 2021-02-01 2022-03-31 08634507 d:Director2 2022-04-01 2023-03-31 08634507 e:PlantMachinery 2022-04-01 2023-03-31 08634507 e:PlantMachinery 2023-03-31 08634507 e:PlantMachinery 2022-03-31 08634507 e:PlantMachinery e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08634507 e:FurnitureFittings 2022-04-01 2023-03-31 08634507 e:FurnitureFittings 2023-03-31 08634507 e:FurnitureFittings 2022-03-31 08634507 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08634507 e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08634507 e:FreeholdInvestmentProperty 2023-03-31 08634507 e:FreeholdInvestmentProperty 2022-03-31 08634507 e:FreeholdInvestmentProperty 2 2022-04-01 2023-03-31 08634507 e:CurrentFinancialInstruments 2023-03-31 08634507 e:CurrentFinancialInstruments 2022-03-31 08634507 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 08634507 e:CurrentFinancialInstruments e:WithinOneYear 2022-03-31 08634507 e:ShareCapital 2023-03-31 08634507 e:ShareCapital 2022-03-31 08634507 e:ShareCapital 2021-02-01 08634507 e:InvestmentPropertiesRevaluationReserve 2022-04-01 2023-03-31 08634507 e:InvestmentPropertiesRevaluationReserve 2023-03-31 08634507 e:InvestmentPropertiesRevaluationReserve 1 2022-04-01 2023-03-31 08634507 e:InvestmentPropertiesRevaluationReserve 2022-03-31 08634507 e:InvestmentPropertiesRevaluationReserve 2021-02-01 08634507 e:InvestmentPropertiesRevaluationReserve 1 2021-02-01 2022-03-31 08634507 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 08634507 e:RetainedEarningsAccumulatedLosses 2023-03-31 08634507 e:RetainedEarningsAccumulatedLosses 2021-02-01 2022-03-31 08634507 e:RetainedEarningsAccumulatedLosses 2022-03-31 08634507 e:RetainedEarningsAccumulatedLosses 2021-02-01 08634507 d:FRS102 2022-04-01 2023-03-31 08634507 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08634507 d:FullAccounts 2022-04-01 2023-03-31 08634507 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08634507 2 2022-04-01 2023-03-31 08634507 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 08634507









GIBBONS HOMES LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023







































 
GIBBONS HOMES LIMITED
REGISTERED NUMBER: 08634507

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,862
2,782

Investments
 5 
221,098
232,494

Investment property
 6 
1,325,000
1,184,000

  
1,547,960
1,419,276

Current assets
  

Debtors: amounts falling due within one year
 7 
11,330
1,775

Cash at bank and in hand
 8 
27,394
18,959

  
38,724
20,734

Creditors: amounts falling due within one year
 9 
(13,252)
(14,628)

Net current assets
  
 
 
25,472
 
 
6,106

Total assets less current liabilities
  
1,573,432
1,425,382

Provisions for liabilities
  

Deferred tax
  
(54,116)
(19,096)

  
 
 
(54,116)
 
 
(19,096)

Net assets
  
1,519,316
1,406,286

Page 1

 
GIBBONS HOMES LIMITED
REGISTERED NUMBER: 08634507
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
1,000
1,000

Investment property reserve
 10 
160,951
55,201

Profit and loss account
 10 
1,357,365
1,350,085

  
1,519,316
1,406,286


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




I M C Gibbons
Director

Date: 7 November 2023

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
GIBBONS HOMES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 February 2021
1,000
40,068
1,313,380
1,354,448



Profit for the period
-
-
54,433
54,433

Dividends: Equity capital
-
-
(2,595)
(2,595)

Transfer to revaluation reserve
-
-
(15,133)
(15,133)

Transfer from profit and loss account
-
15,133
-
15,133



At 1 April 2022
1,000
55,201
1,350,085
1,406,286



Profit for the year
-
-
113,030
113,030

Transfer to revaluation reserve
-
-
(105,750)
(105,750)

Transfer from profit and loss account
-
105,750
-
105,750


At 31 March 2023
1,000
160,951
1,357,365
1,519,316


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Gibbons Homes Limited is a private company limited by shares and incorporated in England. The address of its registered office is Greenwood House, Greenwood Court, Skyliner Way, Bury St Edmunds, Suffolk, IP32 7GY.
These financial statements are in respect of the 12 month period ended 31st March 2023. The previous period was for the 14 months ended 31st March 2022.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Turnover represents the the value of property sales, other work invoiced and rental income excluding value added tax. Property sales are recognised upon legal completion.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the below basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the director and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of income and retained earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2022
5,952
2,247
8,199



At 31 March 2023

5,952
2,247
8,199



Depreciation


At 1 April 2022
4,069
1,348
5,417


Charge for the year on owned assets
471
449
920



At 31 March 2023

4,540
1,797
6,337



Net book value



At 31 March 2023
1,412
450
1,862



At 31 March 2022
1,883
899
2,782

Page 6

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2022
232,494


Additions
22,374


Disposals
(22,097)


Revaluations
(11,673)



At 31 March 2023
221,098





6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
1,184,000


Surplus on revaluation
141,000



At 31 March 2023
1,325,000

The historical cost of investment property is £1,110,399.

The 2023 valuations were made by the directors, on an open market value for existing use basis.




Page 7

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors

2023
2022
£
£


Trade debtors
10,000
-

Prepayments and accrued income
1,330
1,775

11,330
1,775



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
27,394
18,960



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
3,223
4,444

Accruals and deferred income
10,029
10,184

13,252
14,628



10.


Reserves

Investment property revaluation reserve

This reserve records non-distributable gains arising on revaluation of investment properties, net of deferred tax.

Profit and loss account

This reserve represents accumulated retained profits and losses available for distribution.

 
Page 8