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REGISTERED NUMBER: 03521705 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Gusto Construction Limited

Gusto Construction Limited (Registered number: 03521705)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Gusto Construction Limited (Registered number: 03521705)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 125,808 125,524

CURRENT ASSETS
Debtors 5 3,687,144 3,248,982
Cash at bank 59,831 232,576
3,746,975 3,481,558
CREDITORS
Amounts falling due within one year 6 504,430 419,190
NET CURRENT ASSETS 3,242,545 3,062,368
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,368,353

3,187,892

PROVISIONS FOR LIABILITIES 23,625 23,480
NET ASSETS 3,344,728 3,164,412

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 3,334,728 3,154,412
3,344,728 3,164,412

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





J C Wright - Director


Gusto Construction Limited (Registered number: 03521705)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Gusto Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03521705

Registered office: Gusto House
Green Way
Collingham
Newark
Nottinghamshire
NG23 7DX

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 30 ) .

Gusto Construction Limited (Registered number: 03521705)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 238,513 5,851 123,763 368,127
Additions 36,599 - - 36,599
Disposals - - (23,740 ) (23,740 )
At 31 March 2023 275,112 5,851 100,023 380,986
DEPRECIATION
At 1 April 2022 163,134 3,877 75,592 242,603
Charge for year 21,620 495 11,321 33,436
Eliminated on disposal - - (20,861 ) (20,861 )
At 31 March 2023 184,754 4,372 66,052 255,178
NET BOOK VALUE
At 31 March 2023 90,358 1,479 33,971 125,808
At 31 March 2022 75,379 1,974 48,171 125,524

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 684,739 1,244,311
Amounts owed by participating interests - 2,000,000
Other debtors 2,405 4,671
687,144 3,248,982

Amounts falling due after more than one year:
Amounts owed by participating interests 3,000,000 -

Aggregate amounts 3,687,144 3,248,982

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 372,539 249,665
Taxation and social security 108,649 152,132
Other creditors 23,242 17,393
504,430 419,190

7. RELATED PARTY DISCLOSURES

At 31 March 2023, debtors includes an interest free loan of £3,000,000 (2022 - £2,000,000) due from a company which has a participating interest.