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Registered Number: 12827279


 

 

 

GIBBS GEOTECHNICAL LTD


Abridged Accounts
 


Period of accounts

Start date: 01 September 2021

End date: 31 August 2022
Report to the directors on the preparation of the unaudited statutory accounts of Gibbs Geotechnical Ltd for the year ended 31 August 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gibbs Geotechnical Ltd for the year ended 31 August 2022 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Gibbs Geotechnical Ltd, as a body, in accordance with the terms of our engagement letter dated 30 November 2023 Our work has been undertaken solely to prepare for your approval the accounts of Gibbs Geotechnical Ltd and state those matters that we have agreed to state to the Board of Directors of Gibbs Geotechnical Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gibbs Geotechnical Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Gibbs Geotechnical Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gibbs Geotechnical Ltd. You consider that Gibbs Geotechnical Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Gibbs Geotechnical Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 August 2022



....................................................
Whitfield Jones
Avon House
19 Stanwell Road
Penarth
CF64 2EZ
30 November 2023
1
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Intangible fixed assets 3 6,000    8,000 
Tangible fixed assets 4 29,600    37,000 
35,600    45,000 
Current assets      
Cash at bank and in hand (19,701)   (19,701)
Creditors: amount falling due within one year (26,000)   (26,000)
Net current liabilities (45,701)   (45,701)
 
Total assets less current liabilities (10,101)   (701)
Provisions for liabilities (2,432)   (2,432)
Net liabilities (12,533)   (3,133)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (12,534)   (3,134)
Shareholder's funds (12,533)   (3,133)
 


For the year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 30 November 2023 and were signed by:


-------------------------------
Mr O Gibbs
Director
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General Information
Gibbs Geotechnical Ltd is a private company, limited by shares, registered in , registration number 12827279, registration address Cartref Dawel Upper Gellifelen, Llanelly Hill, Abergavenny, NP7 0NU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:


Plant and Machinery      -      20% Reducing Balance
Motor Vehicles               -      20% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2021 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 September 2021 10,000    10,000 
Additions  
Disposals  
At 31 August 2022 10,000    10,000 
Amortisation
At 01 September 2021 2,000    2,000 
Charge for year 2,000    2,000 
On disposals  
At 31 August 2022 4,000    4,000 
Net book values
At 31 August 2022 6,000    6,000 
At 31 August 2021 8,000    8,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 September 2021 16,000    30,250    46,250 
Additions    
Disposals    
At 31 August 2022 16,000    30,250    46,250 
Depreciation
At 01 September 2021 3,200    6,050    9,250 
Charge for year 2,560    4,840    7,400 
On disposals    
At 31 August 2022 5,760    10,890    16,650 
Net book values
Closing balance as at 31 August 2022 10,240    19,360    29,600 
Opening balance as at 01 September 2021 12,800    24,200    37,000 


3