Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-10-01falseOther passenger land transport127125truetrue 01356783 2022-10-01 2023-09-30 01356783 1 2022-10-01 2023-09-30 01356783 2021-10-01 2022-09-30 01356783 2023-09-30 01356783 2022-09-30 01356783 2021-10-01 01356783 d:Director3 2022-10-01 2023-09-30 01356783 c:MotorVehicles 2022-10-01 2023-09-30 01356783 c:MotorVehicles 2023-09-30 01356783 c:MotorVehicles 2022-09-30 01356783 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 01356783 c:FurnitureFittings 2022-10-01 2023-09-30 01356783 c:FurnitureFittings 2023-09-30 01356783 c:FurnitureFittings 2022-09-30 01356783 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 01356783 c:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 01356783 c:CurrentFinancialInstruments 2023-09-30 01356783 c:CurrentFinancialInstruments 2022-09-30 01356783 c:CurrentFinancialInstruments c:WithinOneYear 2023-09-30 01356783 c:CurrentFinancialInstruments c:WithinOneYear 2022-09-30 01356783 c:ShareCapital 2023-09-30 01356783 c:ShareCapital 2022-09-30 01356783 c:CapitalRedemptionReserve 2023-09-30 01356783 c:CapitalRedemptionReserve 2022-09-30 01356783 c:RetainedEarningsAccumulatedLosses 2023-09-30 01356783 c:RetainedEarningsAccumulatedLosses 2022-09-30 01356783 c:AcceleratedTaxDepreciationDeferredTax 2023-09-30 01356783 c:AcceleratedTaxDepreciationDeferredTax 2022-09-30 01356783 c:OtherDeferredTax 2023-09-30 01356783 c:OtherDeferredTax 2022-09-30 01356783 d:FRS102 2022-10-01 2023-09-30 01356783 d:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 01356783 d:FullAccounts 2022-10-01 2023-09-30 01356783 d:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 01356783










B. N. GIBSON LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
B. N. GIBSON LIMITED
REGISTERED NUMBER: 01356783

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
274,552
235,437

Current assets
  

Stocks
 5 
9,846
9,835

Debtors: amounts falling due within one year
 6 
1,552,555
1,415,550

Cash at bank and in hand
  
364,764
323,999

  
1,927,165
1,749,384

Creditors: amounts falling due within one year
 7 
(358,090)
(358,648)

Net current assets
  
 
 
1,569,075
 
 
1,390,736

Total assets less current liabilities
  
1,843,627
1,626,173

Provisions for liabilities
  

Deferred tax
 8 
(64,024)
(49,526)

Net assets
  
1,779,603
1,576,647


Capital and reserves
  

Called up share capital 
  
5,100
5,100

Capital redemption reserve
  
4,900
4,900

Profit and loss account
  
1,769,603
1,566,647

  
1,779,603
1,576,647


Page 1

 
B. N. GIBSON LIMITED
REGISTERED NUMBER: 01356783
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider 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 directors acknowledge their 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 on 7 February 2024.




T M Hawley
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
B. N. GIBSON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

B. N. Gibson Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 01356783). Its registered office is Unit 3 Gibson House, Brailwood Road, Blisthorpe, Newark, Nottinghamshire, NG22 8UA. The principal activity of the Company throughout the year continued to be that of the provision of transport and private ambulance services for the conveyance of service users.

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 Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
B. N. GIBSON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
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, as follows.

The depreciation rates used are:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
10% and 25% reducing balance

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 the Statement of Income and Retained Earnings.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

Page 4

 
B. N. GIBSON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 127 (2022 - 125).

Page 5

 
B. N. GIBSON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost


At 1 October 2022
1,135,097
362,120
1,497,217


Additions
100,170
9,186
109,356


Disposals
(19,377)
-
(19,377)



At 30 September 2023

1,215,890
371,306
1,587,196



Depreciation


At 1 October 2022
922,497
339,283
1,261,780


Charge for the year on owned assets
60,180
6,263
66,443


Disposals
(15,579)
-
(15,579)



At 30 September 2023

967,098
345,546
1,312,644



Net book value



At 30 September 2023
248,792
25,760
274,552



At 30 September 2022
212,600
22,837
235,437


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
9,846
9,835


Page 6

 
B. N. GIBSON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
295,159
292,755

Amounts owed by group undertakings
1,151,398
1,080,468

Other debtors
105,998
30,861

Tax recoverable
-
11,466

1,552,555
1,415,550



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
39,133
29,893

Corporation tax
80,107
62,477

Other taxation and social security
13,086
72,967

Other creditors
225,764
193,311

358,090
358,648



8.


Deferred tax




2023
2022


£

£






At beginning of year
49,526
34,196


Charged to profit or loss
14,498
15,330



At end of year
64,024
49,526

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
64,158
49,874

Other timing differences
(134)
(348)

64,024
49,526

Page 7

 
B. N. GIBSON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £15,420 (2022 - £13,377). Contributions totalling £539 (2022 - £1,392) were payable to the fund at the Balance Sheet date and are included in creditors.


10.Other financial commitments

On 7 March 2022 the Company gave a fixed and floating charge over all of the assets of the Company to the former shareholders of B. N. Gibson Holdings Limited. In addition, on 7 March 2022 the Company entered into an intra group guarantee with T & R Hawley Ltd, B. N. Gibson Holdings Limited and the former shareholders in respect of certain liabilities owed by T & R Hawley Ltd to the former shareholders.


11.


Controlling party

B. N. Gibson Holdings Limited, a company registered in England and Wales, owns 100% of the share capital of the Company.

 
Page 8