Registered number
06388704
Gilbert Eliott Holdings Limited
Filleted Accounts
31 August 2023
Gilbert Eliott Holdings Limited
Registered number: 06388704
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 483 563
Investments 4 228,360 682,089
228,843 682,652
Current assets
Debtors 5 874,888 640,810
Cash at bank and in hand 678 6,078
875,566 646,888
Creditors: amounts falling due within one year 6 (2,995,439) (2,530,361)
Net current liabilities (2,119,873) (1,883,473)
Net liabilities (1,891,030) (1,200,821)
Capital and reserves
Called up share capital 8,053,608 8,053,608
Share premium 753,623 753,623
Profit and loss account (10,698,261) (10,008,052)
Shareholders' funds (1,891,030) (1,200,821)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Holgate
Director
Approved by the board on 4 April 2024
Gilbert Eliott Holdings Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
The financial statements are prepared on the basis that the fundamental concept of going concern is applied. The principal factors in this consideration are the continued support of the company's creditors and the achievement of projected income streams. The director considered that the going concern concept continues to be appropriate and this has therefore been applied. If the going concern basis proves not to be appropriate, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amount and to provide for any further liabilities that might arise.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 7,257
Additions 301
At 31 August 2023 7,558
Depreciation
At 1 September 2022 6,694
Charge for the year 381
At 31 August 2023 7,075
Net book value
At 31 August 2023 483
At 31 August 2022 563
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost or Fair value
At 1 September 2022 1,000 681,089 682,089
Additions - 37,582 37,582
Revaluation - (491,311) (491,311)
At 31 August 2023 1,000 227,360 228,360
Historical cost
At 1 September 2022 - 210,965
At 31 August 2023 - 248,547
The company holds 20% or more of the share capital of the following companies:
Capital and Profit /(Loss)
Company Shares held reserves for the period
Class % £ £
Gilbert Eliott Consultancy Ltd. Ordinary 100 (19,506) -
Other Investments
The shares in Locosoco Group plc were revalued by the Director on 31 August 2023, as the shares are now no longer quoted on the Weiner Borse and therefore have a minimal value of €0.08 per share. The shares in Cleantech Building Materials plc are valued at cost. These shares were delisted from Nasdaq First North Growth Market in November 2023.
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,360 1,670
Other debtors 872,528 639,140
874,888 640,810
6 Creditors: amounts falling due within one year 2023 2022
£ £
Non-equity preference shares 12,500 12,500
Trade creditors - 2,200
Amounts owed to group undertakings and undertakings in which the company has a participating interest 586,107 58,140
Other creditors 2,396,832 2,457,521
2,995,439 2,530,361
7 Other information
Gilbert Eliott Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
85 Great Portland Street
London
W1W 7LT
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