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 |