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REGISTERED NUMBER: 09287125 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

GILL-HUDSON HOMES LIMITED

GILL-HUDSON HOMES LIMITED (REGISTERED NUMBER: 09287125)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GILL-HUDSON HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: D Gill
S J Hudson





REGISTERED OFFICE: 3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW





REGISTERED NUMBER: 09287125 (England and Wales)





ACCOUNTANTS: GKP (Ampthill) Limited
Chartered Accountants
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

GILL-HUDSON HOMES LIMITED (REGISTERED NUMBER: 09287125)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 316,081 354,007
Investments 5 376,179 339,179
Investment property 6 775,501 775,501
1,467,761 1,468,687

CURRENT ASSETS
Stocks 3,340,080 2,573,893
Debtors 7 5,027,724 5,050,579
Cash at bank and in hand 16,624 17,606
8,384,428 7,642,078
CREDITORS
Amounts falling due within one year 8 3,949,311 3,577,335
NET CURRENT ASSETS 4,435,117 4,064,743
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,902,878

5,533,430

CREDITORS
Amounts falling due after more than one
year

9

(339,158

)

(419,819

)

PROVISIONS FOR LIABILITIES 11 (41,036 ) (37,532 )
NET ASSETS 5,522,684 5,076,079

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 5,522,484 5,075,879
SHAREHOLDER FUNDS 5,522,684 5,076,079

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

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

GILL-HUDSON HOMES LIMITED (REGISTERED NUMBER: 09287125)

BALANCE SHEET - continued
31 OCTOBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





D Gill - Director


GILL-HUDSON HOMES LIMITED (REGISTERED NUMBER: 09287125)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Gill-Hudson Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Preparation of consolidated financial statements
The financial statements contain information about Gill-Hudson Homes Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents income from the sale of developed properties and rental income from the net invoiced rents receivable, excluding value added tax.

Income from property sales is recognised on legal completion.

Rental income is recognised when the property is made available to let.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Office equipment - 30% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Where properties are complete but unsold due to market conditions the directors will continue to classify the properties as stock whilst actively trying to sell. Properties may be rented during this period.

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


GILL-HUDSON HOMES LIMITED (REGISTERED NUMBER: 09287125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Borrowing costs
All borrowing costs in connection with the construction of qualifying assets are recognised as an expense in profit and loss in the period in which they are incurred.

Fixed asset investments
Fixed asset investments are measured at cost less permanent diminution in value.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

GILL-HUDSON HOMES LIMITED (REGISTERED NUMBER: 09287125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 November 2022 189,722 36,254 470,056 696,032
Additions 31,385 5,928 76,550 113,863
Disposals - - (92,842 ) (92,842 )
At 31 October 2023 221,107 42,182 453,764 717,053
DEPRECIATION
At 1 November 2022 74,342 30,997 236,686 342,025
Charge for year 43,339 2,314 64,953 110,606
Eliminated on disposal - - (51,659 ) (51,659 )
At 31 October 2023 117,681 33,311 249,980 400,972
NET BOOK VALUE
At 31 October 2023 103,426 8,871 203,784 316,081
At 31 October 2022 115,380 5,257 233,370 354,007

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 111,022 132,048 243,070
Additions - 76,550 76,550
Disposals - (39,926 ) (39,926 )
At 31 October 2023 111,022 168,672 279,694
DEPRECIATION
At 1 November 2022 17,305 28,316 45,621
Charge for year 27,756 32,542 60,298
Eliminated on disposal - (10,813 ) (10,813 )
At 31 October 2023 45,061 50,045 95,106
NET BOOK VALUE
At 31 October 2023 65,961 118,627 184,588
At 31 October 2022 93,717 103,732 197,449

GILL-HUDSON HOMES LIMITED (REGISTERED NUMBER: 09287125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 November 2022 600 338,579 339,179
Additions - 37,000 37,000
At 31 October 2023 600 375,579 376,179
NET BOOK VALUE
At 31 October 2023 600 375,579 376,179
At 31 October 2022 600 338,579 339,179

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 775,501
NET BOOK VALUE
At 31 October 2023 775,501
At 31 October 2022 775,501

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 52,285 38,617
Amounts owed by group undertakings 4,891,225 4,993,222
Other debtors 21,010 18,740
Directors' current accounts 63,204 -
5,027,724 5,050,579

GILL-HUDSON HOMES LIMITED (REGISTERED NUMBER: 09287125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 88,792 82,872
Other loans 31,579 117,741
Hire purchase contracts 76,003 63,832
Trade creditors 348,203 98,298
Tax 38,013 32,645
Social security and other taxes 5,504 13,617
VAT 2,730 1,566
Other creditors 47,764 29,840
Amount owed to related undertakings 3,291,308 3,117,839
Directors' current accounts 3,494 6,988
Accruals 15,921 12,097
3,949,311 3,577,335

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 97,051 82,872
Bank loans - 2-5 years 201,697 274,624
Hire purchase contracts 40,410 62,323
339,158 419,819

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 387,540 440,368
Hire purchase contracts 116,413 126,155
Other loans 31,579 117,741
535,532 684,264

The directors have a provided two joint and several personal guarantees totalling £430,000 in connection with the other loans.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 41,036 37,532

GILL-HUDSON HOMES LIMITED (REGISTERED NUMBER: 09287125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2022 37,532
Provided during year 3,504
Balance at 31 October 2023 41,036

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
D Gill
Balance outstanding at start of year - -
Amounts advanced 63,204 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,204 -

The director's loan was interest free and was repaid 31 January 2024.

13. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their shareholdings.