Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30truefalse2022-12-01Building contractors and management of own properties22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01146782 2022-12-01 2023-11-30 01146782 2021-12-01 2022-11-30 01146782 2023-11-30 01146782 2022-11-30 01146782 c:Director2 2022-12-01 2023-11-30 01146782 d:Buildings 2022-12-01 2023-11-30 01146782 d:Buildings 2023-11-30 01146782 d:Buildings 2022-11-30 01146782 d:Buildings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 01146782 d:PlantMachinery 2022-12-01 2023-11-30 01146782 d:PlantMachinery 2023-11-30 01146782 d:PlantMachinery 2022-11-30 01146782 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 01146782 d:MotorVehicles 2022-12-01 2023-11-30 01146782 d:MotorVehicles 2023-11-30 01146782 d:MotorVehicles 2022-11-30 01146782 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 01146782 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 01146782 d:FreeholdInvestmentProperty 2023-11-30 01146782 d:FreeholdInvestmentProperty 2022-11-30 01146782 d:FreeholdInvestmentProperty 2 2022-12-01 2023-11-30 01146782 d:CurrentFinancialInstruments 2023-11-30 01146782 d:CurrentFinancialInstruments 2022-11-30 01146782 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 01146782 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 01146782 d:ShareCapital 2023-11-30 01146782 d:ShareCapital 2022-11-30 01146782 d:CapitalRedemptionReserve 2023-11-30 01146782 d:CapitalRedemptionReserve 2022-11-30 01146782 d:RetainedEarningsAccumulatedLosses 2023-11-30 01146782 d:RetainedEarningsAccumulatedLosses 2022-11-30 01146782 c:FRS102 2022-12-01 2023-11-30 01146782 c:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 01146782 c:FullAccounts 2022-12-01 2023-11-30 01146782 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 01146782 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 01146782 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 01146782 2 2022-12-01 2023-11-30 01146782 6 2022-12-01 2023-11-30 01146782 1 2023-11-30 01146782 1 2022-11-30 01146782 f:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 01146782










GEOGHEGAN BROS. LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
GEOGHEGAN BROS. LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GEOGHEGAN BROS. LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Geoghegan Bros. Limited for the year ended 30 November 2023 which comprise  the Statement of financial position 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 Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Geoghegan Bros. Limited, as a body, in accordance with the terms of our engagement letter dated 1st December 2021Our work has been undertaken solely to prepare for your approval the financial statements of Geoghegan Bros. Limited and state those matters that we have agreed to state to the Board of directors of Geoghegan Bros. Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Geoghegan Bros. Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Geoghegan Bros. Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Geoghegan Bros. Limited. You consider that Geoghegan Bros. Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Geoghegan Bros. Limited. 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 financial statements.

  



McColes & Co (Herts) Ltd
 
Chartered Accountants
  
First Floor
28 Whitehorse Street
Baldock
Hertfordshire
SG7 6QQ
6 August 2024
Page 1

 
GEOGHEGAN BROS. LIMITED
REGISTERED NUMBER: 01146782

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,408
5,389

Investments
 5 
8,182
9,761

Investment property
 6 
19,579,499
17,114,192

  
19,592,089
17,129,342

Current assets
  

Debtors: amounts falling due within one year
 7 
130,367
81,077

Cash at bank and in hand
  
10,726,639
10,076,262

  
10,857,006
10,157,339

Creditors: amounts falling due within one year
 8 
(636,729)
(867,457)

Net current assets
  
 
 
10,220,277
 
 
9,289,882

Total assets less current liabilities
  
29,812,366
26,419,224

Provisions for liabilities
  

Deferred tax
 9 
(2,892,972)
(1,921,797)

  
 
 
(2,892,972)
 
 
(1,921,797)

Net assets
  
26,919,394
24,497,427


Capital and reserves
  

Called up share capital 
  
4,950
4,950

Capital redemption reserve
  
50
50

Profit and loss account
  
26,914,394
24,492,427

  
26,919,394
24,497,427


Page 2

 
GEOGHEGAN BROS. LIMITED
REGISTERED NUMBER: 01146782
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 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 6 August 2024.




K A Hall
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
GEOGHEGAN BROS. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.Accounting policies

 
1.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The presentational currency of the Company is GBP.

The following principal accounting policies have been applied:

 
1.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
1.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
GEOGHEGAN BROS. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.Accounting policies (continued)

 
1.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting 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 reporting 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
1.6

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, using the methods below.

Depreciation is provided on the following basis:

Site huts
-
15% reducing balance
Plant and machinery
-
20% reducing balance
Motor vehicles
-
15% straight line

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 profit or loss.

Page 5

 
GEOGHEGAN BROS. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.Accounting policies (continued)

 
1.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
1.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
GEOGHEGAN BROS. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.


General information

The Company is a private company, limited by shares and registered in England.
Its registered number is: 01146782
Its Registered Office is: 
First Floor
28 Whitehorse Street
Baldock
Hertfordshire
SG7 6QQ


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 December 2022
6,908
12,230
31,130
50,268



At 30 November 2023

6,908
12,230
31,130
50,268



Depreciation


At 1 December 2022
6,845
6,903
31,130
44,878


Charge for the year on owned assets
9
973
-
982



At 30 November 2023

6,854
7,876
31,130
45,860



Net book value



At 30 November 2023
54
4,354
-
4,408



At 30 November 2022
62
5,327
-
5,389

Page 7

 
GEOGHEGAN BROS. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 December 2022
14,598



At 30 November 2023

14,598



Impairment


At 1 December 2022
4,837


Revaluations
1,579



At 30 November 2023

6,416



Net book value



At 30 November 2023
8,182



At 30 November 2022
9,761

Page 8

 
GEOGHEGAN BROS. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 December 2022
17,114,192


Surplus on revaluation
2,465,307



At 30 November 2023
19,579,499

The 2023 valuations were made by Tom Littler MRICS from Aitchison Raffety, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
4,790,866
5,584,637

4,790,866
5,584,637


7.


Debtors

2023
2022
£
£


Trade debtors
30,946
39,129

Prepayments and accrued income
99,421
41,948

130,367
81,077


Page 9

 
GEOGHEGAN BROS. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,201
1,201

Corporation tax
278,082
507,253

Other taxation and social security
81,730
92,376

Other creditors
134,283
131,984

Accruals and deferred income
141,433
134,643

636,729
867,457



9.


Deferred taxation




2023


£






At beginning of year
(1,921,797)


Charged to profit or loss
(971,175)



At end of year
(2,892,972)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,892,972)
(1,921,797)

(2,892,972)
(1,921,797)


10.


Related party transactions

The amount due to the directors, and included in other creditors at the reporting date, was £11,652; (2022: £9,354).  The loan does not attract a rate of interest and is repayable on demand.

 
Page 10