Company Registration No. 13029615 (England and Wales)
Gilbert Brothers Construction Limited
Unaudited accounts
for the year ended 30 November 2023
Gilbert Brothers Construction Limited
Unaudited accounts
Contents
Gilbert Brothers Construction Limited
Company Information
for the year ended 30 November 2023
Directors
Robert Gilbert
Peter Gilbert
Nicola Gilbert
Terri Gilbert
Company Number
13029615 (England and Wales)
Registered Office
6 Coswinsawsin Lane
Carnhell Green
Camborne
Cornwall
TR14 0LW
Accountants
Ashored
1 Chellew Road
Truro
Cornwall
TR1 1LR
Gilbert Brothers Construction Limited
Statement of financial position
as at 30 November 2023
Tangible assets
58,108
28,295
Inventories
382,940
705,711
Cash at bank and in hand
158,946
18,307
Creditors: amounts falling due within one year
(145,797)
(330,403)
Net current assets
406,238
411,941
Total assets less current liabilities
464,346
440,236
Creditors: amounts falling due after more than one year
(531,836)
(491,157)
Net liabilities
(67,490)
(50,921)
Called up share capital
4
4
Profit and loss account
(67,494)
(50,925)
Shareholders' funds
(67,490)
(50,921)
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 August 2024 and were signed on its behalf by
Robert Gilbert
Director
Company Registration No. 13029615
Gilbert Brothers Construction Limited
Notes to the Accounts
for the year ended 30 November 2023
Gilbert Brothers Construction Limited is a private company, limited by shares, registered in England and Wales, registration number 13029615. The registered office is 6 Coswinsawsin Lane, Carnhell Green, Camborne, Cornwall, TR14 0LW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Computer equipment
25% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The financial statements have been prepared on a going concern basis notwithstanding that at 30 November 2023 the company had net liabilities of £67,490. The company's continuation as a going concern is dependent upon the continued support of the company's directors and shareholders and its ability to generate trading profits from operations in the succeeding period in order to meet its obligations as they fall due. The directors consider it is appropriate to prepare the financial statements on a going concern basis as they undertake to continue to provide financial and other support as necessary to the company.
Gilbert Brothers Construction Limited
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
3,267
34,206
78
37,551
Additions
11,449
32,905
-
44,354
At 30 November 2023
14,716
67,111
78
81,905
At 1 December 2022
1,176
8,042
38
9,256
Charge for the year
2,708
11,814
19
14,541
At 30 November 2023
3,884
19,856
57
23,797
At 30 November 2023
10,832
47,255
21
58,108
At 30 November 2022
2,091
26,164
40
28,295
Amounts falling due within one year
Accrued income and prepayments
1,529
1,529
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
201,000
Trade creditors
24,993
15,320
Taxes and social security
5,284
-
Other creditors
99,998
100,603
Loans from directors
13,804
12,098
7
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
531,836
491,157
Gilbert Brothers Construction Limited
Notes to the Accounts
for the year ended 30 November 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Mr R Gilbert
(136,157)
7,000
37,020
(166,177)
Mr P Gilbert
(351,000)
107,000
46,174
(290,174)
Mrs N Gilbert
(2,000)
-
30,311
(32,311)
Mrs T Gilbert
(2,000)
-
41,174
(43,174)
(491,157)
114,000
154,679
(531,836)
9
Average number of employees
During the year the average number of employees was 4 (2022: 2).