Company Registration No. 03750054 (England and Wales)
GABLE HOMES LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
GABLE HOMES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GABLE HOMES LIMITED
Company Registration No. 03750054
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,028
20,800
Current assets
Debtors
4
1,597,677
1,519,522
Cash at bank and in hand
1,177
1,517
1,598,854
1,521,039
Creditors: amounts falling due within one year
5
(695,811)
(671,435)
Net current assets
903,043
849,604
Total assets less current liabilities
921,071
870,404
Creditors: amounts falling due after more than one year
6
(12,499)
(22,500)
Net assets
908,572
847,904
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
908,472
847,804
Total equity
908,572
847,904

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GABLE HOMES LIMITED
Company Registration No. 03750054
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 20 August 2024
K Whybrow
Director
GABLE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Gable Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Barnett Farm, Norley Lane, Shamley Green, Guildford, Surrey, GU5 0TP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Plant and equipment
25% Straight line
Motor vehicles
4% Straight line
1.3
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction price 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

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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

GABLE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
187,944
Disposals
(19,000)
At 31 March 2024
168,944
Depreciation and impairment
At 1 April 2023
167,144
Depreciation charged in the year
2,772
Eliminated in respect of disposals
(19,000)
At 31 March 2024
150,916
Carrying amount
At 31 March 2024
18,028
At 31 March 2023
20,800
GABLE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,597,677
1,519,522
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
84
73
Taxation and social security
5,425
283
Other creditors
680,302
661,079
695,811
671,435
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,499
22,500
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Related party transactions

At the balance sheet date the company owed £18,226 to the director, K Whybrow (2023 - £45,943). This loan is interest free.

 

At the balance sheet date the company was owed £1,477,964 (2023 - £1,405,460) by Gable Homes Investments Limited.

 

At the balance sheet date the company owed £585,671 (2023 - £536,288) by Gable Homes Lettings Limited.

 

At the balance sheet date the company owed £4,865 (2023 - £10,752) to Keith Whybrow Lettings.

 

At the balance sheet date the company owed £55,675 (2023 - £53,675) to Gable Homes Holdings Limited.

 

At the balance sheet date the company was owed £3,133 (2023 - £1,633) by K&H Classics Limited.

 

GABLE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
9
Parent company

The parent company is Gable Homes Holdings Limited, a company registered in England and Wales.

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