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REGISTERED NUMBER: 06258016 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

MARK GILBERT BUILDERS LIMITED

MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Statement of Changes in Equity 7

Notes to the Financial Statements 8


MARK GILBERT BUILDERS LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: D M Gilbert
M E Gilbert





SECRETARY: D M Gilbert





REGISTERED OFFICE: Westend Barn
Hardings Lane
Marksbury
BA2 9HP





REGISTERED NUMBER: 06258016 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)

Report of the Directors
for the year ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

D M Gilbert
M E Gilbert

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M E Gilbert - Director


30 August 2024

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Mark Gilbert Builders Limited


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mark Gilbert Builders Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mark Gilbert Builders Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mark Gilbert Builders Limited and state those matters that we have agreed to state to the Board of Directors of Mark Gilbert Builders Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mark Gilbert Builders Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mark Gilbert Builders 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 Mark Gilbert Builders Limited. You consider that Mark Gilbert Builders Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mark Gilbert Builders 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.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


30 August 2024

MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)

Income Statement
for the year ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 965,668 953,436

Cost of sales 724,979 812,575
GROSS PROFIT 240,689 140,861

Administrative expenses 150,021 93,860
OPERATING PROFIT 90,668 47,001

Interest receivable and similar income 1,544 2,012
92,212 49,013

Interest payable and similar expenses 1,739 1,387
PROFIT BEFORE TAXATION 90,473 47,626

Tax on profit 4 18,568 10,542
PROFIT FOR THE FINANCIAL YEAR 71,905 37,084

MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 5,000 6,500
Tangible assets 6 45,610 22,803
50,610 29,303

CURRENT ASSETS
Debtors 7 24,861 175,555
Cash at bank 72,705 13,578
97,566 189,133
CREDITORS
Amounts falling due within one year 8 86,549 180,869
NET CURRENT ASSETS 11,017 8,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,627

37,567

CREDITORS
Amounts falling due after more than one
year

9

(17,318

)

(31,285

)

PROVISIONS FOR LIABILITIES 10 (9,623 ) (5,701 )
NET ASSETS 34,686 581

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 34,684 579
SHAREHOLDERS' FUNDS 34,686 581

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)

Balance Sheet - continued
31 March 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





M E Gilbert - Director


MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)

Statement of Changes in Equity
for the year ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 2 1,495 1,497

Changes in equity
Dividends - (38,000 ) (38,000 )
Total comprehensive income - 37,084 37,084
Balance at 31 March 2023 2 579 581

Changes in equity
Dividends - (37,800 ) (37,800 )
Total comprehensive income - 71,905 71,905
Balance at 31 March 2024 2 34,684 34,686

MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Mark Gilbert Builders 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.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant & machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 14,646 10,085

Deferred tax 3,922 457
Tax on profit 18,568 10,542

MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023 23,500
Amortisation for year 1,500
At 31 March 2024 25,000
NET BOOK VALUE
At 31 March 2024 5,000
At 31 March 2023 6,500

6. TANGIBLE FIXED ASSETS
Fixtures
Plant & and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 6,359 - 45,016 4,802 56,177
Additions - 2,925 35,320 - 38,245
At 31 March 2024 6,359 2,925 80,336 4,802 94,422
DEPRECIATION
At 1 April 2023 6,119 - 24,557 2,698 33,374
Charge for year 60 731 13,945 702 15,438
At 31 March 2024 6,179 731 38,502 3,400 48,812
NET BOOK VALUE
At 31 March 2024 180 2,194 41,834 1,402 45,610
At 31 March 2023 240 - 20,459 2,104 22,803

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,903 73,496
Other debtors 1,958 102,059
24,861 175,555

MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,666 9,666
Hire purchase contracts 3,831 5,601
Trade creditors 52,365 95,881
Taxation and social security 16,366 24,750
Other creditors 4,321 44,971
86,549 180,869

The hire purchase liabilities are secured against the assets of which they relate.

Included within bank loans due in less than one year is £9,666 bounce back loan (2023: £9,666) Secured by the government.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 14,220 24,356
Hire purchase contracts 3,098 6,929
17,318 31,285

Included within bank loans due in more than one year is a £14,219 bounce back loan(2023: £24,356) secured by the government.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 9,623 5,701

Deferred
tax
£   
Balance at 1 April 2023 5,701
Accelerated capital allowances 3,922
Balance at 31 March 2024 9,623

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

MARK GILBERT BUILDERS LIMITED (REGISTERED NUMBER: 06258016)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year-end, the company owed the directors a balance £152 (2023: £100,905). During the year £95,243 (2023: £125,030) was advanced and £196,300.40 (2023: £64,922) was repaid. Included in advances is a balance of £1,222 (2023: £2,012) for interest charged during the year.