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REGISTERED NUMBER: 01702203 (England and Wales)














HANNINGTON GILBERT & CO. LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






HANNINGTON GILBERT & CO. LIMITED (REGISTERED NUMBER: 01702203)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


HANNINGTON GILBERT & CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr C M Gilbert
Mr M J Gilbert
Mr D C Gilbert
Mr P Chapman





SECRETARY: Mrs G Adamson





REGISTERED OFFICE: Landgate Chambers
Rye
East Sussex
TN31 7LJ





REGISTERED NUMBER: 01702203 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
Rye
East Sussex
TN31 7LJ

HANNINGTON GILBERT & CO. LIMITED (REGISTERED NUMBER: 01702203)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 168,542 167,659

CURRENT ASSETS
Stock 10,500 11,445
Debtors 5 148,551 110,367
Cash at bank and in hand 95,478 55,235
254,529 177,047
CREDITORS
Amounts falling due within one year 6 186,233 166,644
NET CURRENT ASSETS 68,296 10,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,838

178,062

CREDITORS
Amounts falling due after more than one
year

7

(19,351

)

(47,531

)

PROVISIONS FOR LIABILITIES (5,620 ) (4,719 )
NET ASSETS 211,867 125,812

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 211,767 125,712
SHAREHOLDERS' FUNDS 211,867 125,812

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

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

HANNINGTON GILBERT & CO. LIMITED (REGISTERED NUMBER: 01702203)

BALANCE SHEET - continued
31 MAY 2024


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 21 August 2024 and were signed on its behalf by:





Mr D C Gilbert - Director


HANNINGTON GILBERT & CO. LIMITED (REGISTERED NUMBER: 01702203)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Hannington Gilbert & Co. 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.

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold Property- 2% on cost
Improvements to property- 10% on cost
Plant and machinery- 15% on reducing balance
Motor vehicle- 25% on reducing balance
Computer Equipment- 33% on cost

STOCKS
Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

HANNINGTON GILBERT & CO. LIMITED (REGISTERED NUMBER: 01702203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finace leases are capitalised in the balance sheet and are depreciated over their estimated useful lives.

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

Rentals paid under operating lease are charged to the profit and loss account as incurred.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company contributes to the Joint Industry Board Pension Scheme for the electrical contracting industry, which is a separartely administered fund. Contributions are charged against profits in the year in which they are due.


GRANT INCOME RECOGNITION
Grant income has been recognised under the performance model.

Grants that do not specify any future performance-related conditions are recorded when the grant proceeds are received or receivable. Any grant that imposes specified future performance-related conditions is recognised only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to
Freehold property Plant and
property occupied machinery
£    £    £   
COST
At 1 June 2023 192,999 15,749 24,736
Additions - - 2,050
At 31 May 2024 192,999 15,749 26,786
DEPRECIATION
At 1 June 2023 50,180 15,749 20,567
Charge for year 3,860 - 932
At 31 May 2024 54,040 15,749 21,499
NET BOOK VALUE
At 31 May 2024 138,959 - 5,287
At 31 May 2023 142,819 - 4,169

HANNINGTON GILBERT & CO. LIMITED (REGISTERED NUMBER: 01702203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 44,690 6,773 284,947
Additions 12,595 - 14,645
At 31 May 2024 57,285 6,773 299,592
DEPRECIATION
At 1 June 2023 24,890 5,902 117,288
Charge for year 8,099 871 13,762
At 31 May 2024 32,989 6,773 131,050
NET BOOK VALUE
At 31 May 2024 24,296 - 168,542
At 31 May 2023 19,800 871 167,659

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 35,225 17,428
Other debtors 113,326 92,939
148,551 110,367

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,724 10,509
Hire purchase contracts 7,492 6,691
Trade creditors 24,542 11,249
Taxation and social security 35,239 26,780
Other creditors 113,236 111,415
186,233 166,644

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,778 34,466
Hire purchase contracts 5,573 13,065
19,351 47,531

HANNINGTON GILBERT & CO. LIMITED (REGISTERED NUMBER: 01702203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 19,502 44,975

The bank loan is secured on the company's freehold property, 24 Northridge Park.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100