Registered number
SC624307
Gus Robertson Building Contractor Ltd
Unaudited Filleted Accounts
31 March 2024
Gus Robertson Building Contractor Ltd
Registered number: SC624307
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 447,880 479,990
Current assets
Stocks 36,917 5,000
Debtors 4 171,581 243,915
Cash at bank and in hand 179,255 103,159
387,753 352,074
Creditors: amounts falling due within one year 5 (89,249) (83,379)
Net current assets 298,504 268,695
Total assets less current liabilities 746,384 748,685
Creditors: amounts falling due after more than one year 6 (73,393) (79,921)
Net assets 672,991 668,764
Capital and reserves
Called up share capital 2 2
Profit and loss account 672,989 668,762
Shareholders' funds 672,991 668,764
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jennifer Robertson
Director
Approved by the board on 5 September 2024
Gus Robertson Building Contractor Ltd
Notes to the Accounts
for the period from 1 June 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment 25% reducing balance
Plant & Machinery - containers & scaffolding over 20 years
Plant & Machinery - machinery & trailers over 10 years
Plant & Machinery - tools & accessories over 5 years
Plant & Machinery - tools & machinery batteries over 3 years
Motor Vehicles - commercial 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Office Equipment Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
At 1 June 2023 1,820 495,627 59,294 556,741
Additions - 7,654 72,814 80,468
Disposals (232) (33,870) (59,294) (93,396)
At 31 March 2024 1,588 469,411 72,814 543,813
Depreciation
At 1 June 2023 562 52,728 23,461 76,751
Charge for the period 262 43,163 9,327 52,752
On disposals (141) (16,799) (16,630) (33,570)
At 31 March 2024 683 79,092 16,158 95,933
Net book value
At 31 March 2024 905 390,319 56,656 447,880
At 31 May 2023 1,258 442,899 35,833 479,990
4 Debtors 2024 2023
£ £
Trade Debtors 126,798 213,596
VAT Reclaimable - 14,651
Deferred Tax - 78
Prepayments & Accrued Income 44,524 15,512
PAYE/NIC Reclaimable 259 78
171,581 243,915
5 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals & Deferred Income 1,100 32,044
VAT Payable 24,173 -
Trade Creditors 32,366 37,310
Other Creditors - 2,787
Deferred Tax 11,704 11,238
89,249 83,379
6 Creditors: amounts falling due after one year 2024 2023
£ £
Deferred Tax 73,393 79,921
7 Other information
Gus Robertson Building Contractor Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
Sorne House
Glengorm
Tobermory
Isle of Mull
Argyll & Bute
PA75 6QD
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