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REGISTERED NUMBER: SC488188 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Gordon Baillie Contracting Limited

Gordon Baillie Contracting Limited (Registered number: SC488188)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Gordon Baillie Contracting Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr Gordon Baillie Snr
Mr Gordon Baillie Jnr





REGISTERED OFFICE: Dunaluinn House
Kilkenzie
Campbeltown
PA28 6QD





REGISTERED NUMBER: SC488188 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Gordon Baillie Contracting Limited (Registered number: SC488188)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 239,439 149,582

CURRENT ASSETS
Stock and work in progress 2,158 3,616
Debtors 6 53,034 53,351
Cash at bank 168,925 342,409
224,117 399,376
CREDITORS
Amounts falling due within one year 7 222,282 289,835
NET CURRENT ASSETS 1,835 109,541
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,274

259,123

CREDITORS
Amounts falling due after more than one
year

8

(49,877

)

(80,608

)

PROVISIONS FOR LIABILITIES (29,445 ) (28,420 )
NET ASSETS 161,952 150,095

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 161,950 150,093
SHAREHOLDERS' FUNDS 161,952 150,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Gordon Baillie Contracting Limited (Registered number: SC488188)

Balance Sheet - continued
31 October 2023


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 4 September 2024 and were signed on its behalf by:





Mr Gordon Baillie Jnr - Director


Gordon Baillie Contracting Limited (Registered number: SC488188)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Gordon Baillie Contracting Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from general plant hire and contracting services supplied by the company.
Turnover is measured at the fair value of plant hire and contracting service supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance and 25% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.
At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Stock and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.


Gordon Baillie Contracting Limited (Registered number: SC488188)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. 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
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 - 305,180 305,180
Additions 121,723 9,300 131,023
At 31 October 2023 121,723 314,480 436,203
DEPRECIATION
At 1 November 2022 - 155,598 155,598
Charge for year - 41,166 41,166
At 31 October 2023 - 196,764 196,764
NET BOOK VALUE
At 31 October 2023 121,723 117,716 239,439
At 31 October 2022 - 149,582 149,582

Gordon Baillie Contracting Limited (Registered number: SC488188)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 104,035
DEPRECIATION
At 1 November 2022 12,763
Charge for year 26,009
At 31 October 2023 38,772
NET BOOK VALUE
At 31 October 2023 65,263
At 31 October 2022 91,272

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 25,920 -
Other debtors 27,114 53,351
53,034 53,351

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 22,721 46,034
Trade creditors 24,250 81,562
Taxation and social security 16,203 193
Other creditors 149,108 152,046
222,282 289,835

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,833 30,833
Hire purchase contracts 29,044 49,775
49,877 80,608

Gordon Baillie Contracting Limited (Registered number: SC488188)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 30,833 40,833
Hire purchase contracts 51,765 95,809
82,598 136,642

The bank loan is supported by a 100% guarantee from the UK Government.

Hire purchase contracts are secured on the assets to which they relate.

10. RELATED PARTY DISCLOSURES

The company operates a loan account with the directors, Gordon Baillie Snr and Gordon Baillie Jnr.

During the year, the company repaid loans totalling £2,940 to the directors. At the year end, the balance due to the directors was £146,813 (2022: £149,753). This loan is unsecured, interest free and has no fixed repayment terms.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Gordon Baillie Contracting Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gordon Baillie Contracting Limited for the year ended 31 October 2023 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Gordon Baillie Contracting 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 Gordon Baillie Contracting Limited and state those matters that we have agreed to state to the Board of Directors of Gordon Baillie Contracting Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gordon Baillie Contracting 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 Gordon Baillie Contracting Limited. You consider that Gordon Baillie Contracting 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 Gordon Baillie Contracting 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.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


4 September 2024