Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08634507 2023-04-01 2024-03-31 08634507 2022-04-01 2023-03-31 08634507 2024-03-31 08634507 2023-03-31 08634507 2022-04-01 08634507 1 2023-04-01 2024-03-31 08634507 1 2022-04-01 2023-03-31 08634507 d:Director2 2023-04-01 2024-03-31 08634507 e:PlantMachinery 2023-04-01 2024-03-31 08634507 e:PlantMachinery 2024-03-31 08634507 e:PlantMachinery 2023-03-31 08634507 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08634507 e:FurnitureFittings 2023-04-01 2024-03-31 08634507 e:FurnitureFittings 2024-03-31 08634507 e:FurnitureFittings 2023-03-31 08634507 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08634507 e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08634507 e:FreeholdInvestmentProperty 2024-03-31 08634507 e:FreeholdInvestmentProperty 2023-03-31 08634507 e:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 08634507 e:CurrentFinancialInstruments 2024-03-31 08634507 e:CurrentFinancialInstruments 2023-03-31 08634507 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 08634507 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 08634507 e:ShareCapital 2024-03-31 08634507 e:ShareCapital 2023-03-31 08634507 e:ShareCapital 2022-04-01 08634507 e:InvestmentPropertiesRevaluationReserve 2023-04-01 2024-03-31 08634507 e:InvestmentPropertiesRevaluationReserve 2024-03-31 08634507 e:InvestmentPropertiesRevaluationReserve 1 2023-04-01 2024-03-31 08634507 e:InvestmentPropertiesRevaluationReserve 2023-03-31 08634507 e:InvestmentPropertiesRevaluationReserve 2022-04-01 08634507 e:InvestmentPropertiesRevaluationReserve 1 2022-04-01 2023-03-31 08634507 e:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 08634507 e:RetainedEarningsAccumulatedLosses 2024-03-31 08634507 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 08634507 e:RetainedEarningsAccumulatedLosses 2023-03-31 08634507 e:RetainedEarningsAccumulatedLosses 2022-04-01 08634507 d:FRS102 2023-04-01 2024-03-31 08634507 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08634507 d:FullAccounts 2023-04-01 2024-03-31 08634507 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08634507 2 2023-04-01 2024-03-31 08634507 6 2023-04-01 2024-03-31 08634507 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 08634507









GIBBONS HOMES LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024







































 
GIBBONS HOMES LIMITED
REGISTERED NUMBER: 08634507

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,060
1,862

Investments
 5 
265,089
221,098

Investment property
 6 
1,457,500
1,325,000

  
1,723,649
1,547,960

Current assets
  

Debtors: amounts falling due within one year
 7 
11,310
11,330

Cash at bank and in hand
 8 
22,927
27,394

  
34,237
38,724

Creditors: amounts falling due within one year
 9 
(19,030)
(13,252)

Net current assets
  
 
 
15,207
 
 
25,472

Total assets less current liabilities
  
1,738,856
1,573,432

Provisions for liabilities
  

Deferred tax
  
(87,040)
(54,116)

  
 
 
(87,040)
 
 
(54,116)

Net assets
  
1,651,816
1,519,316

Page 1

 
GIBBONS HOMES LIMITED
REGISTERED NUMBER: 08634507
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
1,000
1,000

Investment property reserve
 10 
260,326
160,951

Profit and loss account
 10 
1,390,490
1,357,365

  
1,651,816
1,519,316


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




I M C Gibbons
Director

Date: 22 October 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
GIBBONS HOMES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
1,000
55,201
1,350,085
1,406,286



Profit for the year
-
-
113,030
113,030

Transfer to revaluation reserve
-
-
(105,750)
(105,750)

Transfer from profit and loss account
-
105,750
-
105,750



At 1 April 2023
1,000
160,951
1,357,365
1,519,316



Profit for the year
-
-
133,429
133,429

Dividends: Equity capital
-
-
(929)
(929)

Transfer to revaluation reserve
-
-
(99,375)
(99,375)

Transfer from profit and loss account
-
99,375
-
99,375


At 31 March 2024
1,000
260,326
1,390,490
1,651,816


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Gibbons Homes Limited is a private company limited by shares and incorporated in England. The address of its registered office is Greenwood House, Greenwood Court, Skyliner Way, Bury St Edmunds, Suffolk, IP32 7GY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Turnover represents the the value of property sales, other work invoiced and rental income excluding value added tax. Property sales are recognised upon legal completion.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the below basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the director and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of
Page 5

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 7

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
5,952
2,247
8,199



At 31 March 2024

5,952
2,247
8,199



Depreciation


At 1 April 2023
4,540
1,797
6,337


Charge for the year on owned assets
353
449
802



At 31 March 2024

4,893
2,246
7,139



Net book value



At 31 March 2024
1,059
1
1,060



At 31 March 2023
1,412
450
1,862

Page 8

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2023
221,098


Additions
58,263


Disposals
(33,206)


Revaluations
18,934



At 31 March 2024
265,089





6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,325,000


Surplus on revaluation
132,500



At 31 March 2024
1,457,500

The historical cost of investment property is £1,110,399.

The 2024 valuations were made by the directors, on an open market value for existing use basis.




Page 9

 
GIBBONS HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
10,000
10,000

Prepayments and accrued income
1,310
1,330

11,310
11,330



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
22,927
27,394



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
2,866
3,223

Accruals and deferred income
16,164
10,029

19,030
13,252



10.


Reserves

Investment property revaluation reserve

This reserve records non-distributable gains arising on revaluation of investment properties, net of deferred tax.

Profit and loss account

This reserve represents accumulated retained profits and losses available for distribution.

 
Page 10