GUS ROBINSON DEVELOPMENTS LIMITED

Company Registration Number:
01608152 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

GUS ROBINSON DEVELOPMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

GUS ROBINSON DEVELOPMENTS LIMITED

Directors' report period ended 31 March 2024

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

Principal activities of the company

Principal activities and business review The principal activity of the company is to deliver construction contracts for housing development. The company utilises sub-contractors to deliver building works with the company acting as the principal contractor. Since the decision was taken in July 2021 to no longer pursue new business opportunities, we have focussed upon the completion of outstanding works on completed contracts and reducing our remaining liabilities. During 2023/24 we have continued to finalise and agree remaining liabilities with clients. Operating results show a deterioration over the previous year, with operating losses increasing to (£1.9m) (2023: losses of £1.0m). No dividends have been declared or paid during the year (2023: none). It is now expected that, to minimise impact on and risk to our clients, we will complete the winding up of the company early in the 2025/26 financial year

Political and charitable donations

No charitable donations were made during the financial year (2023: none)

Additional information

Going concern The director has recorded their intention to wind-up the company within the next twelve months therefore the company is not considered to be a going concern. Donations No charitable donations were made during the financial year (2023: none). Directors’ indemnities As permitted by the Articles of Association, the director has the benefit of an indemnity which is a qualifying third-party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the financial year 1 April 2023 to 31 March 2024, and is currently in force. The Company also purchased and maintained throughout the financial year directors’ and officers’ liability insurance in respect of itself and its directors. Director shares The director held no shares in the Company as at 31 March 2024 (2023: none)



Directors

The directors shown below have held office during the period of
1 April 2023 to 28 March 2024

Christine Smith
Jane Marie Castor


The director shown below has held office during the period of
1 April 2023 to 25 October 2023

Andrew Wilson


The director shown below has held office during the period of
28 March 2024 to 31 March 2024

Matthew Forrest


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
18 September 2024

And signed on behalf of the board by:
Name: Matthew Forrest
Status: Director

GUS ROBINSON DEVELOPMENTS LIMITED

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 27,807 4,254,678
Cost of sales: ( 1,885,007 ) ( 4,594,816 )
Gross profit(or loss): (1,857,200) (340,138)
Distribution costs: 0 0
Administrative expenses: ( 233,628 ) ( 639,265 )
Other operating income: 140,924 27,745
Operating profit(or loss): (1,949,904) (951,658)
Interest receivable and similar income: 0 645,002
Interest payable and similar charges: ( 192,043 ) ( 278,733 )
Profit(or loss) before tax: (2,141,947) (585,389)
Tax: 0 0
Profit(or loss) for the financial year: (2,141,947) (585,389)

GUS ROBINSON DEVELOPMENTS LIMITED

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 0 107
Investments: 4 1 1
Total fixed assets: 1 108
Current assets
Stocks: 5 0 135,000
Debtors: 6 695,708 944,837
Cash at bank and in hand: 277,501 109,526
Investments:   0 0
Total current assets: 973,209 1,189,363
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 7 ( 10,726,812 ) ( 8,801,134 )
Net current assets (liabilities): (9,753,603) (7,611,771)
Total assets less current liabilities: (9,753,602) ( 7,611,663)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (9,753,602) (7,611,663)
Capital and reserves
Called up share capital: 40,400 40,400
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: (9,794,002 ) (7,652,063 )
Total Shareholders' funds: ( 9,753,602 ) (7,611,663)

The notes form part of these financial statements

GUS ROBINSON DEVELOPMENTS LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 September 2024
and signed on behalf of the board by:

Name: Matthew Forrest
Status: Director

The notes form part of these financial statements

GUS ROBINSON DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. See the policy on long term contracts for services delivered over more than one year.

    Tangible fixed assets depreciation policy

    Tangible fixed assets Tangible fixed assets 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 as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method or reducing balance basis. Depreciation is provided on the following basis: Plant & machinery - 15% - 33% straight line Motor vehicles - 25% reducing balance Fixtures & fittings - 15% reducing balance Computer equipment - 33% 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 the income statement.

    Other accounting policies

    Interest receivable and payable Interest payable and interest receivable is charged or credited to the statement of comprehensive income in the financial year in which it accrues. Taxation Any charge for taxation is based on the result for the year and takes into account taxation deferred due to timing differences between the treatment of certain items for taxation and for accounting purposes. Impairment Indicators of impairment are considered annually and where an indicator exists, an impairment assessment is performed. Cash Cash in the Company’s balance sheet consists of cash at bank and in hand. Debtors and Creditors Debtors and creditors receivable and payable within one year are recorded at transaction price. Any impairment is recognised in expenses within the Statement of comprehensive income. Gus Robinson Developments Limited Year end 31 March 2024 14 Notes to the financial statements 1. Accounting Policies (continued) Financial instruments The Company has chosen to apply the recognition and measurement provisions of IAS 39 Financial Instruments and to follow the disclosure requirements of FRS 102 Section 11 and 12. The Company has not elected to hold any financial instruments at fair value through profit or loss. All financial assets and liabilities are held at amortised cost. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Impairment provisions for bad and doubtful debts are calculated based on customer payment history with 100% of former tenant arrears being provided for. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of comprehensive income. Share Capital Ordinary shares are classed as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. Grants Grants receivable relating to revenue expenditure are credited to the income and expenditure account in the same period as the expenditure to which they relate. Where grants are received in advance of revenue expenditure they are included in creditors until the expenditure has been incurred. Investment in subsidiaries The Company has 100% shareholding investment in Gus Robinson Homes Limited. The investment is held at cost less accumulated impairment losses.

GUS ROBINSON DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 12

GUS ROBINSON DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 0 0 0 0 38,273 38,273
Additions 0 0 0 0 0 0
Disposals 0 0 0 0 ( 38,273 ) ( 38,273 )
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 March 2024 0 0 0 0 0 0
Depreciation
At 1 April 2023 0 0 0 0 38,166 38,166
Charge for year 0 0 0 0 97 97
On disposals 0 0 0 0 ( 38,273 ) ( 38,273 )
Other adjustments 0 0 0 0 10 10
At 31 March 2024 0 0 0 0 0 0
Net book value
At 31 March 2024 0 0 0 0 0 0
At 31 March 2023 0 0 0 0 107 107

GUS ROBINSON DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Fixed assets investments note

Investments in subsidiary undertakings £ Cost At 31 March 2023 and 2024 1 Net book value At 31 March 2023 and 2024 1 Name Class of shares Holding Principal activity Gus Robinson Homes Limited (2 Hudson Quay, Windward Way, Middlesbrough TS2 1QG) £1 Ordinary Shares 1 Dormant

GUS ROBINSON DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Stocks

2024 2023
£ £
Stocks 0 135,000
Payments on account 0 0
Total 0 135,000

GUS ROBINSON DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Debtors

2024 2023
£ £
Trade debtors 519,641 544,500
Prepayments and accrued income 93,003 357,309
Other debtors 83,064 43,028
Total 695,708 944,837
Debtors due after more than one year: 0 0

GUS ROBINSON DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 403,065 726,871
Taxation and social security 0 3,056
Accruals and deferred income 1,614,842 954,870
Other creditors 8,708,905 7,116,337
Total 10,726,812 8,801,134