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REGISTERED NUMBER: 04663051 (England and Wales)












GIBBONS ROOFING SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






GIBBONS ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04663051)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GIBBONS ROOFING SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mr J P Gibbons





SECRETARY: Mrs A C Gibbons





REGISTERED OFFICE: Church Farm
High Street
Church Eaton
Staffordshire
ST20 0AG





REGISTERED NUMBER: 04663051 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

GIBBONS ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04663051)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,860 19,772

CURRENT ASSETS
Stocks 178,191 154,376
Debtors 5 290,564 270,858
Cash at bank 301,846 372,275
770,601 797,509
CREDITORS
Amounts falling due within one year 6 574,028 611,689
NET CURRENT ASSETS 196,573 185,820
TOTAL ASSETS LESS CURRENT
LIABILITIES

233,433

205,592

CREDITORS
Amounts falling due after more than one
year

7

(13,825

)

(23,693

)

PROVISIONS FOR LIABILITIES (3,757 ) (3,757 )
NET ASSETS 215,851 178,142

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 215,751 178,042
SHAREHOLDERS' FUNDS 215,851 178,142

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GIBBONS ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04663051)

BALANCE SHEET - continued
29 FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





Mr J P Gibbons - Director


GIBBONS ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04663051)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Gibbons Roofing Supplies 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.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowances for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GIBBONS ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04663051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 14,329 650 36,000 5,957 56,936
Additions - - 30,750 - 30,750
At 29 February 2024 14,329 650 66,750 5,957 87,686
DEPRECIATION
At 1 March 2023 14,208 509 17,399 5,048 37,164
Charge for year 22 60 13,350 230 13,662
At 29 February 2024 14,230 569 30,749 5,278 50,826
NET BOOK VALUE
At 29 February 2024 99 81 36,001 679 36,860
At 28 February 2023 121 141 18,601 909 19,772

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 289,567 270,354
Other debtors 997 504
290,564 270,858

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,154 10,154
Trade creditors 525,282 508,415
Taxation and social security 27,150 69,907
Other creditors 11,442 23,213
574,028 611,689

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,825 23,693

GIBBONS ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04663051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 23,979 33,847

The bank loan is secured by a fixed and floating charge over the undertaking and all property and assets present and future. The Hire Purchase contracts are secured upon the assets to which they relate.

9. CALLED UP SHARE CAPITAL

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