Registered number
08130206
E Gildea Contractors Limited
Unaudited Filleted Accounts
31 July 2024
E Gildea Contractors Limited
Registered number: 08130206
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 541,402 249,930
Current assets
Debtors 4 22,931 39,647
Cash at bank and in hand 107,489 83,201
130,420 122,848
Creditors: amounts falling due within one year 5 (293,477) (207,151)
Net current liabilities (163,057) (84,303)
Total assets less current liabilities 378,345 165,627
Creditors: amounts falling due after more than one year 6 (332,816) (128,301)
Provisions for liabilities (44,000) (36,000)
Net assets 1,529 1,326
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,429 1,226
Shareholders' funds 1,529 1,326
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.
C A Gildea
Director
Approved by the board on 17 January 2025
E Gildea Contractors Limited
Notes to the Accounts
for the year ended 31 July 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 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:
Motor vehicles 25% reducing balance basis
Plant and machinery 15% straight line basis
Computers 33% straight line basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 343,684 69,374 413,058
Additions 402,053 7,233 409,286
At 31 July 2024 745,737 76,607 822,344
Depreciation
At 1 August 2023 144,684 18,444 163,128
Charge for the year 103,273 14,541 117,814
At 31 July 2024 247,957 32,985 280,942
Net book value
At 31 July 2024 497,780 43,622 541,402
At 31 July 2023 199,000 50,930 249,930
4 Debtors 2024 2023
£ £
Trade debtors 16,553 37,090
Other debtors 6,378 2,557
22,931 39,647
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,916 3,868
Obligations under finance lease and hire purchase contracts 129,633 58,434
Trade creditors 624 -
Taxation and social security costs 1,042 5,116
Other creditors 158,262 139,733
293,477 207,151
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,749 10,798
Obligations under finance lease and hire purchase contracts 326,067 117,503
332,816 128,301
7 Other information
E Gildea Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is:
6A Little Aston Lane
Little Aston
Sutton Coldfield
B74 3UF
E Gildea Contractors Limited 08130206 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 C A Gildea No description of principal activity 08130206 2022-08-01 2023-07-31 08130206 core:WithinOneYear 2023-07-31 08130206 core:AfterOneYear 2023-07-31 08130206 core:ShareCapital 2023-07-31 08130206 core:RetainedEarningsAccumulatedLosses 2023-07-31 08130206 2023-08-01 2024-07-31 08130206 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08130206 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08130206 bus:Director40 2023-08-01 2024-07-31 08130206 1 2023-08-01 2024-07-31 08130206 2 2023-08-01 2024-07-31 08130206 core:PlantMachinery 2023-08-01 2024-07-31 08130206 core:Vehicles 2023-08-01 2024-07-31 08130206 countries:England 2023-08-01 2024-07-31 08130206 bus:FRS102 2023-08-01 2024-07-31 08130206 bus:FilletedAccounts 2023-08-01 2024-07-31 08130206 2024-07-31 08130206 core:WithinOneYear 2024-07-31 08130206 core:AfterOneYear 2024-07-31 08130206 core:ShareCapital 2024-07-31 08130206 core:RetainedEarningsAccumulatedLosses 2024-07-31 08130206 core:PlantMachinery 2024-07-31 08130206 core:Vehicles 2024-07-31 08130206 2023-07-31 08130206 core:PlantMachinery 2023-07-31 08130206 core:Vehicles 2023-07-31 iso4217:GBP xbrli:pure