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REGISTERED NUMBER: SC122471 (Scotland)















Financial Statements for the Year Ended 30 April 2024

for

George Hanson (Building Contractors)
Limited

George Hanson (Building Contractors)
Limited (Registered number: SC122471)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


George Hanson (Building Contractors)
Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: G Hanson
Mrs D Hanson





SECRETARY: Mrs D Hanson





REGISTERED OFFICE: 20 Union Street
Rothesay
Isle of Bute
PA20 0HD





REGISTERED NUMBER: SC122471 (Scotland)





ACCOUNTANTS: Graham & Co. (Accountants) Limited
Chartered Accountants
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG

George Hanson (Building Contractors)
Limited (Registered number: SC122471)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 629,046 695,810
Investment property 6 1,961,386 2,026,846
2,590,432 2,722,656

CURRENT ASSETS
Stocks 1,016,972 1,025,938
Debtors 7 370,960 374,330
Cash at bank 2,997,033 2,528,129
4,384,965 3,928,397
CREDITORS
Amounts falling due within one year 8 439,356 397,421
NET CURRENT ASSETS 3,945,609 3,530,976
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,536,041

6,253,632

PROVISIONS FOR LIABILITIES 149,183 164,064
NET ASSETS 6,386,858 6,089,568

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 6,385,858 6,088,568
SHAREHOLDERS' FUNDS 6,386,858 6,089,568

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

George Hanson (Building Contractors)
Limited (Registered number: SC122471)

Balance Sheet - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





G Hanson - Director


George Hanson (Building Contractors)
Limited (Registered number: SC122471)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

George Hanson (Building Contractors) 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Freehold property - 2% on cost
Plant and machinery - 20% on cost and 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are included in the balance sheet at fair value in accordance with FRS 102 (Section 1A) and are not depreciated.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


George Hanson (Building Contractors)
Limited (Registered number: SC122471)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Long term contracts
Long term contract work in progress is shown at net cost after deducting foreseeable losses and payments on account. Turnover on long term contracts is determined on the basis of sales invoices raised representing measured work on contracts. Operating profit includes attributable profit on long term contracts complete and amounts recoverable on contracts incomplete,the latter also being included under debtors due within one year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 31 ) .

George Hanson (Building Contractors)
Limited (Registered number: SC122471)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 40,000
AMORTISATION
At 1 May 2023
and 30 April 2024 40,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 May 2023 362,029 879,127 288,657 1,529,813
Additions - 26,650 30,735 57,385
Disposals - - (29,546 ) (29,546 )
At 30 April 2024 362,029 905,777 289,846 1,557,652
DEPRECIATION
At 1 May 2023 106,818 562,956 164,229 834,003
Charge for year 7,240 64,606 36,914 108,760
Eliminated on disposal - - (14,157 ) (14,157 )
At 30 April 2024 114,058 627,562 186,986 928,606
NET BOOK VALUE
At 30 April 2024 247,971 278,215 102,860 629,046
At 30 April 2023 255,211 316,171 124,428 695,810

George Hanson (Building Contractors)
Limited (Registered number: SC122471)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2023
and 30 April 2024 80,650
DEPRECIATION
At 1 May 2023 29,881
Charge for year 10,154
At 30 April 2024 40,035
NET BOOK VALUE
At 30 April 2024 40,615
At 30 April 2023 50,769

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 2,026,846
Disposals (65,460 )
At 30 April 2024 1,961,386
NET BOOK VALUE
At 30 April 2024 1,961,386
At 30 April 2023 2,026,846

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 390,000
Cost 1,571,386
1,961,386

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 337,516 340,680
Other debtors 33,444 33,650
370,960 374,330

George Hanson (Building Contractors)
Limited (Registered number: SC122471)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts - 1,667
Trade creditors 125,437 144,696
Taxation and social security 241,682 159,526
Other creditors 72,237 91,532
439,356 397,421

9. ULTIMATE CONTROLLING PARTY

The directors, George and Davina Hanson, are the ultimate controlling parties by virtue of their combined shareholding of 100%.