Registered number
06388704
Gilbert Eliott Holdings Limited
Filleted Accounts
31 August 2024
Gilbert Eliott Holdings Limited
Registered number: 06388704
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 920 483
Investments 4 1,000 228,360
1,920 228,843
Current assets
Debtors 5 1,009,347 874,888
Cash at bank and in hand 2,502 678
1,011,849 875,566
Creditors: amounts falling due within one year 6 (2,324,376) (2,995,439)
Net current liabilities (1,312,527) (2,119,873)
Net liabilities (1,310,607) (1,891,030)
Capital and reserves
Called up share capital 8,053,608 8,053,608
Share premium 753,623 753,623
Profit and loss account (10,117,838) (10,698,261)
Shareholders' funds (1,310,607) (1,891,030)
The director is 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 director acknowledges his 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.
R Holgate
Director
Approved by the board on 13 February 2025
Gilbert Eliott Holdings Limited
Notes to the Accounts
for the year ended 31 August 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).
Going Concern
The financial statements are prepared on the basis that the fundamental concept of going concern is applied. The principal factors in this consideration are the continued support of the company's creditors and the achievement of projected income streams. The director considered that the going concern concept continues to be appropriate and this has therefore been applied. If the going concern basis proves not to be appropriate, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amount and to provide for any further liabilities that might arise.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 7,558
Additions 1,227
At 31 August 2024 8,785
Depreciation
At 1 September 2023 7,075
Charge for the year 790
At 31 August 2024 7,865
Net book value
At 31 August 2024 920
At 31 August 2023 483
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost or Fair value
At 1 September 2023 1,000 227,360 228,360
Additions - 20,000 20,000
Revaluation - (247,360) (247,360)
At 31 August 2024 1,000 - 1,000
Historical cost
At 1 September 2023 - 248,547
At 31 August 2024 - 268,547
The company holds 20% or more of the share capital of the following companies:
Capital and Profit /(Loss)
Company Shares held reserves for the period
Class % £ £
Gilbert Eliott Consultancy Ltd. Ordinary 100 (19,506) -
Other Investments
The shares in Locosoco Group plc were revalued by the Director on 31 August 2024, as the shares are now no longer quoted on the Weiner Borse and is loss making they are considered to have no current value. The shares in Cleantech Building Materials plc were revalued by the Director on 31 August 2024, as the shares are now no longer quoted on the Nasdaq First North Growth Market from November 2023 they are considered to have no current value.
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,360 2,360
Other debtors 1,006,987 872,528
1,009,347 874,888
6 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares 12,500 12,500
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2,054 586,107
Other creditors 2,309,822 2,396,832
2,324,376 2,995,439
7 Other information
Gilbert Eliott Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
85 Great Portland Street
London
W1W 7LT
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