Company Registration No. 06398311 (England and Wales)
GEORGE BROS (BUILDERS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
GEORGE BROS (BUILDERS) LIMITED
COMPANY INFORMATION
Directors
Mr M T Davies
Mr P A Boyland
Mr O Beale
Company number
06398311
Registered office
Holway Green
Taunton
Somerset
TA1 2YJ
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
GEORGE BROS (BUILDERS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
GEORGE BROS (BUILDERS) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
19,770
24,487
Current assets
Stocks
53,480
39,979
Debtors
5
130,478
202,651
Cash at bank and in hand
284,942
239,627
468,900
482,257
Creditors: amounts falling due within one year
6
(154,394)
(176,921)
Net current assets
314,506
305,336
Total assets less current liabilities
334,276
329,823
Creditors: amounts falling due after more than one year
7
(11,198)
(15,997)
Net assets
323,078
313,826
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
323,077
313,825
Total equity
323,078
313,826

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

GEORGE BROS (BUILDERS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 February 2025 and are signed on its behalf by:
Mr M T Davies
Director
Company Registration No. 06398311
GEORGE BROS (BUILDERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

George Bros (Builders) Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Tools and equipment
25% reducing balance
Plant and machinery
10% reducing balance
Fixtures, fittings & equipment
10% reducing balance
Computer equipment
3 years straight line
Motor vehicles
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks and work in progress is valued at the lower of cost and net realisable value.

GEORGE BROS (BUILDERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account on a straight line basis over the life of the lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 9 (2023 - 12).

GEORGE BROS (BUILDERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
228,944
Amortisation and impairment
At 1 July 2023 and 30 June 2024
228,944
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
-
0
GEORGE BROS (BUILDERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Tangible fixed assets
Tools and equipment
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 July 2023 and 30 June 2024
10,786
6,323
2,013
28,881
44,838
92,841
Depreciation and impairment
At 1 July 2023
10,602
4,724
1,708
28,881
22,440
68,355
Depreciation charged in the year
46
160
30
-
0
4,480
4,716
At 30 June 2024
10,648
4,884
1,738
28,881
26,920
73,071
Carrying amount
At 30 June 2024
138
1,439
275
-
0
17,918
19,770
At 30 June 2023
185
1,599
305
-
0
22,398
24,487
GEORGE BROS (BUILDERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
114,513
29,877
Corporation tax recoverable
-
0
6,014
Other debtors
289
151,809
Prepayments and accrued income
15,676
14,951
130,478
202,651
6
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
4,799
4,799
Trade creditors
107,333
88,851
Other taxation and social security
30,858
70,534
Other creditors
883
361
Accruals and deferred income
10,521
12,376
154,394
176,921
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
11,198
15,997
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary shares of £1 each
1
1
9
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Mr M T Davies -
2.00
151,521
(151,521)
-
151,521
(151,521)
-
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