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REGISTERED NUMBER: SC230629 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Stephen Gardiner Construction Limited

Stephen Gardiner Construction Limited (Registered number: SC230629)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Stephen Gardiner Construction Limited (Registered number: SC230629)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 75,000 87,500
Tangible assets 5 215,786 175,202
290,786 262,702

CURRENT ASSETS
Stocks 529,736 142,327
Debtors 6 103,272 130,290
Cash at bank 445,187 396,835
1,078,195 669,452
CREDITORS
Amounts falling due within one year 7 (469,051 ) (359,887 )
NET CURRENT ASSETS 609,144 309,565
TOTAL ASSETS LESS CURRENT
LIABILITIES

899,930

572,267

CREDITORS
Amounts falling due after more than one
year

8

(15,696

)

(28,196

)

PROVISIONS FOR LIABILITIES (28,426 ) (17,543 )
NET ASSETS 855,808 526,528

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 855,804 526,524
855,808 526,528

Stephen Gardiner Construction Limited (Registered number: SC230629)

Balance Sheet - continued
30 June 2024


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

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

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 16 January 2025 and were signed on its behalf by:





Mr R M Bullen - Director


Stephen Gardiner Construction Limited (Registered number: SC230629)

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

1. STATUTORY INFORMATION

Stephen Gardiner Construction Limited is a private company, limited by shares, domiciled in Scotland, registration number SC230629. The registered office is C/O Drummond Laurie Ltd Algo Business Centre, Glenearn Road, Perth, Scotland, PH2 0NJ.

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.

Turnover
Turnover represents net invoiced sales of goods and services in respect of joinery installation, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

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 and depreciation
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 reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


Stephen Gardiner Construction Limited (Registered number: SC230629)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

Stephen Gardiner Construction Limited (Registered number: SC230629)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 125,000
AMORTISATION
At 1 July 2023 37,500
Charge for year 12,500
At 30 June 2024 50,000
NET BOOK VALUE
At 30 June 2024 75,000
At 30 June 2023 87,500

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 90,321 89,083 321,629 21,370 522,403
Additions - 85,108 - - 85,108
At 30 June 2024 90,321 174,191 321,629 21,370 607,511
DEPRECIATION
At 1 July 2023 11,910 86,571 228,869 19,851 347,201
Charge for year 1,569 19,385 23,190 380 44,524
At 30 June 2024 13,479 105,956 252,059 20,231 391,725
NET BOOK VALUE
At 30 June 2024 76,842 68,235 69,570 1,139 215,786
At 30 June 2023 78,411 2,512 92,760 1,519 175,202

Stephen Gardiner Construction Limited (Registered number: SC230629)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 88,832
Transfer to ownership (43,978 )
At 30 June 2024 44,854
DEPRECIATION
At 1 July 2023 31,063
Charge for year 14,441
Transfer to ownership (26,099 )
At 30 June 2024 19,405
NET BOOK VALUE
At 30 June 2024 25,449
At 30 June 2023 57,769

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 101,155 -
Amounts owed by related parties - 45,795
Other debtors 2,117 84,495
103,272 130,290

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 12,502 17,112
Trade creditors 159,243 246,761
Amounts owed to related parties 30,080 -
Taxation and social security 258,999 70,037
Other creditors 8,227 25,977
469,051 359,887

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 15,696 28,196

Stephen Gardiner Construction Limited (Registered number: SC230629)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 28,198 45,308

Amounts due on hire purchase are secured over the individual assets concerned.

10. RELATED PARTY DISCLOSURES

Transactions and balances with entities with common control are as follows:

Sales - £892,776 (2023: £2,157,788)
Amounts owed by related parties - £Nil (2023: £45,795)
Amounts owed to related parties - £30,080 (2024: £Nil)