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Company registration number: 4918926
Gilbert Birdsall Limited
Pages for filing with Registrar
31 October 2024
Gilbert Birdsall Limited
Contents
Statement of financial position
Notes to the financial statements
Gilbert Birdsall Limited
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 966,716 927,631
_______ _______
966,716 927,631
Current assets
Stocks 33,919 96,530
Debtors 6 783,563 985,009
Investments 7 943,728 750,693
Cash at bank and in hand 633,987 356,923
_______ _______
2,395,197 2,189,155
Creditors: amounts falling due
within one year 8 ( 735,250) ( 772,737)
_______ _______
Net current assets 1,659,947 1,416,418
_______ _______
Total assets less current liabilities 2,626,663 2,344,049
Creditors: amounts falling due
after more than one year 9 - ( 29,560)
Provisions for liabilities 10 ( 163,685) ( 152,764)
_______ _______
Net assets 2,462,978 2,161,725
_______ _______
Capital and reserves
Called up share capital 103 103
Profit and loss account 2,462,875 2,161,622
_______ _______
Shareholders funds 2,462,978 2,161,725
_______ _______
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 May 2025 , and are signed on behalf of the board by:
Mr George Gilbert Birdsall
Director
Company registration number: 4918926
Gilbert Birdsall Limited
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is South Farm, South Road, Belford, Northumberland, NE70 7DP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Tractors - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Hire purchase and finance leases
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 21 (2023: 21 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Tractors Total
£ £ £ £ £ £
Cost
At 1 November 2023 239,949 1,835,578 42,229 529,230 124,159 2,771,145
Additions - 22,400 891 243,250 - 266,541
_______ _______ _______ _______ _______ _______
At 31 October 2024 239,949 1,857,978 43,120 772,480 124,159 3,037,686
_______ _______ _______ _______ _______ _______
Depreciation
At 1 November 2023 - 1,491,469 28,722 277,259 46,064 1,843,514
Charge for the year - 81,967 2,160 123,805 19,524 227,456
_______ _______ _______ _______ _______ _______
At 31 October 2024 - 1,573,436 30,882 401,064 65,588 2,070,970
_______ _______ _______ _______ _______ _______
Carrying amount
At 31 October 2024 239,949 284,542 12,238 371,416 58,571 966,716
_______ _______ _______ _______ _______ _______
At 31 October 2023 239,949 344,109 13,507 251,971 78,095 927,631
_______ _______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 733,144 933,512
Other debtors 50,419 51,497
_______ _______
783,563 985,009
_______ _______
7. Investments
2024 2023
£ £
Other investments 943,728 750,693
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 327,457 366,416
Corporation tax 108,505 52,243
Social security and other taxes 38,305 63,986
Other creditors 260,983 290,092
_______ _______
735,250 772,737
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors - 29,560
_______ _______
10. Provisions
Deferred tax (note ) Total
£ £
At 1 November 2023 152,764 152,764
Additions 10,921 10,921
_______ _______
At 31 October 2024 163,685 163,685
_______ _______
11. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr George Gilbert Birdsall 47,514 75,397 ( 83,501) 39,410
Mr Steven Birdsall ( 17,241) 72,267 ( 50,000) 5,026
_______ _______ _______ _______
30,273 147,664 ( 133,501) 44,436
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr George Gilbert Birdsall 53,832 85,883 ( 92,201) 47,514
Mr Steven Birdsall ( 12,282) 46,541 ( 51,500) ( 17,241)
_______ _______ _______ _______
41,550 132,424 ( 143,701) 30,273
_______ _______ _______ _______
The loan is interest free and repayable on demand.
12. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
Gilbert Birdsall Trading Limited - 30,000 ( 197,132) ( 197,132)
_______ _______ _______ _______
Amount falling due within one year, is an amount of £197,132 due to Gilbert Birdsall Trading Limited a Company in which the Director Mr G Gilbert is a shareholder and director.
13. Controlling party
The company is controlled by the directors.