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REGISTERED NUMBER: 05406484 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

GIBBS TIMBER FRAME LIMITED

GIBBS TIMBER FRAME LIMITED (REGISTERED NUMBER: 05406484)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


GIBBS TIMBER FRAME LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTOR: A Gibbs





SECRETARY:





REGISTERED OFFICE: Coleman's Farm
Coleman's Lane
Porchfield
Newport
Isle of Wight
PO33 4LX





REGISTERED NUMBER: 05406484 (England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

GIBBS TIMBER FRAME LIMITED (REGISTERED NUMBER: 05406484)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 215,821 231,636
Investments 5 3,158 3,158
218,979 234,794

CURRENT ASSETS
Stocks 143,619 44,182
Debtors 6 1,239,009 1,252,275
Cash at bank 304 75,753
1,382,932 1,372,210
CREDITORS
Amounts falling due within one year 7 870,999 734,779
NET CURRENT ASSETS 511,933 637,431
TOTAL ASSETS LESS CURRENT LIABILITIES 730,912 872,225

CREDITORS
Amounts falling due after more than one
year

8

85,391

170,610
NET ASSETS 645,521 701,615

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 644,521 700,615
645,521 701,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GIBBS TIMBER FRAME LIMITED (REGISTERED NUMBER: 05406484)

BALANCE SHEET - continued
31 MARCH 2025


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 director and authorised for issue on 8 June 2025 and were signed by:





A Gibbs - Director


GIBBS TIMBER FRAME LIMITED (REGISTERED NUMBER: 05406484)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

Gibbs Timber Frame Limited is a private company, limited by shares , registered in England and Wales. 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 5 years
Plant and machinery etc - 25% on reducing balance and Straight line over 4 years

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

GIBBS TIMBER FRAME LIMITED (REGISTERED NUMBER: 05406484)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2024 - 28 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2024 539,677 1,027,822 1,567,499
Additions - 58,295 58,295
Disposals - (2,000 ) (2,000 )
At 31 March 2025 539,677 1,084,117 1,623,794
DEPRECIATION
At 1 April 2024 539,677 796,186 1,335,863
Charge for year - 72,110 72,110
At 31 March 2025 539,677 868,296 1,407,973
NET BOOK VALUE
At 31 March 2025 - 215,821 215,821
At 31 March 2024 - 231,636 231,636

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2024
and 31 March 2025 3,158
NET BOOK VALUE
At 31 March 2025 3,158
At 31 March 2024 3,158

GIBBS TIMBER FRAME LIMITED (REGISTERED NUMBER: 05406484)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 824,403 564,955
Other debtors 414,606 687,320
1,239,009 1,252,275

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 16,166 -
Hire purchase contracts 31,123 31,123
Payments on account 31,030 99,133
Trade creditors 458,832 263,493
Taxation and social security 191,600 310,116
Other creditors 142,248 30,914
870,999 734,779

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 39,375 94,605
Hire purchase contracts 46,016 76,005
85,391 170,610

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
A Gibbs
Balance outstanding at start of year 298,808 (71,150 )
Amounts advanced 831 369,958
Amounts repaid (396,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (96,361 ) 298,808