Company Registration No. NI066190 (Northern Ireland)
Gibson Paving Limited
Unaudited accounts
for the year ended 30 September 2024
Gibson Paving Limited
Statement of financial position
as at 30 September 2024
Tangible assets
669,086
543,746
Inventories
714,715
875,875
Cash at bank and in hand
454,532
258,608
Creditors: amounts falling due within one year
(509,119)
(464,678)
Net current assets
1,008,630
853,123
Net assets
1,677,716
1,396,869
Called up share capital
2
2
Profit and loss account
1,677,714
1,396,867
Shareholders' funds
1,677,716
1,396,869
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by
Frederick Gibson
Director
Company Registration No. NI066190
Gibson Paving Limited
Notes to the Accounts
for the year ended 30 September 2024
Gibson Paving Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI066190. The registered office is 61 Townhill Road, Portglenone, Ballymena, Co. Antrim, BT44 8AG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors believe that the company Gibson Paving Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover comprises the invoice value of construction services supplied by the company, exclusive of trade discounts and value added tax. Revenue from a contract to provide construction services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Straight Line
Fixtures & fittings
20% Reducing Balance
Gibson Paving Limited
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 October 2023
792,213
12,997
805,210
Additions
224,957
975
225,932
Disposals
(38,995)
-
(38,995)
At 30 September 2024
978,175
13,972
992,147
At 1 October 2023
254,280
7,184
261,464
Charge for the year
60,959
638
61,597
At 30 September 2024
315,239
7,822
323,061
At 30 September 2024
662,936
6,150
669,086
At 30 September 2023
537,933
5,813
543,746
Amounts falling due within one year
Trade debtors
238,474
17,472
Amounts due from group undertakings etc.
82,064
127,064
Accrued income and prepayments
-
33,000
Other debtors
27,964
5,782
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
69,907
81,342
Trade creditors
337,226
312,664
Taxes and social security
39,355
6,712
Other creditors
31,335
44,881
Loans from directors
25,951
297
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
8
Average number of employees
During the year the average number of employees was 14 (2023: 16).