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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
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
669,086 
543,746 
Current assets
Inventories
714,715 
875,875 
Debtors
348,502 
183,318 
Cash at bank and in hand
454,532 
258,608 
1,517,749 
1,317,801 
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 
Capital and reserves
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
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Gibson Paving Limited Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
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
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
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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 
Depreciation
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 
Net book value
At 30 September 2024
662,936 
6,150 
669,086 
At 30 September 2023
537,933 
5,813 
543,746 
5
Debtors
2024 
2023 
£ 
£ 
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 
348,502 
183,318 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
16,782 
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 
Accruals
5,345 
2,000 
509,119 
464,678 
7
Share capital
2024 
2023 
£ 
£ 
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).
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