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Company Registration No. 13029615 (England and Wales)
Gilbert Brothers Construction Limited Unaudited accounts for the year ended 30 November 2024
Gilbert Brothers Construction Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Gilbert Brothers Construction Limited Company Information for the year ended 30 November 2024
Directors
Robert Gilbert Peter Gilbert Nicola Gilbert Terri Gilbert
Company Number
13029615 (England and Wales)
Registered Office
6 Coswinsawsin Lane Carnhell Green Camborne Cornwall TR14 0LW
Accountants
Ashored 1 Chellew Road Truro Cornwall TR1 1LR
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Gilbert Brothers Construction Limited Statement of financial position as at 30 November 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
46,470
58,108
Current assets
Inventories
645,586
382,940
Debtors
5
8,560
10,149
Cash at bank and in hand
21,149
158,946
675,295
552,035
Creditors: amounts falling due within one year
6
(264,973)
(145,797)
Net current assets
410,322
406,238
Total assets less current liabilities
456,792
464,346
Creditors: amounts falling due after more than one year
7
(679,959)
(531,836)
Net liabilities
(223,167)
(67,490)
Capital and reserves
Called up share capital
4
4
Profit and loss account
(223,171)
(67,494)
Shareholders' funds
(223,167)
(67,490)
For the year ending 30 November 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 12 September 2025 and were signed on its behalf by
Robert Gilbert Director Company Registration No. 13029615
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Gilbert Brothers Construction Limited Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Gilbert Brothers Construction Limited is a private company, limited by shares, registered in England and Wales, registration number 13029615. The registered office is 6 Coswinsawsin Lane, Carnhell Green, Camborne, Cornwall, TR14 0LW.
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.
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% Reducing Balance
Computer equipment
25% Straight Line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Going concern
The financial statements have been prepared on a going concern basis notwithstanding that at 30 November 2024 the company had net liabilities of £223,027. The company's continuation as a going concern is dependent upon the continued support of the company's directors and shareholders and its ability to generate trading profits from operations in the succeeding period in order to meet its obligations as they fall due. The directors consider it is appropriate to prepare the financial statements on a going concern basis as they undertake to continue to provide financial and other support as necessary to the company.
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Gilbert Brothers Construction Limited Notes to the Accounts for the year ended 30 November 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 December 2023
14,716
67,111
78
81,905
At 30 November 2024
14,716
67,111
78
81,905
Depreciation
At 1 December 2023
3,884
19,856
57
23,797
Charge for the year
2,167
9,451
20
11,638
At 30 November 2024
6,051
29,307
77
35,435
Net book value
At 30 November 2024
8,665
37,804
1
46,470
At 30 November 2023
10,832
47,255
21
58,108
5
Debtors
2024
2023
£
£
Amounts falling due within one year
VAT
4,136
8,620
Accrued income and prepayments
924
1,529
Other debtors
3,500
-
8,560
10,149
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,488
-
VAT
-
968
Trade creditors
18,555
24,993
Taxes and social security
52
5,284
Other creditors
199,000
99,998
Loans from directors
42,128
13,804
Accruals
750
750
264,973
145,797
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Loans from directors
679,959
531,836
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Gilbert Brothers Construction Limited Notes to the Accounts for the year ended 30 November 2024
8
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
Robert Gilbert
Mr R Gilbert
(166,177)
(32,486)
-
(198,663)
Peter Gilbert
Mr P Gilbert
(290,174)
(62,766)
-
(352,940)
Nicola Gilbert
Mrs N Gilbert
(32,311)
(21,805)
-
(54,116)
Terri Gilbert
Mrs T Gilbert
(43,174)
(31,066)
-
(74,240)
(531,836)
(148,123)
-
(679,959)
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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