Giffords Equipment Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: 10188530

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,502,044		1,532,677
Investments	5		1,350,000		1,350,000

			2,852,044		2,882,677
CURRENT ASSETS
Debtors	6	482,495		1,461,750
Cash at bank and in hand		479,574		427,889

		962,069		1,889,639
Creditors: Amounts Falling Due Within One Year	7	(300,504 )		(264,711 )

NET CURRENT ASSETS (LIABILITIES)			661,565		1,624,928

TOTAL ASSETS LESS CURRENT LIABILITIES			3,513,609		4,507,605

Creditors: Amounts Falling Due After More Than One Year	8		(516,052 )		(510,027 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(375,511 )		(383,000 )

NET ASSETS			2,622,046		3,614,578

CAPITAL AND RESERVES
Called up share capital	10		1,100,000		1,100,000
Capital redemption reserve			250,000		250,000
Income Statement			1,272,046		2,264,578

SHAREHOLDERS' FUNDS			2,622,046		3,614,578

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Giffords Equipment Limited

Statement of Financial Position (continued)

As At 31 December 2024

For the year ending 31 December 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr E B Hilton Director	Mr J J Poynton Director
23/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Giffords Equipment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10188530 . The registered office is Brandon Way, West Bromwich , West Midlands , B70 8JN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

2.2. Turnover

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

2.3. Tangible Fixed Assets and Depreciation

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant & Machinery	20% and 25% Reducing balance
Motor Vehicles	20% and 25% Reducing balance
Fixtures & Fittings	20% Reducing balance
Computer Equipment	25% Reducing balance

2.4. Leasing and Hire Purchase Contracts

Rentals payments under operating leases are charged to the profit and loss account in the period in which they are incurred.

Where assets are financed by leasing or hire purchase agreements which give risks and rewards approximating to ownership they are treated as if they had been purchased outright on credit. They are therefore initially recorded as a fixed asset and a liability, at a sum equal to the fair value of the asset. Payments on such assets are regarded as consisting of a capital element which reduces the outstanding liability and an interest element which is charged to the profit and loss account.

2.5. Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

2.6. Valuation of Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 1)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	1,768,876	952,278	347,500	81,827	3,150,481
Additions	271,523	20,500	1,696	20,905	314,624
Disposals	(26,445 )	(12,951 )	-	-	(39,396 )

As at 31 December 2024	2,013,954	959,827	349,196	102,732	3,425,709

Depreciation
As at 1 January 2024	886,992	698,276	11,583	20,953	1,617,804

...CONTINUED

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Giffords Equipment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Provided during the period	184,108	66,911	67,268	16,633	334,920
Disposals	(17,806 )	(11,253 )	-	-	(29,059 )

As at 31 December 2024	1,053,294	753,934	78,851	37,586	1,923,665

Net Book Value
As at 31 December 2024	960,660	205,893	270,345	65,146	1,502,044

As at 1 January 2024	881,884	254,002	335,917	60,874	1,532,677

The net book value of assets held under finance lease or hire purchase contracts is £893,186 (2023 £855,253).

5. Investments

	Unlisted
	£
Cost
As at 1 January 2024	1,350,000

As at 31 December 2024	1,350,000

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	1,350,000

As at 1 January 2024	1,350,000

Giffords Recycling Limited, is a subsidiary company and is incorporated in Great Britain. Giffords Equipment Limited holds 100% of shares in Giffords Recycling Limited.

6. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	482,495	1,461,750

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	243,975	222,084
Amounts owed to group undertakings	13,511	13,511
Other creditors	4,150	4,100
Taxation and social security	38,868	25,016

	300,504	264,711

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	516,052	510,027

Hire purchase accounts amount to £760,027 are secured by a charge on specific assets with a net book value of £893,186.

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Giffords Equipment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	243,975	222,084
Later than one year and not later than five years	516,052	510,027

	760,027	732,111

	760,027	732,111

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1,100,000	1,100,000

11. Post Balance Sheet Events

As at the Balance Sheet date, the Company and its associated companies were in the process of changing ownership. This was completed on 7th March 2025.

12. Related Party Transactions

As at the Balance Sheet date, Giffords Equipment Limited was controlled by Mr R D Gifford, who also controlled another Company Giffords Commercial Land Limited. At 31 December 2024, Giffords Equipment Limited is owed £364,010 by Giffords Commercial Land Limited. No interest is charged on this loan.

Giffords Equipment Limited is also party to guaranteeing the bank loans for Giffords Commercial Land Limited to a maximum value of £5,825,000.

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