REGISTERED NUMBER: 01188773 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

INGHAM & GARNER LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D Garner

Mr C D Garner

Mrs J A Burrows

Mr R A Burrows

REGISTERED OFFICE:

8 Sinclair Way

Prescot Business Park

Prescot

Merseyside

L34 1QL

REGISTERED NUMBER:

01188773 (England and Wales)

ACCOUNTANTS:

Livesey Spottiswood Ltd

Chartered Accountants

17 George Street

St Helens

Merseyside

WA10 1DB

FIXED ASSETS

Tangible assets

4

253,858

247,748

Investment property

5

581,950

581,950

835,808

829,698

CURRENT ASSETS

Debtors

1,339,275

1,211,936

Investments

671,219

634,676

Cash at bank and in hand

402,557

1,045,188

2,413,051

2,891,800

CREDITORS

Amounts falling due within one year

(415,749

)

(457,655

)

NET CURRENT ASSETS

1,997,302

2,434,145

TOTAL ASSETS LESS CURRENT LIABILITIES

2,833,110

3,263,843

PROVISIONS FOR LIABILITIES

7

(124,019

)

(122,536

)

NET ASSETS

2,709,091

3,141,307

CAPITAL AND RESERVES

Called up share capital

8

5,000

10,000

Property revaluation reserve

9

520,460

520,460

Capital redemption reserve

9

5,000

-

Unrealised investment gains reserve

9

154,721

118,178

Retained earnings

9

2,023,910

2,492,669

SHAREHOLDERS' FUNDS

2,709,091

3,141,307

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

Mrs J A Burrows - Director

1.	STATUTORY INFORMATION

Ingham & Garner 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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Significant judgements and key sources of estimation uncertainty

In the application of the company's accounting policies as set out below, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Management consider that the following have the most significant effect on the amounts recognised in the financial statements:

Financial outcome of individual contracts - All long term contracts are reviewed on a monthly basis, with particular attention to contract stage of completion, costs to date and costs still to be incurred. Movement in margin is recognised when prudent to do so but immediately in the event there is a foreseeable loss.

Valuation of investment property - Investment properties are valued at the end of each reporting period by the directors at open market value.

Turnover

Turnover is entirely in respect of construction contracts and is measured at the fair value of the consideration received or receivable net of VAT and discounts.

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is calculated using the percentage completion method. Amounts recoverable on these long-terms contracts are included within debtors. Payments on account in respect of long-term contracts are included within creditors.

Where the outcome cannot be measured reliably, the work in progress is valued at cost less payments on account. Cost includes all direct costs plus an appropriate amount of attributable overhead.

When contract costs are expected to exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

The recognition of retentions is usually deferred until their receipt becomes virtually certain.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets except freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Improvements to property

- 2% Straight line

Plant and machinery

- 15% on reducing balance

Fixtures and fittings

- 15% on reducing balance

Motor vehicles

- 25% on reducing balance

Computer equipment

- Straight line over 3 years

Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

Investment property

Investment properties are initially recognised at cost. Cost includes the purchase price and any legal and professional fees in connection with the acquisition of the property.

At each reporting date, the properties are valued at fair value through profit and loss.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

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.

Employee benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Grants

Revenue grants are included in the profit and loss account in the period to which they relate.

Current asset investments

Current asset investments are a basic financial instrument and are initially recognised at cost and subsequently at fair value through profit and loss. Deferred tax is recognised in respect of unrealised gains on current asset investments.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

450,977

Additions

31,917

Disposals

(16,007

)

At 31 December 2024

466,887

DEPRECIATION

At 1 January 2024

203,229

Charge for year

24,630

Eliminated on disposal

(14,830

)

At 31 December 2024

213,029

NET BOOK VALUE

At 31 December 2024

253,858

At 31 December 2023

247,748

The historical cost of freehold land amounts to £32,368.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

581,950

NET BOOK VALUE

At 31 December 2024

581,950

At 31 December 2023

581,950

The investment properties were valued at 31 December 2024 at the director's best estimate of the fair value of the properties on an open market basis.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2009

350,952

Valuation in 2021

85,649

Valuation in 2022

56,450

Cost

88,899

581,950

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

600

600

Between one and five years

350

950

950

1,550

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

On accelerated capital allowances

25,920

24,437

On revalued property

90,220

90,220

On unrealised investment gains

7,879

7,879

124,019

122,536

Deferred

tax

£

Balance at 1 January 2024

122,536

Movement in year

1,483

Balance at 31 December 2024

124,019

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

5,000

Ordinary

£1

5,000

10,000

(2023 - 10,000 )

During the year the company bought back 5,000 £1 shares.

9.

RESERVES

Unrealised

Property

Capital

investment

Retained

revaluation

redemption

gains

earnings

reserve

reserve

reserve

Totals

£

£

£

£

£

At 1 January 2024

2,492,669

520,460

-

118,178

3,131,307

Profit for the year

351,095

-

-

-

351,095

Purchase of own shares

(783,311

)

-

5,000

-

(778,311

)

Transfer for movement in fair value of investments

(36,543

)

-

-

36,543

-

At 31 December 2024

2,023,910

520,460

5,000

154,721

2,704,091

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr D Garner

Balance outstanding at start of year

9,624

27,259

Amounts advanced

-

365

Amounts repaid

(9,426

)

(18,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

198

9,624

Mrs J A Burrows

Balance outstanding at start of year

17,990

22,982

Amounts advanced

-

1,008

Amounts repaid

(7,850

)

(6,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,140

17,990

The note above summarises the net transactions on the directors' current account during the year. Interest has been charged using HM Revenue & Customs rates.

11.	RELATED PARTY DISCLOSURES

At the previous year end, a balance was due to the company from EFT Systems Limited of £12,039. EFT Systems Limited was a company in which the former 50% shareholder, Mrs H.Ingham, had a material interest.