| Gibbs Surfacing (Northern) Limited |
| Registered number: |
13940764 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 31 August 2025. |
|
| Principal activities |
The company’s principal activity during the year continued to be surfacing contracting. The Directors are pleased to report an improvement in the Company's financial performance and strengthening of its balance sheet. As a result, turnover and profitability has increased year on year (£413,227 pretax profit vis a vis £383,022 in the last financial year).
The Company continues to enjoy a large volume of repeat work from its customer base which is testament to both the quality of work and service delivered, as well as underscoring the strength of all relationships that have been built in the period since trading began in April 2022.
The ongoing support of supply chain partners along with substantial investment in new plant, equipment and employee training, positions the Company positively to capitalise on current and future market opportunities.
Significant progress has been made in expanding its trading footprint to all areas of the construction marketplace, including actively in tendering for Local Authority annual contract works and tier one national construction companies.
Additionally, the Company has now achieved accreditations in ISO 9001, ISO 14001 & ISO 45001 and NHSS Sector 16 accreditation for working on UK Highways. These will further improve tendering opportunities in the marketplace.
The Directors can expect, barring any unforeseen headwinds, that the Company will improve profitability for the full year to 31/08/26 together with a further strengthening of its balance sheet. This will position the Company to expand the scope of its operations through 2026.
|
|
|
| Directors |
| The following persons served as directors during the year: |
|
|
Mr V Gibbs |
|
Mr C Philbin |
|
Mr C Daly |
|
Ms V Gibbs |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 5 November 2025 and signed on its behalf. |
|
|
|
| Mr C Daly |
| Director |
|
| Gibbs Surfacing (Northern) Limited |
|
| Report to the directors on the preparation of the unaudited statutory accounts of Gibbs Surfacing (Northern) Limited for the year ended 31 August 2025 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gibbs Surfacing (Northern) Limited for the year ended 31 August 2025 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/ |
| Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
| Roberts, Emery and Co Ltd |
| Chartered Certified Accountant |
| 13 Clinton Place |
| Liverpool |
| L12 7HB |
|
| 5 November 2025 |
|
| Gibbs Surfacing (Northern) Limited |
| Registered number: |
13940764 |
| Balance Sheet |
| as at 31 August 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
639,062 |
|
|
438,704 |
|
| Current assets |
| Stocks |
|
|
20,137 |
|
|
7,335 |
| Debtors |
4 |
|
1,461,748 |
|
|
1,295,485 |
| Cash at bank and in hand |
|
|
665,835 |
|
|
306,535 |
|
|
|
2,147,720 |
|
|
1,609,355 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,325,942) |
|
|
(973,104) |
|
| Net current assets |
|
|
|
821,778 |
|
|
636,251 |
|
| Total assets less current liabilities |
|
|
|
1,460,840 |
|
|
1,074,955 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(545,136) |
|
|
(570,984) |
|
| Provisions for liabilities |
8 |
|
|
(167,063) |
|
|
(127,983) |
|
|
| Net assets |
|
|
|
748,641 |
|
|
375,988 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
| Revaluation reserve |
7 |
|
|
97,580 |
|
|
26,771 |
| Profit and loss account |
|
|
|
650,061 |
|
|
348,217 |
|
| Shareholders' funds |
|
|
|
748,641 |
|
|
375,988 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr C Daly |
| Director |
| Approved by the board on 5 November 2025 |
|
| Gibbs Surfacing (Northern) Limited |
| Notes to the Accounts |
| for the year ended 31 August 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
|
Asset class |
Depreciation method and rate |
|
Motor vehicles |
15% reducing balance |
|
Plant and machinery |
15% reducing balance |
|
Office equipment |
33% straight line |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Defined contribution pension oligation |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
31 |
|
25 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 September 2024 |
406,707 |
|
166,414 |
|
573,121 |
|
Additions |
175,991 |
|
55,885 |
|
231,876 |
|
Revaluation |
66,987 |
|
3,822 |
|
70,809 |
|
At 31 August 2025 |
649,685 |
|
226,121 |
|
875,806 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2024 |
91,505 |
|
42,912 |
|
134,417 |
|
Charge for the year |
75,419 |
|
26,908 |
|
102,327 |
|
At 31 August 2025 |
166,924 |
|
69,820 |
|
236,744 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2025 |
482,761 |
|
156,301 |
|
639,062 |
|
At 31 August 2024 |
315,202 |
|
123,502 |
|
438,704 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
1,385,965 |
|
1,139,052 |
|
VAT |
|
|
|
|
54,869 |
|
144,174 |
|
Prepayments |
|
|
|
|
20,914 |
|
12,009 |
|
Other debtors |
- |
|
250 |
|
|
|
|
|
|
1,461,748 |
|
1,295,485 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
124,180 |
|
102,916 |
|
Trade creditors |
1,006,173 |
|
726,820 |
|
Taxation and social security costs |
114,501 |
|
31,825 |
|
Directors loan account |
50,880 |
|
103,130 |
|
Accruals |
26,918 |
|
4,271 |
|
Other creditors |
3,290 |
|
4,142 |
|
|
|
|
|
|
1,325,942 |
|
973,104 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
185,002 |
|
173,134 |
|
Other creditors |
360,134 |
|
397,850 |
|
|
|
|
|
|
545,136 |
|
570,984 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Revaluation reserve |
2025 |
|
2024 |
| £ |
£ |
|
At 1 September 2024 |
26,771 |
|
- |
|
Gain on revaluation of fixed assets |
70,809 |
|
26,771 |
|
|
At 31 August 2025 |
97,580 |
|
26,771 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Provisions |
2025 |
|
2024 |
| £ |
£ |
|
|
Provision for doubtful debts |
|
|
|
|
25,000 |
|
25,000 |
|
Deferred taxation |
|
|
|
|
142,063 |
|
102,983 |
|
|
|
|
|
|
|
167,063 |
|
127,983 |
|
|
|
|
|
|
|
|
|
| 9 |
Financial commitments |
2025 |
|
2024 |
| £ |
£ |
|
|
Amounts contracted for but not provided in the accounts |
36,350 |
|
36,350 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Related party transactions |
|
|
Key mangement personnel |
|
|
Included within other creditors due after more then 1 year is £360,134 (2024 £397,850) being amounts owed to P Sweeney, part of the companies key management personnel. |
|
|
| 11 |
Other information |
|
|
Gibbs Surfacing (Northern) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Burtonhead Road |
|
St Helens |
|
Merseyside |
|
WA9 5DS |