Gilbert's (Holdings) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00595611

GILBERT'S (HOLDINGS) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 September 2024

GILBERT'S (HOLDINGS) LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

Contents	Pages

Officers and professional advisers	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 7

GILBERT'S (HOLDINGS) LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	Mrs T E Rose
	Mr M J Gilbert
	Mr R E Gilbert

Company secretary	Mrs C Mabb

Registered office	Numeric House
	98 Station Road
	Sidcup
	Kent
	DA15 7BY

Accountants	Opass Billings Wilson & Honey LLP
	Reporting Accountants
	Numeric House
	98 Station Road
	Sidcup
	Kent
	DA15 7BY

Bankers	Barclays Bank Plc
	Wolverhampton Queens Sq
	Leicestershire
	Leicester
	LE87 2BB

Solicitors	Judge & Priestley LLP
	100 Station Road
	Sidcup
	Kent
	DA15 7DT

GILBERT'S (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		2,061,594	2,061,594

Current assets

Debtors	6	23,987	17,266
Cash at bank and in hand		348,152	314,867
		---------	---------
		372,139	332,133

Creditors: amounts falling due within one year	7	57,776		46,542
		---------		---------
Net current assets			314,363	285,591
			------------	------------
Total assets less current liabilities			2,375,957	2,347,185

Provisions

Taxation including deferred tax		243,064	243,064

Accruals and deferred income	5,257	5,391
	------------	------------
Net assets	2,127,636	2,098,730
	------------	------------

Capital and reserves

Called up share capital		4,922	4,922
Profit and loss account	8	2,122,714	2,093,808
		------------	------------
Shareholders funds		2,127,636	2,098,730
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

GILBERT'S (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 11 December 2025 , and are signed on behalf of the board by:

Mrs T E Rose

Director

Company registration number: 00595611

GILBERT'S (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Numeric House, 98 Station Road, Sidcup, Kent, DA15 7BY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Debtors

Debtors are initially recorded at fair value and are assessed for impairment at each reporting date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.

Creditors

Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.

Statement of cash flows

The company has taken advantage of the small companies exemptions and not prepared a statement of cash flows.

Revenue recognition

Revenue refers to the revenue earned from the Company's principal activity; the letting of commercial and residential property. The revenue shown in the statement of comprehensive income represents amounts invoiced during the year, exclusive of Value Added Tax.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned.

Tangible assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Computer equipment	-	5 years straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Tangible assets

	Investment property	Plant and machinery	Computer equipment	Total
	£	£	£	£
Cost
At 1 October 2023 and 30 September 2024	2,061,594	86,436	400	2,148,430
	------------	--------	----	------------
Depreciation
At 1 October 2023 and 30 September 2024	–	86,436	400	86,836
	------------	--------	----	------------
Carrying amount
At 30 September 2024	2,061,594	–	–	2,061,594
	------------	--------	----	------------
At 30 September 2023	2,061,594	–	–	2,061,594
	------------	--------	----	------------

The total historic cost of the Investment Property amounts to £266,636. The Directors have considered the accuracy of the fair value of the Investment Property at the year end and concluded that the reported fair value is reasonable and no fair value adjustment is necessary during the reporting year. The appraisal techniques used included, but were not limited to, comparing the current annual market rent yielded against the current fair value and comparing the market values of similar Investment Property recently sold in an open market on an arm's length basis .

6. Debtors

	2024	2023
	£	£
Trade debtors	8,127	1,852
Other debtors	15,860	15,414
	--------	--------
	23,987	17,266
	--------	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	7,658	–
Corporation tax	14,192	22,270
Social security and other taxes	629	–
Other creditors	35,297	24,272
	--------	--------
	57,776	46,542
	--------	--------

8. Reserves

Included in the profit and loss reserves are non distributable amounts of £1,551,894 relating to historic property revaluations.

9. Controlling party

The company has no one controlling party .