Gibbs Removals Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 10043733

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	4		15,870		11,343

			15,870		11,343
CURRENT ASSETS
Debtors	5	8,317		3,536
Cash at bank and in hand		51,746		40,644

		60,063		44,180
Creditors: Amounts Falling Due Within One Year	6	(25,540 )		(30,091 )

NET CURRENT ASSETS (LIABILITIES)			34,523		14,089

TOTAL ASSETS LESS CURRENT LIABILITIES			50,393		25,432

PROVISIONS FOR LIABILITIES
Deferred taxation			(3,015 )		(2,155 )

NET ASSETS			47,378		23,277

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			47,278		23,177

SHAREHOLDERS' FUNDS			47,378		23,277

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Gibbs Removals Ltd

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account.

On behalf of the board

Mr R L Gibbs

Director

13 August 2026

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

1. General Information

Gibbs Removals Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10043733 . The registered office is Lonsdale Farm Main Road, Deeping St. Nicholas, Spalding, England, PE11 3DG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor vehicles	25% reducing balance
Computer equipment	25% reducing balance

2.4. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.5. Financial Instruments

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Gibbs Removals Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

2.8. 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.

2.9. 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

2.10. Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.11. Interest income

Interest income is recognised in the profit and loss using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

4. Tangible assets

	Motor vehicles	Computer equipment	Total
	£	£	£
Cost
As at 1 April 2025	28,990	1,373	30,363
Additions	8,850	168	9,018
Disposals	(5,000 )	(157 )	(5,157 )

As at 31 March 2026	32,840	1,384	34,224

Depreciation
As at 1 April 2025	18,548	472	19,020
Provided during the period	3,387	227	3,614
Disposals	(4,240 )	(40 )	(4,280 )

As at 31 March 2026	17,695	659	18,354

Net Book Value
As at 31 March 2026	15,145	725	15,870

As at 1 April 2025	10,442	901	11,343

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Gibbs Removals Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	6,300	1,200
Other debtors	2,017	2,336

	8,317	3,536

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	1,536	77
Other creditors	11,193	21,198
Taxation and social security	12,811	8,816

	25,540	30,091

7. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

8. Related Party Disclosures

During the year the director loaned the company monies. The balance owing at the year end totalled £1,237 (2025: £17,172) which is shown within other creditors. No interest has been charged on this loan. This loan is repayable on demand.

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