REGISTERED NUMBER: 03521705 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Gusto Construction Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

280,013

270,670

Investments

5

250,000

250,000

530,013

520,670

CURRENT ASSETS

Stocks

9,145

-

Debtors

6

3,086,529

3,595,884

Cash at bank

421,116

109,777

3,516,790

3,705,661

CREDITORS

Amounts falling due within one year

7

433,468

686,701

NET CURRENT ASSETS

3,083,322

3,018,960

TOTAL ASSETS LESS CURRENT LIABILITIES

3,613,335

3,539,630

PROVISIONS FOR LIABILITIES

47,114

38,122

NET ASSETS

3,566,221

3,501,508

CAPITAL AND RESERVES

Called up share capital

9

10,000

10,000

Retained earnings

3,556,221

3,491,508

SHAREHOLDERS' FUNDS

3,566,221

3,501,508

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by:

S N Wright - Director

1.	STATUTORY INFORMATION

Gusto Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03521705

Registered office:

Gusto House

Green Way

Collingham

Newark

Nottinghamshire

NG23 7DX

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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and Buildings

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.

Where the outcome of the construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is expensed immediately, with a corresponding provision for an onerous contract being recognised.

Where the collectability of an amount is already recognised as contract revenue is no longer probable, the uncollectable amount is expensed rather than recognised as an adjustment to the amount of contract revenue.

The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2024 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

Motor

Buildings

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

117,083

275,112

22,511

132,938

547,644

Additions

31,592

-

5,735

20,000

57,327

Disposals

-

-

-

(20,073

)

(20,073

)

At 31 March 2025

148,675

275,112

28,246

132,865

584,898

DEPRECIATION

At 1 April 2024

-

207,343

7,887

61,744

276,974

Charge for year

-

16,942

4,295

18,455

39,692

Eliminated on disposal

-

-

-

(11,781

)

(11,781

)

At 31 March 2025

-

224,285

12,182

68,418

304,885

NET BOOK VALUE

At 31 March 2025

148,675

50,827

16,064

64,447

280,013

At 31 March 2024

117,083

67,769

14,624

71,194

270,670

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 April 2024

and 31 March 2025

250,000

NET BOOK VALUE

At 31 March 2025

250,000

At 31 March 2024

250,000

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

398,425

575,728

Other debtors

88,104

20,156

486,529

595,884

Amounts falling due after more than one year:

Amounts owed by group undertakings

2,600,000

-

Amounts owed by participating interests

-

3,000,000

2,600,000

3,000,000

Aggregate amounts

3,086,529

3,595,884

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

324,695

341,275

Taxation and social security

63,813

84,306

Other creditors

44,960

261,120

433,468

686,701

8.	SECURED DEBTS

A security is held with Barclays with limited guarantee of £80,000 at 31 March 2025, this covers a cross guarantee and debenture with Gusto Developments Limited and a debenture on the banks standard form.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

9,498

Ordinary A

£1

9,498

9,498

500

Ordinary B

£1

500

500

10,000

10,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

As the company was outside of the group in the prior period, the financial statements of the prior period were unaudited. Therefore the comparatives within these financial statements are unaudited and we have not expressed an opinion on the 2024 comparative financial statements. Despite this we have gained sufficient appropriate audit evidence that the opening balances do not contain misstatements that materially affect the current period's financial statements.

Paul Colcomb FCCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

At the year end the company's parent undertaking is Gusto Group Limited. The registered office and business address of the parent undertaking is Gusto House, Green Way, Collingham, Newark, NG23 7DX.

Gusto Group Limited became the parent company following a share transaction on 31 January 2025.

The ultimate controlling party is S N Wright. Prior to the share transaction on 31 January there was no overall controlling party.