REGISTERED NUMBER: 03716740 (England and Wales)

Financial Statements

for the Year Ended 30 May 2025

for

SAM GILPIN DEMOLITION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

SA Gilpin

N Gambles

GC Giles

D Rudall

REGISTERED OFFICE:

Ground Floor

Keble House

Southernhay Gardens

Exeter

Devon

EX1 1NT

REGISTERED NUMBER:

03716740 (England and Wales)

AUDITORS:

Gravita Audit Western Limited

Chartered Accountants and Statutory Auditors

Keble House

Southernhay Gardens

Exeter

Devon

EX1 1NT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,729,052

1,107,993

1,729,052

1,107,993

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

6

2,433,133

1,821,882

Cash at bank

240,697

190,202

2,683,830

2,022,084

CREDITORS

Amounts falling due within one year

7

(1,692,895

)

(1,127,500

)

NET CURRENT ASSETS

990,935

894,584

TOTAL ASSETS LESS CURRENT LIABILITIES

2,719,987

2,002,577

CREDITORS

Amounts falling due after more than one year

8

(306,369

)

(264,477

)

PROVISIONS FOR LIABILITIES

(432,263

)

(261,485

)

NET ASSETS

1,981,355

1,476,615

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,981,353

1,476,613

SHAREHOLDERS' FUNDS

1,981,355

1,476,615

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2025 and were signed on its behalf by:

SA Gilpin - Director

1.	COMPANY INFORMATION

Sam Gilpin Demolition 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.

The company's principal place of business is The Horsefields, Clay Pits Way, Newton Abbot, Devon, TQ12 3RR.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

These financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. Furthermore, The Directors of the Parent, Gilpin Group Demolition Ltd have confirmed that the group will continue to provide support to the company as necessary.

Turnover

Turnover represents net invoiced sales, net of value added tax. In addition turnover includes uninvoiced sales based on an estimate of completion, comprising of costs and where possible estimated profit. Such costs are included as accrued income in debtors.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance and 20% on cost

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents

Financial instruments are classified and accounted for, according to the substance of contractual arrangement, as 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Pension costs and other post-retirement 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.

Recharges from other group companies

Recharges from other companies are recognised in the profit and loss within the relevant section in the period within which they relate.

Lease obligations and hire purchase

Lease arrangements that transfer substantially all the risks and rewards of ownership to the lessee are treated as finance leases. Assets held under finance leases or hire purchase are capitalised within tangible fixed assets and depreciated over the shorter of the lease term and the useful life of the asset. Payments are apportioned between capital and interest expense to achieve a constant rate of interest charge on the outstanding obligation

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2024 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 May 2024

and 30 May 2025

270,000

AMORTISATION

At 31 May 2024

and 30 May 2025

270,000

NET BOOK VALUE

At 30 May 2025

-

At 30 May 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 31 May 2024

1,418,712

967,931

30,648

2,417,291

Additions

786,829

231,621

-

1,018,450

Disposals

(246,436

)

(211,642

)

-

(458,078

)

At 30 May 2025

1,959,105

987,910

30,648

2,977,663

DEPRECIATION

At 31 May 2024

606,955

674,800

27,543

1,309,298

Charge for year

103,597

84,507

621

188,725

Eliminated on disposal

(76,724

)

(172,688

)

-

(249,412

)

At 30 May 2025

633,828

586,619

28,164

1,248,611

NET BOOK VALUE

At 30 May 2025

1,325,277

401,291

2,484

1,729,052

At 30 May 2024

811,757

293,131

3,105

1,107,993

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors & accrued income

984,726

653,324

Amounts owed by group undertakings

985,362

1,005,275

Other debtors

312,166

85,557

VAT

39,848

12,325

Prepayments

111,031

65,401

2,433,133

1,821,882

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

69,667

76,000

Hire purchase contracts (see note 9)

551,605

207,400

Trade creditors

297,654

276,804

Amounts owed to group undertakings

356,734

259,499

Social security and other taxes

124,895

72,456

Other creditors

169,830

75,589

Directors' current accounts

3,321

2,650

Accruals and deferred income

119,189

157,102

1,692,895

1,127,500

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

69,667

Hire purchase contracts (see note 9)

306,369

194,810

306,369

264,477

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

551,605

207,400

Between one and five years

306,369

194,810

857,974

402,210

Non-cancellable

operating leases

2025

2024

£

£

Within one year

-

688

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

69,667

145,667

Hire purchase contracts

857,974

402,210

927,641

547,877

There is a charge with National Westminster Bank PLC over the property and undertakings of the

company.

Hire purchase liabilities are secured over the asset to which the liability relates.

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

The Report of the Auditors was unqualified.

Jade Quaintance (Senior Statutory Auditor)

for and on behalf of Gravita Audit Western Limited

12.	CAPITAL COMMITMENTS

2025

2024

£

£

Contracted but not provided for in the

financial statements

181,952

-

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 May 2025 and 30 May 2024:

2025

2024

£

£

SA Gilpin

Balance outstanding at start of year

2,650

200

Amounts advanced

1,342

2,650

Amounts repaid

(671

)

(200

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,321

2,650

14.	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.

During the year sales of £343,517 (2024 - £270,010) and a management charge of £100,000 (2024 - £nil) was made by a related entity. At the balance sheet date the balance due to the company was £216,166 (2024 - £85,557).

15.	ULTIMATE CONTROLLING PARTY

The immediate parent entity is Gilpin Demolition Group Limited.

The immediate parent company's principal place of business is The Horsefields, Clay Pits Way, Newton Abbot, Devon, TQ12 3RR.