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Gillbard and Sons Construction Limited |
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Unaudited Financial Statements |
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for the Year Ended 28th February 2018 |
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REGISTERED NUMBER:
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Gillbard and Sons Construction Limited |
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Unaudited Financial Statements |
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for the Year Ended 28th February 2018 |
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Gillbard and Sons Construction Limited (Registered number: 05719092) |
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Contents of the Financial Statements |
for the Year Ended 28th February 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Gillbard and Sons Construction Limited |
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Company Information |
for the Year Ended 28th February 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
12 Southgate Street |
LAUNCESTON |
Cornwall |
PL15 9DP |
Gillbard and Sons Construction Limited (Registered number: 05719092) |
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Statement of Financial Position |
28th February 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Gillbard and Sons Construction Limited (Registered number: 05719092) |
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Notes to the Financial Statements |
for the Year Ended 28th February 2018 |
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1. | STATUTORY INFORMATION |
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Gillbard and Sons Construction Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life |
once the asset is brought in to use. |
Freehold property | - | not provided for on land |
Plant and machinery | - | 25% on reducing balance |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - NIL). |
Gillbard and Sons Construction Limited (Registered number: 05719092) |
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Notes to the Financial Statements - continued |
for the Year Ended 28th February 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1st March 2017 |
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Disposals | ( |
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At 28th February 2018 |
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AMORTISATION |
At 1st March 2017 |
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Eliminated on disposal | ( |
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At 28th February 2018 |
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NET BOOK VALUE |
At 28th February 2018 |
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At 28th February 2017 |
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5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1st March 2017 |
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Additions |
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At 28th February 2018 |
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DEPRECIATION |
At 1st March 2017 |
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Charge for year |
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At 28th February 2018 |
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NET BOOK VALUE |
At 28th February 2018 |
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At 28th February 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Gillbard and Sons Construction Limited (Registered number: 05719092) |
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Notes to the Financial Statements - continued |
for the Year Ended 28th February 2018 |
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8. | SECURED DEBTS |
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The company has provided security for a loan taken out by EG Hooper and Partners with National Westminster |
Bank PLC having a fixed and floating charge over the companies assets. |
The directors are partners in E G Hooper and Partners. |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 28th February 2018 and |
28th February 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The overdrawn directors loan accounts have been repaid within 9 months of the year end and interest has been |
charged on the overdrawn balances in line with HM Revenue & Customs rules. |
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10. | RELATED PARTY DISCLOSURES |
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During the period
Gillbard and Sons Construction Limited
paid
EG Hooper and Partners
, in which
the directors
are partners, £30,000 (2017 - £30,000) for the hire of the workshop, tools etc. At the year end date £0 was owed from EG Hooper and Partners (2017 - £33,000). |