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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 |
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JOHN GIBB PLASTERING LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 |
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FOR |
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JOHN GIBB PLASTERING LIMITED |
JOHN GIBB PLASTERING LIMITED (REGISTERED NUMBER: 04258455) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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JOHN GIBB PLASTERING LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2022 |
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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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Suite 34 |
Lonsdale Gate |
Lonsdale Gardens |
Tunbridge Wells |
Kent |
TN1 1NU |
JOHN GIBB PLASTERING LIMITED (REGISTERED NUMBER: 04258455) |
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BALANCE SHEET |
31 JULY 2022 |
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2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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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: |
(a) | 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 and authorised for issue on
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JOHN GIBB PLASTERING LIMITED (REGISTERED NUMBER: 04258455) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
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1. | STATUTORY INFORMATION |
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John Gibb Plastering Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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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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Turnover is recognised to the extent it is probable that economic benefit will flow to the company, and that it can be reliably measured. Turnover is measured at the fair value of consideration received or receivable, net of discounts, rebates, VAT and other sales taxes. |
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Turnover from the provision of services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when the following conditions are satisfied: |
- the amount of turnover can be measured reliably; |
- it is probable that consideration due will be received; |
- the stage of completion of the contract at the reporting date can be measured reliably, and |
- the costs incurred, or to be incurred, can be measured reliably. |
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Turnover recognised but not billed at the reporting date is treated as amounts recoverable on contracts due within one year. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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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Cost is calculated using the cost of purchase of finished goods for resale. |
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At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to the estimated realisable value, and the impairment is immediately recognised in the statement of income and retained earnings. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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Cash and cash equivalents |
Cash is represented by cash in hand and bank current and short term deposit accounts. |
JOHN GIBB PLASTERING LIMITED (REGISTERED NUMBER: 04258455) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 August 2021 |
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Additions |
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At 31 July 2022 |
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DEPRECIATION |
At 1 August 2021 |
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Charge for year |
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At 31 July 2022 |
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NET BOOK VALUE |
At 31 July 2022 |
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At 31 July 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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Accruals and deferred income |
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Accrued expenses |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 July 2022 and 31 July 2021: |
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2022 | 2021 |
£ | £ |
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Balance outstanding at start of year |
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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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JOHN GIBB PLASTERING LIMITED (REGISTERED NUMBER: 04258455) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
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The above loan balance includes interest charged at 2.50%. |
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8. | RELATED PARTY DISCLOSURES |
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During the year rent of £14,400 (2021 - £12,600) was paid to Mr & Mrs J Gibb, directors and shareholders of the company. |
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The balance of the loans outstanding from Ashdown Homes (Sussex) Limited a company in which Mr & Mrs J Gibb are directors and shareholders at the year end was £486,100. This loan is interest free. |
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9. | ULTIMATE CONTROLLING PARTY |
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The directors deem there is no overall controlling party, as defined by FRS102. |