REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
FOR |
GILDAN (BUILDERS) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
FOR |
GILDAN (BUILDERS) LIMITED |
GILDAN (BUILDERS) LIMITED (REGISTERED NUMBER: 00922963) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GILDAN (BUILDERS) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
GILDAN (BUILDERS) LIMITED (REGISTERED NUMBER: 00922963) |
BALANCE SHEET |
30 NOVEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
GILDAN (BUILDERS) LIMITED (REGISTERED NUMBER: 00922963) |
BALANCE SHEET - continued |
30 NOVEMBER 2022 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GILDAN (BUILDERS) LIMITED (REGISTERED NUMBER: 00922963) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
1. | STATUTORY INFORMATION |
Gildan (Builders) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is the value of building and contracting services rendered in the normal course of business, exclusive of Value Added Tax. Retentions on contracts are only accounted for as turnover when received. |
Tangible fixed assets |
Plant & equipment | - |
Office equipment | - |
Motor vehicles | - |
Computer equipment | - |
All fixed assets are initially recorded at cost. |
Investment property |
Investment property is initially recognised at cost which includes the purchase price and directly attributable expenditure. This is subsequently measured at fair value at each reporting date with changes in fair value recognised in the income statement. |
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. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
GILDAN (BUILDERS) LIMITED (REGISTERED NUMBER: 00922963) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
3. | ACCOUNTING POLICIES - continued |
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. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
Grants |
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Grants relating to operating expenses are recognised through the income statement as the expenses are incurred to which they relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant & | Office | Motor | Computer |
equipment | equipment | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 December 2021 |
Disposals | ( |
) | ( |
) |
At 30 November 2022 |
DEPRECIATION |
At 1 December 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2021 |
and 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
GILDAN (BUILDERS) LIMITED (REGISTERED NUMBER: 00922963) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 30 November 2022 is represented by: |
£ |
Valuation in 2006 | 12,564 |
Valuation in 2009 | 5,000 |
Valuation in 2011 | (10,050 | ) |
Valuation in 2014 | 20,050 |
Valuation in 2015 | 5,000 |
Valuation in 2016 | 25,000 |
Valuation in 2017 | 15,000 |
Valuation in 2018 | 10,000 |
Valuation in 2019 | 15,000 |
Valuation in 2020 | 15,000 |
Valuation in 2021 | 20,000 |
Cost | 152,437 |
285,001 |
7. | DEBTORS |
2022 | 2021 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
Included in other debtors is £7,410 (2021: £8,808) in relation to prepayments and accrued income. |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Included in other creditors is £48,793 (2021: £13,412) in relation to accruals and deferred income. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
GILDAN (BUILDERS) LIMITED (REGISTERED NUMBER: 00922963) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 December 2021 |
and 30 November 2022 |
11. | OTHER FINANCIAL COMMITMENTS |
Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £nil (2021: £11,000). |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 November 2022 and 30 November 2021: |
2022 | 2021 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
This loan was unsecured with interest charged at HMRC approved rates and was repaid in full. |
13. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions. |