REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st January 2023 |
for |
GAUGHAN BUILDERS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st January 2023 |
for |
GAUGHAN BUILDERS LIMITED |
GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051) |
Contents of the Financial Statements |
for the Year Ended 31st January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GAUGHAN BUILDERS LIMITED |
Company Information |
for the Year Ended 31st January 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
10 Abercorn Drive |
Hamilton |
ML3 7EX |
BANKERS: |
Palace Towers |
Hamilton |
ML3 6AD |
GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051) |
Balance Sheet |
31st January 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051) |
Balance Sheet - continued |
31st January 2023 |
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 |
GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051) |
Notes to the Financial Statements |
for the Year Ended 31st January 2023 |
1. | STATUTORY INFORMATION |
Gaughan Builders Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts invoiced to outside customers, except in respect of contracting activities where turnover represents the value of work carried out during the year including amounts not invoiced. Turnover excludes value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2023 |
2. | 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. |
Contract work in progress |
Profit on contracting activities is recognised in work in progress where the outcome of the relevant contract can be assessed with reasonable certainty. Full provision is made for all known or expected losses at completion of each contract immediately such losses are foreseen. The amount attributable to contracts in the balance sheet (disclosed under debtors as amounts recoverable on contracts) is the value of measured work less certified payments on account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st February 2022 |
Additions |
Disposals | ( |
) |
At 31st January 2023 |
DEPRECIATION |
At 1st February 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st January 2023 |
NET BOOK VALUE |
At 31st January 2023 |
At 31st January 2022 |
GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1st February 2022 |
and 31st January 2023 |
DEPRECIATION |
At 1st February 2022 |
Charge for year |
At 31st January 2023 |
NET BOOK VALUE |
At 31st January 2023 |
At 31st January 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
Other creditors |
GAUGHAN BUILDERS LIMITED (REGISTERED NUMBER: SC163051) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 37,376 | 50,444 |
The bank overdraft facility is secured by a bond and floating charge over the assets of the company, together with a personal guarantee by one of the directors. |
Hire purchase liabilities are secured over the relevant assets. |