Gibson Jones Investments Limited 28/02/2018 iXBRL

Gibson Jones Investments Limited 28/02/2018 iXBRL

GIBSON JONES INVESTMENTS LIMITED - Company Information

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28/02/2018 2018-02-28 false false false false false false false false false false true false false true false false false false false false true false No description of principal activities is disclosed 2017-03-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 09476911 2017-03-01 2018-02-28 09476911 2018-02-28 09476911 2016-03-01 2017-02-28 09476911 2017-02-28 09476911 core:OnerousContractsExcludingVacantProperties 2017-03-01 2018-02-28 09476911 bus:RegisteredOffice 2017-03-01 2018-02-28 09476911 bus:LeadAgentIfApplicable 2017-03-01 2018-02-28 09476911 bus:Director1 2017-03-01 2018-02-28 09476911 bus:Director2 2017-03-01 2018-02-28 09476911 core:PlantMachinery 2018-02-28 09476911 core:WithinOneYear 2018-02-28 09476911 core:WithinOneYear 2017-02-28 09476911 core:AfterOneYear 2018-02-28 09476911 core:AfterOneYear 2017-02-28 09476911 core:RetainedEarningsAccumulatedLosses 2017-02-28 09476911 core:RetainedEarningsAccumulatedLosses 2016-02-29 09476911 core:RetainedEarningsAccumulatedLosses 2018-02-28 09476911 core:RetainedEarningsAccumulatedLosses 2017-02-28 09476911 core:ShareCapital 2018-02-28 09476911 core:ShareCapital 2017-02-28 09476911 core:PlantMachinery 2017-02-28 09476911 bus:SmallEntities 2017-03-01 2018-02-28 09476911 bus:AuditExemptWithAccountantsReport 2017-03-01 2018-02-28 09476911 bus:FullAccounts 2017-03-01 2018-02-28 09476911 bus:SmallCompaniesRegimeForAccounts 2017-03-01 2018-02-28 09476911 bus:PrivateLimitedCompanyLtd 2017-03-01 2018-02-28
Company registration number: 09476911
Gibson Jones Investments Limited
Trading as Gibson Jones Investments Limited
Unaudited financial statements
28 February 2018
Gibson Jones Investments Limited
Contents
Directors and other information
Directors report
Accountants report
Statement of income and retained earnings
Statement of financial position
Notes to the financial statements
Gibson Jones Investments Limited
Directors and other information
Directors Mr Craig Jones
Mr Roy Gibson
Company number 09476911
Registered office 47a, Boodle Street
Ashton under Lyne
Lancs
OL6 8NF
Business address 47a, Boodle Street
Ashton under Lyne
Lancs
OL6 8NF
Accountants Accounts, Tax & Business Services Ltd
John Larner FMAAT
21, Curzon Street
Mossley
Lancs
OL5 0HA
Gibson Jones Investments Limited
Directors report
Year ended 28 February 2018
The directors present their report and the unaudited financial statements of the company for the year ended 28 February 2018.
Directors
The directors who served the company during the year were as follows:
Mr Craig Jones
Mr Roy Gibson
Gibson Jones Investments Limited is a designated investment vehicle. The company invests in large and small scale energy portfolios. Within the next financial year, the organisation will continue to search for new opportunities and aquisitions within the energy sector.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 07 January 2019 and signed on behalf of the board by:
Mr Roy Gibson
Director
Gibson Jones Investments Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Gibson Jones Investments Limited
Year ended 28 February 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gibson Jones Investments Limited for the year ended 28 February 2018 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of FMAAT, we are subject to its ethical and other professional requirements which are detailed at .
Our work has been undertaken in accordance with the requirements of FMAAT as detailed at
Accounts, Tax & Business Services Ltd
FMAAT
John Larner FMAAT
21, Curzon Street
Mossley
Lancs
OL5 0HA
4 January 2019
Gibson Jones Investments Limited
Statement of income and retained earnings
Year ended 28 February 2018
2018 2017
Note £ £
Turnover 47,906 46,963
Cost of sales ( 32,101) ( 30,273)
_______ _______
Gross profit 15,805 16,690
Administrative expenses ( 11,333) ( 13,840)
_______ _______
Operating profit 4,472 2,850
Interest payable and similar expenses ( 2,886) ( 2,886)
_______ _______
Profit/(loss) before taxation 1,586 ( 36)
Tax on profit/(loss) ( 296) -
_______ _______
Profit/(loss) for the financial year and total comprehensive income 1,290 ( 36)
_______ _______
Retained earnings at the start of the year 765 801
_______ _______
Retained earnings at the end of the year 2,055 765
_______ _______
All the activities of the company are from continuing operations.
Company registration number: 09476911
Gibson Jones Investments Limited
Statement of financial position
28 February 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 4 34,520 34,520
_______ _______
34,520 34,520
Current assets
Debtors 5 20,471 10,336
Cash at bank and in hand 4,475 48
_______ _______
24,946 10,384
Creditors: amounts falling due
within one year 6 ( 19,136) ( 3,409)
_______ _______
Net current assets 5,810 6,975
_______ _______
Total assets less current liabilities 40,330 41,495
Creditors: amounts falling due
after more than one year 7 ( 38,271) ( 40,726)
_______ _______
Net assets 2,059 769
_______ _______
Capital and reserves
Called up share capital 4 4
Profit and loss account 2,055 765
_______ _______
Shareholders funds 2,059 769
_______ _______
For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 07 January 2019 , and are signed on behalf of the board by:
Mr Roy Gibson
Director
Gibson Jones Investments Limited
Notes to the financial statements
Year ended 28 February 2018
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 47a, Boodle Street, Ashton under Lyne, Lancs, OL6 8NF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Solar panels - 10% % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 March 2017 and 28 February 2018 37,720 37,720
_______ _______
Depreciation
At 1 March 2017 and 28 February 2018 3,200 3,200
_______ _______
Carrying amount
At 28 February 2018 34,520 34,520
_______ _______
At 28 February 2017 34,520 34,520
_______ _______
5. Debtors
2018 2017
£ £
Other debtors 20,471 10,336
_______ _______
6. Creditors: amounts falling due within one year
2018 2017
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 18,040 -
Corporation tax 296 -
Other creditors 800 3,409
_______ _______
19,136 3,409
_______ _______
7. Creditors: amounts falling due after more than one year
2018 2017
£ £
Other creditors 38,271 40,726
_______ _______
8. Controlling party
There is no individual or company acting as a controlling party