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Company registration number: 7066684
GB Tools Limited
Trading as GB Tools Limited
Unaudited filleted financial statements
31 December 2022
GB Tools Limited
Contents
Directors and other information
Accountants report
Statement of financial position and notes to the financial statements
GB Tools Limited
Directors and other information
Directors Mrs M B S Vaughan
Mrs C L Caldwell
Company number 7066684
Registered office The Grange
Llanasa
Holywell
Flintshire
CH8 9LY
Accountants Lynda Roberts & Co.
The Old Barn, Tyn y Minffordd
Llanfwrog
Ruthin
Denbighshire
LL15 2LL
GB Tools Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of GB Tools Limited
Year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GB Tools Limited for the year ended 31 December 2022 which comprise the 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 the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of GB Tools Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of GB Tools Limited and state those matters that we have agreed to state to the board of directors of GB Tools Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GB Tools Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that GB Tools Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of GB Tools Limited. You consider that GB Tools Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of GB Tools Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lynda Roberts & Co.
Chartered Certified Accountants
The Old Barn, Tyn y Minffordd
Llanfwrog
Ruthin
Denbighshire
LL15 2LL
29 September 2023
GB Tools Limited
Statement of financial position
31 December 2022
2022 2021
£ £ £ £
Fixed assets 4,816 4,422
_______ _______
Current assets 550,434 438,657
Prepayments and accrued income 28,528 37,996
_______ _______
578,962 476,653
Creditors: amounts falling due within one year ( 646,477) ( 478,896)
_______ _______
Net current liabilities ( 67,515) ( 2,243)
_______ _______
Total assets less current liabilities ( 62,699) 2,179
Creditors: amounts falling due after more than one year ( 25,673) ( 33,002)
Accruals and deferred income ( 651) ( 601)
_______ _______
Net liabilities ( 89,023) ( 31,424)
_______ _______
Capital and reserves ( 89,023) ( 31,424)
_______ _______
Notes to the financial statements
GB Tools Limited
Year ended 31 December 2022
1. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mrs M B S Vaughan ( 275,008) ( 210,000) - ( 485,008)
Mrs C L Caldwell - ( 10,000) - ( 10,000)
_______ _______ _______ _______
( 275,008) ( 220,000) - ( 495,008)
_______ _______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mrs M B S Vaughan ( 250,602) ( 50,000) 25,594 ( 275,008)
Mrs C L Caldwell - - - -
_______ _______ _______ _______
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsiblities:
- The members have not required the company to obtain an audit of its accounts 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 accounts.
The financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:
Mrs M B S Vaughan
Director
Company registration number: 7066684
The company is a private company limited by shares, registered in England & Wales.