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REGISTERED NUMBER: 10677091 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

GSB MORTGAGES LTD

GSB MORTGAGES LTD (REGISTERED NUMBER: 10677091)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GSB MORTGAGES LTD

COMPANY INFORMATION
for the Year Ended 31st March 2023







DIRECTOR: Mr G S Browning





REGISTERED OFFICE: 113 Forge Mill Road
Redditch
Worcestershire
B98 8HG





REGISTERED NUMBER: 10677091 (England and Wales)





ACCOUNTANTS: SAS Accountant Ltd t/as OJW Associates
16 Hennals Avenue
Webheath
Redditch
Worcestershire
B97 5RX

GSB MORTGAGES LTD (REGISTERED NUMBER: 10677091)

BALANCE SHEET
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,769 338

CURRENT ASSETS
Debtors 5 79,572 42,038
Cash at bank 19,696 31,025
99,268 73,063
CREDITORS
Amounts falling due within one year 6 23,326 24,800
NET CURRENT ASSETS 75,942 48,263
TOTAL ASSETS LESS CURRENT LIABILITIES 77,711 48,601

CREDITORS
Amounts falling due after more than one
year

7

8,147

11,901
NET ASSETS 69,564 36,700

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 69,464 36,600
SHAREHOLDERS' FUNDS 69,564 36,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GSB MORTGAGES LTD (REGISTERED NUMBER: 10677091)

BALANCE SHEET - continued
31st March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4th September 2023 and were signed by:





Mr G S Browning - Director


GSB MORTGAGES LTD (REGISTERED NUMBER: 10677091)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023


1. STATUTORY INFORMATION

GSB Mortgages Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - straight line over 3 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

GSB MORTGAGES LTD (REGISTERED NUMBER: 10677091)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st April 2022 - 744 1,711 2,455
Additions 2,395 - - 2,395
At 31st March 2023 2,395 744 1,711 4,850
DEPRECIATION
At 1st April 2022 - 566 1,551 2,117
Charge for year 626 178 160 964
At 31st March 2023 626 744 1,711 3,081
NET BOOK VALUE
At 31st March 2023 1,769 - - 1,769
At 31st March 2022 - 178 160 338

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 76,300 -
Directors' loan accounts - 42,038
Prepayments and accrued income 3,272 -
79,572 42,038

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 3,762 3,762
Tax 18,233 21,038
Social security and other taxes 26 -
Directors' loan accounts 465 -
Accrued expenses 840 -
23,326 24,800

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 8,147 11,901

GSB MORTGAGES LTD (REGISTERED NUMBER: 10677091)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 3,762 3,762

Amounts falling due between one and two years:
Bank loans - 1-2 years 3,762 3,762

Amounts falling due between two and five years:
Bank loans - 2-5 years 4,385 8,139

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100