1 April 2022 false No description of principal activity Taxfiler 2023.9.1 11744670business:PrivateLimitedCompanyLtd2022-04-012023-03-31 117446702022-03-31 117446702022-04-012023-03-31 11744670business:AuditExempt-NoAccountantsReport2022-04-012023-03-31 11744670business:AbridgedAccounts2022-04-012023-03-31 117446702023-03-31 11744670business:Director12022-04-012023-03-31 11744670business:Director22022-04-012023-03-31 11744670business:RegisteredOffice2022-04-012023-03-31 117446702022-03-31 11744670core:WithinOneYear2023-03-31 11744670core:WithinOneYear2022-03-31 11744670core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 11744670core:ShareCapitalcore:PreviouslyStatedAmount2022-03-31 11744670core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 11744670core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-31 11744670core:PreviouslyStatedAmount2023-03-31 11744670core:PreviouslyStatedAmount2022-03-31 11744670business:SmallEntities2022-04-012023-03-31 11744670countries:EnglandWales2022-04-012023-03-31 11744670core:FurnitureFittings2022-04-012023-03-31 11744670core:ComputerEquipment2022-04-012023-03-31 11744670business:OrdinaryShareClass12022-04-012023-03-31 11744670business:OrdinaryShareClass12021-04-012022-03-31 117446702021-04-012022-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 11744670 (England and Wales)
GBS Procure Limited Unaudited accounts for the year ended 31 March 2023
GBS Procure Limited Unaudited accounts Contents
Page
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GBS Procure Limited Company Information for the year ended 31 March 2023
Directors
Mr Gary Brian Stephens Mrs Faye Ann Stephens
Company Number
11744670 (England and Wales)
Registered Office
10 Blackthorn Road Kenilworth CV8 2DS United Kingdom
Accountants
Virtue Accounting Limited 53 Warwick Street Coventry CV5 6ET
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GBS Procure Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,146 
3,813 
Current assets
Debtors
37,057 
28,644 
Cash at bank and in hand
17,873 
23,205 
54,930 
51,849 
Creditors: amounts falling due within one year
(24,627)
(26,039)
Net current assets
30,303 
25,810 
Net assets
33,449 
29,623 
Capital and reserves
Called up share capital
20 
20 
Profit and loss account
33,429 
29,603 
Shareholders' funds
33,449 
29,623 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2023 and were signed on its behalf by
Mr Gary Brian Stephens Director Company Registration No. 11744670
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GBS Procure Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
GBS Procure Limited is a private company, limited by shares, registered in England and Wales, registration number 11744670. The registered office is 10 Blackthorn Road, Kenilworth, CV8 2DS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% straight line
Computer equipment
33% straight line
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GBS Procure Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2022
5,488 
Additions
1,512 
At 31 March 2023
7,000 
Depreciation
At 1 April 2022
1,675 
Charge for the year
2,179 
At 31 March 2023
3,854 
Net book value
At 31 March 2023
3,146 
At 31 March 2022
3,813 
5
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
20 Ordinary shares of £1 each
20 
20 
6
Loans to directors
Movements on directors' loan accounts represents timing differences between amounts owed, and payments made to, directors in respect of expenses, remuneration and dividends. At the reporting date the amount owed by the company to Mr G B Stephens was £1,107, a movement of £758 from £349 owed to the company at the beginning of the period. At the reporting date the amount owed by the company to Mrs F A Stephens was £nil. Interest has not been charged on these balances and no guarantees have been provided by either the company or the directors.
7
Average number of employees
During the year the average number of employees was 5 (2022: 4).
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