1 March 2022 false Taxfiler 2023.10 07955614business:PrivateLimitedCompanyLtd2022-03-012023-02-28 079556142022-02-28 079556142022-03-012023-02-28 07955614business:AuditExemptWithAccountantsReport2022-03-012023-02-28 07955614business:FilletedAccounts2022-03-012023-02-28 079556142023-02-28 07955614business:Director12022-03-012023-02-28 07955614business:RegisteredOffice2022-03-012023-02-28 079556142022-02-28 07955614core:WithinOneYear2023-02-28 07955614core:WithinOneYear2022-02-28 07955614core:AfterOneYear2023-02-28 07955614core:AfterOneYear2022-02-28 07955614core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 07955614core:ShareCapitalcore:PreviouslyStatedAmount2022-02-28 07955614core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 07955614core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-02-28 07955614core:PreviouslyStatedAmount2023-02-28 07955614core:PreviouslyStatedAmount2022-02-28 07955614business:SmallEntities2022-03-012023-02-28 07955614countries:EnglandWales2022-03-012023-02-28 07955614core:PlantMachinery2022-03-012023-02-28 07955614core:FurnitureFittings2022-03-012023-02-28 07955614core:PlantMachinery2022-02-28 07955614core:MotorVehicles2022-02-28 07955614core:FurnitureFittings2022-02-28 07955614core:PlantMachinery2023-02-28 07955614core:MotorVehicles2023-02-28 07955614core:FurnitureFittings2023-02-28 07955614core:MotorVehicles2022-03-012023-02-28 07955614business:OrdinaryShareClass12022-03-012023-02-28 07955614business:OrdinaryShareClass12021-03-012022-02-28 079556142021-03-012022-02-28 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 07955614 (England and Wales)
GMB GROUP LONDON LTD Unaudited accounts for the year ended 28 February 2023
GMB GROUP LONDON LTD Unaudited accounts Contents
Page
- 2 -
GMB GROUP LONDON LTD Company Information for the year ended 28 February 2023
Director
Mr. George Beitis
Company Number
07955614 (England and Wales)
Registered Office
143 WEST GROVE WOODFORD GREEN IG8 7NW UNITED KINGDOM
Accountants
Stoke Newington Accountants & Tax Consultants Ltd 12E Manor Road London N16 5SA
- 3 -
GMB GROUP LONDON LTD Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
47,094 
57,713 
Current assets
Debtors
25,998 
27,172 
Cash at bank and in hand
181,716 
267,991 
207,714 
295,163 
Creditors: amounts falling due within one year
(169,498)
(164,117)
Net current assets
38,216 
131,046 
Total assets less current liabilities
85,310 
188,759 
Creditors: amounts falling due after more than one year
(14,811)
(35,777)
Net assets
70,499 
152,982 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
70,498 
152,981 
Shareholders' funds
70,499 
152,982 
For the year ending 28 February 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 and authorised for issue on 13 July 2023 and were signed on its behalf by
Mr. George Beitis Director Company Registration No. 07955614
- 4 -
GMB GROUP LONDON LTD Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
GMB GROUP LONDON LTD is a private company, limited by shares, registered in England and Wales, registration number 07955614. The registered office is 143 WEST GROVE, WOODFORD GREEN, IG8 7NW, 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and 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:
Plant & machinery
15% Reducing Bal Method
Fixtures & fittings
15% Reducing Bal Method
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 5 -
GMB GROUP LONDON LTD Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2022
15,513 
41,201 
22,090 
78,804 
At 28 February 2023
15,513 
41,201 
22,090 
78,804 
Depreciation
At 1 March 2022
6,949 
1,955 
12,187 
21,091 
Charge for the year
1,285 
7,849 
1,485 
10,619 
At 28 February 2023
8,234 
9,804 
13,672 
31,710 
Net book value
At 28 February 2023
7,279 
31,397 
8,418 
47,094 
At 28 February 2022
8,564 
39,246 
9,903 
57,713 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
25,998 
26,698 
Trade debtors
- 
474 
25,998 
27,172 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
17,594 
7,112 
Trade creditors
659 
1,306 
Taxes and social security
603 
3,063 
Other creditors
56,119 
74,825 
Loans from directors
92,475 
75,263 
Accruals
2,048 
2,548 
169,498 
164,117 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
14,811 
35,777 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Transactions with related parties
At the balance sheet date, where the director held controlling interest, the company owed the director £92,475.
- 6 -
GMB GROUP LONDON LTD Notes to the Accounts for the year ended 28 February 2023
10
Controlling party
The company's ultimate controlling party is George Beitis by virtue of his ownership of 100% of the issued share capital in the company.
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).
- 7 -