Company registration number 13367499 (England and Wales)
GASBI LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
GASBI LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GASBI LIMITED
BALANCE SHEET
AS AT
5 APRIL 2023
05 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
577,644
301,267
Current assets
Debtors
5
25,272
25,023
Cash at bank and in hand
10,735
332,151
36,007
357,174
Creditors: amounts falling due within one year
6
(656,306)
(652,500)
Net current liabilities
(620,299)
(295,326)
Net (liabilities)/assets
(42,655)
5,941
Capital and reserves
Called up share capital
100
100
Other reserves
4,524
14,286
Profit and loss reserves
(47,279)
(8,445)
Total equity
(42,655)
5,941
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 November 2023 and are signed on its behalf by:
Mr P D Weston
Director
Company registration number 13367499 (England and Wales)
GASBI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
- 2 -
1
Accounting policies
Company information
GASBI Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old House, Middleton, Quernhow, Ripon, HG4 5HX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is dependent on the directors for the continuance of normal trading operations. As the directors have indicated their continued support for the foreseeable future, the financial statements have been drawn up assuming a going concern.true
1.3
Income from fixed asset investments
Dividends are accounted for in accordance with FRS102 section 1A and this included net, without any applicable tax credit.
Income from fixed interest securities, government stocks and other interest receivable are included on an accruals basis.
1.4
Fixed asset investments
Listed investments are measured at fair value with changes in fair value being recognised in the statement of comprehensive income. The cost of these investments at 5th April 2023 is £573,120 (2022: £286,981)
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
GASBI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
- 3 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
577,644
301,267
Movements in fixed asset investments
Other
£
Cost or valuation
At 6 April 2022
301,267
Additions
1,417,580
Valuation changes
(57,105)
Disposals
(1,084,098)
At 5 April 2023
577,644
Carrying amount
At 5 April 2023
577,644
At 5 April 2022
301,267
Listed investments are shown at fair value, the cost of these investments at 5th April 2023 is £573,120.
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
25,272
25,023
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,613
Other creditors
652,693
652,500
656,306
652,500
GASBI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
- 4 -
7
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
Fair value reserve - This reserve includes the cumulative annual fair value adjustments to listed investments of £4,524(2022: £14,286) along with related deferred tax of £nil (2022: £nil).