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Company Registration No. 12288690 (England and Wales)
GBD Ductwork Ltd Unaudited accounts for the year ended 31 October 2023
GBD Ductwork Ltd Unaudited accounts Contents
Page
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GBD Ductwork Ltd Company Information for the year ended 31 October 2023
Directors
Benjamin David Reed Gavin David Reed Daniel Brian McLeish
Secretary
Benjamin David Reed
Company Number
12288690 (England and Wales)
Registered Office
29 SAXON WAY ROMSEY SO51 5QP ENGLAND
Accountants
N L Accounting (South West) Ltd Unit 9, Town Farm Workshops Sixpenny Handley Salisbury Wiltshire SP5 5PA
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GBD Ductwork Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
26,067 
520 
Current assets
Inventories
44,999 
20,512 
Debtors
11,834 
13,460 
Cash at bank and in hand
40,790 
63,195 
97,623 
97,167 
Creditors: amounts falling due within one year
(58,689)
(47,671)
Net current assets
38,934 
49,496 
Net assets
65,001 
50,016 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
64,998 
50,013 
Shareholders' funds
65,001 
50,016 
For the year ending 31 October 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.
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 15 November 2023 and were signed on its behalf by
Benjamin David Reed Director Company Registration No. 12288690
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GBD Ductwork Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
GBD Ductwork Ltd is a private company, limited by shares, registered in England and Wales, registration number 12288690. The registered office is 29 SAXON WAY, ROMSEY, SO51 5QP, ENGLAND.
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.
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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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
20% Straight Line
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GBD Ductwork Ltd Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2022
547 
- 
498 
1,045 
Additions
3,141 
20,000 
4,139 
27,280 
At 31 October 2023
3,688 
20,000 
4,637 
28,325 
Depreciation
At 1 November 2022
360 
- 
165 
525 
Charge for the year
675 
333 
725 
1,733 
At 31 October 2023
1,035 
333 
890 
2,258 
Net book value
At 31 October 2023
2,653 
19,667 
3,747 
26,067 
At 31 October 2022
187 
- 
333 
520 
5
Inventories
2023 
2022 
£ 
£ 
Work in progress
44,999 
20,512 
44,999 
20,512 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
3,948 
1,563 
Trade debtors
7,886 
11,897 
11,834 
13,460 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
18,125 
11,704 
Taxes and social security
35,942 
32,281 
Loans from directors
3,872 
2,936 
Accruals
750 
750 
58,689 
47,671 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3 
3 
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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