IRIS Accounts Production v23.3.1.45 13931439 director 22.2.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh139314392022-02-21139314392023-02-28139314392022-02-222023-02-28139314392022-02-2113931439ns10:Originalns15:EnglandWales2022-02-222023-02-2813931439ns14:PoundSterlingns10:Original2022-02-222023-02-2813931439ns10:Originalns10:Director12022-02-222023-02-2813931439ns10:Original2022-02-222023-02-2813931439ns10:Original2023-02-2813931439ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-222023-02-2813931439ns10:Originalns10:SmallEntities2022-02-222023-02-2813931439ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-222023-02-2813931439ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-222023-02-2813931439ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-222023-02-2813931439ns10:Originalns10:FullAccounts2022-02-222023-02-2813931439ns10:Originalns10:RegisteredOffice2022-02-222023-02-2813931439ns10:Originalns5:CurrentFinancialInstruments2023-02-2813931439ns10:Originalns5:Non-currentFinancialInstruments2023-02-2813931439ns5:ShareCapitalns10:Original2023-02-2813931439ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2813931439ns10:Originalns5:PlantMachinery2022-02-222023-02-2813931439ns10:Originalns5:PlantMachinery2023-02-2813931439ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-02-222023-02-2813931439ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-02-2813931439ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-28
REGISTERED NUMBER: 13931439 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

22ND FEBRUARY 2022 TO 28TH FEBRUARY 2023

FOR

GBU COMMERCIALS LTD

GBU COMMERCIALS LTD (REGISTERED NUMBER: 13931439)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 22ND FEBRUARY 2022 TO 28TH FEBRUARY 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


GBU COMMERCIALS LTD

COMPANY INFORMATION
FOR THE PERIOD 22ND FEBRUARY 2022 TO 28TH FEBRUARY 2023







DIRECTOR: L K Lubega





REGISTERED OFFICE: Unit 7, Courtyard 31
Pontefract Road
Normanton
West Yorkshire
WF6 1JU





REGISTERED NUMBER: 13931439 (England and Wales)






GBU COMMERCIALS LTD (REGISTERED NUMBER: 13931439)

BALANCE SHEET
28TH FEBRUARY 2023

Notes £   
FIXED ASSETS
Tangible assets 4 5,560

CURRENT ASSETS
Debtors 5 15,791
Cash at bank 4
15,795
CREDITORS
Amounts falling due within one year 6 (26,024 )
NET CURRENT LIABILITIES (10,229 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,669

)

CREDITORS
Amounts falling due after more than one
year

7

(927

)
NET LIABILITIES (5,596 )

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings (5,597 )
(5,596 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28th February 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.

GBU COMMERCIALS LTD (REGISTERED NUMBER: 13931439)

BALANCE SHEET - continued
28TH FEBRUARY 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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd November 2023 and were signed by:





L K Lubega - Director


GBU COMMERCIALS LTD (REGISTERED NUMBER: 13931439)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 22ND FEBRUARY 2022 TO 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

GBU Commercials 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on reducing balance

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

GBU COMMERCIALS LTD (REGISTERED NUMBER: 13931439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 22ND FEBRUARY 2022 TO 28TH FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 6,950
At 28th February 2023 6,950
DEPRECIATION
Charge for period 1,390
At 28th February 2023 1,390
NET BOOK VALUE
At 28th February 2023 5,560

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 6,950
At 28th February 2023 6,950
DEPRECIATION
Charge for period 1,390
At 28th February 2023 1,390
NET BOOK VALUE
At 28th February 2023 5,560

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 14,342
Other debtors 1,449
15,791

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts 3,294
Other creditors 22,730
26,024

GBU COMMERCIALS LTD (REGISTERED NUMBER: 13931439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 22ND FEBRUARY 2022 TO 28TH FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts 927

8. RELATED PARTY DISCLOSURES

Included within creditors is an amount of £21,430 owing to the director of the company. No interest is charged to the company in respect of this amount and there are no fixed terms for repayment.