1 November 2022 false Taxfiler 2023.12 12941613business:PrivateLimitedCompanyLtd2022-11-012023-10-31 129416132022-10-31 129416132022-11-012023-10-31 12941613business:AuditExemptWithAccountantsReport2022-11-012023-10-31 12941613business:FilletedAccounts2022-11-012023-10-31 129416132023-10-31 12941613business:Director12022-11-012023-10-31 12941613business:Director22022-11-012023-10-31 12941613business:RegisteredOffice2022-11-012023-10-31 129416132022-10-31 12941613core:WithinOneYear2023-10-31 12941613core:WithinOneYear2022-10-31 12941613core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 12941613core:ShareCapitalcore:PreviouslyStatedAmount2022-10-31 12941613core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 12941613core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 12941613core:PreviouslyStatedAmount2023-10-31 12941613core:PreviouslyStatedAmount2022-10-31 12941613business:SmallEntities2022-11-012023-10-31 12941613countries:EnglandWales2022-11-012023-10-31 129416132021-11-012022-10-31 iso4217:GBP xbrli:pure
Company Registration No. 12941613 (England and Wales)
GBSF1 LTD Unaudited accounts for the year ended 31 October 2023
GBSF1 LTD Unaudited accounts Contents
Page
- 2 -
GBSF1 LTD Company Information for the year ended 31 October 2023
Directors
Wai Chung CHAN Kam Ha WONG
Company Number
12941613 (England and Wales)
Registered Office
20 BURTON ROAD MANCHESTER GREATER MANCHESTER M20 3ED ENGLAND
Accountants
Lams Accountants 20 Burton Road Didsbury Manchester Greater Manchester M20 3ED
- 3 -
GBSF1 LTD Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
127,781 
127,781 
Current assets
Debtors
645 
645 
Cash at bank and in hand
4,000 
4,580 
4,645 
5,225 
Creditors: amounts falling due within one year
(142,812)
(152,418)
Net current liabilities
(138,167)
(147,193)
Net liabilities
(10,386)
(19,412)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(10,388)
(19,414)
Shareholders' funds
(10,386)
(19,412)
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 14 February 2024 and were signed on its behalf by
Wai Chung CHAN Director Company Registration No. 12941613
- 4 -
GBSF1 LTD Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
GBSF1 LTD is a private company, limited by shares, registered in England and Wales, registration number 12941613. The registered office is 20 BURTON ROAD, MANCHESTER, GREATER MANCHESTER, M20 3ED, 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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Investment property
2023 
£ 
Fair value at 1 November 2022
127,781 
At 31 October 2023
127,781 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
645 
645 
- 5 -
GBSF1 LTD Notes to the Accounts for the year ended 31 October 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
875 
- 
Loans from directors
141,857 
152,341 
Accruals
80 
77 
142,812 
152,418 
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
- 6 -