REGISTERED NUMBER: |
G & B PROJECTS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JULY 2022 TO 31 OCTOBER 2023 |
REGISTERED NUMBER: |
G & B PROJECTS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JULY 2022 TO 31 OCTOBER 2023 |
G & B PROJECTS LTD (REGISTERED NUMBER: 04820397) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
G & B PROJECTS LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
14 London Road |
Newark |
Nottinghamshire |
NG24 1TW |
G & B PROJECTS LTD (REGISTERED NUMBER: 04820397) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
G & B PROJECTS LTD (REGISTERED NUMBER: 04820397) |
STATEMENT OF FINANCIAL POSITION - continued |
31 OCTOBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
G & B PROJECTS LTD (REGISTERED NUMBER: 04820397) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
G & B Projects Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is recognised when the significant risks and rewards have passed to the customer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company, and that the costs incurred, or to be incurred, in respect of the transaction, can be measured reliably. |
Tangible fixed assets |
Plant and machinery etc | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
G & B PROJECTS LTD (REGISTERED NUMBER: 04820397) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for period |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 30 June 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2022 |
and 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 30 June 2022 |
Fair value at 31 October 2023 is represented by: |
£ |
Valuation in 2019 | 223,611 |
Valuation in 2020 | 66,562 |
Valuation in 2021 | (85,373 | ) |
Cost | 460,200 |
665,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
G & B PROJECTS LTD (REGISTERED NUMBER: 04820397) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 155,000 | 170,000 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loans are secured against investment property |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 10,000 | 10,000 |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 July 2022 |
and 31 October 2023 |
The aggregate surplus on revaluation of investment properties, net of associated deferred tax, is transferred to a separate non-distributable reserve in order to assist with the identification of those which are available for distribution. |