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REGISTERED NUMBER: 04820397 (England and Wales)















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: G W Barton
Mrs B Barton





SECRETARY: Mrs B Barton





REGISTERED OFFICE: Hall Farm
Saundby
Retford
Nottinghamshire
DN22 9ER





REGISTERED NUMBER: 04820397 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
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 62,734 15,311
Investment property 5 665,000 665,000
727,734 680,311

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 6 2,255 587
Cash at bank 20,201 27,701
23,456 29,288
CREDITORS
Amounts falling due within one year 7 194,090 104,625
NET CURRENT LIABILITIES (170,634 ) (75,337 )
TOTAL ASSETS LESS CURRENT LIABILITIES 557,100 604,974

CREDITORS
Amounts falling due after more than one year 8 (195,000 ) (210,000 )

PROVISIONS FOR LIABILITIES (40,931 ) (38,419 )
NET ASSETS 321,169 356,555

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Fair value reserve 11 168,797 168,797
Retained earnings 142,372 177,758
SHAREHOLDERS' FUNDS 321,169 356,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

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


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 Board of Directors and authorised for issue on 18 March 2024 and were signed on its behalf by:





G W Barton - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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 2 (2022 - 2 ) .

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 54,188
Additions 53,716
At 31 October 2023 107,904
DEPRECIATION
At 1 July 2022 38,877
Charge for period 6,293
At 31 October 2023 45,170
NET BOOK VALUE
At 31 October 2023 62,734
At 30 June 2022 15,311

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 31 October 2023 665,000
NET BOOK VALUE
At 31 October 2023 665,000
At 30 June 2022 665,000

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 1,878 -
Other debtors 377 587
2,255 587

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 10,000 10,000
Trade creditors 2,121 2,334
Taxation and social security 7,064 3,699
Other creditors 174,905 88,592
194,090 104,625

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 195,000 210,000

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 205,000 220,000

The bank loans are secured against investment property

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000

11. RESERVES
Fair
value
reserve
£   
At 1 July 2022
and 31 October 2023 168,797

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.