Company Registration No. 11478917 (England and Wales)
GTB Collective Ltd
Unaudited accounts
for the year ended 31 July 2023
GTB Collective Ltd
Unaudited accounts
Contents
GTB Collective Ltd
Company Information
for the year ended 31 July 2023
Directors
Mr Peter Heywood
Mr Gareth Brooks
Company Number
11478917 (England and Wales)
Registered Office
Unit 5 The Enterprise Centre
Dawsons Lane
Barwell
Leicestershire
LE9 8BE
UNITED KINGDOM
Accountants
Lilley & Co (UK) Limited
Suite 8
57 High Street
Ibstock
Leicestershire
LE67 6LH
GTB Collective Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
54,803
66,290
Cash at bank and in hand
95,679
72,325
Creditors: amounts falling due within one year
(19,897)
(15,541)
Net current assets
90,372
76,423
Total assets less current liabilities
145,175
142,713
Creditors: amounts falling due after more than one year
(22,750)
(26,647)
Provisions for liabilities
Deferred tax
(10,413)
(12,595)
Net assets
112,012
103,471
Called up share capital
2
2
Profit and loss account
112,010
103,469
Shareholders' funds
112,012
103,471
For the year ending 31 July 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 3 April 2024 and were signed on its behalf by
Mr Peter Heywood
Director
Company Registration No. 11478917
GTB Collective Ltd
Notes to the Accounts
for the year ended 31 July 2023
GTB Collective Ltd is a private company, limited by shares, registered in England and Wales, registration number 11478917. The registered office is Unit 5 The Enterprise Centre, Dawsons Lane, Barwell, Leicestershire, LE9 8BE, UNITED KINGDOM.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Fixtures & fittings
25% reducing balance
Computer equipment
33% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
GTB Collective Ltd
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
62,600
38,462
5,794
106,856
Additions
778
1,507
6,634
8,919
At 31 July 2023
63,378
39,969
12,428
115,775
At 1 August 2022
21,693
15,503
3,370
40,566
Charge for the year
10,421
6,116
3,869
20,406
At 31 July 2023
32,114
21,619
7,239
60,972
At 31 July 2023
31,264
18,350
5,189
54,803
At 31 July 2022
40,907
22,959
2,424
66,290
Amounts falling due within one year
Accrued income and prepayments
13,809
12,376
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,901
3,890
Taxes and social security
13,535
8,330
Loans from directors
160
116
7
Creditors: amounts falling due after more than one year
2023
2022
GTB Collective Ltd
Notes to the Accounts
for the year ended 31 July 2023
8
Operating lease commitments
2023
2022
At 31 July 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
75,365
90,502
Later than one year and not later than five years
109,083
188,944
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).