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REGISTERED NUMBER: 08159191 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023

FOR

G B ELECTRICAL ENGINEERING MIDLANDS
LIMITED

G B ELECTRICAL ENGINEERING MIDLANDS
LIMITED (REGISTERED NUMBER: 08159191)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 4

Notes to the Financial Statements 5


G B ELECTRICAL ENGINEERING MIDLANDS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: Mrs J E Grange
Mrs A C Grange
R A Grange



REGISTERED OFFICE: Unit 2
Spring Lane Industrial Estate
Spring Lane
Willenhall
West Midlands
WV12 4HW



REGISTERED NUMBER: 08159191 (England and Wales)



ACCOUNTANTS: Fields Business Advisors Ltd
2nd Floor
Landchard House
Victoria Street
West Bromwich
West Midlands
B70 8ER



BANKERS: HSBC Bank Plc
P O Box 33
Queen Square
Wolverhampton
West Midlands
WV1 1TE

G B ELECTRICAL ENGINEERING MIDLANDS
LIMITED (REGISTERED NUMBER: 08159191)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 211,309 216,977

CURRENT ASSETS
Stocks 11,644 9,910
Debtors 6 125,821 93,255
Cash at bank and in hand 66,127 72,171
203,592 175,336
CREDITORS
Amounts falling due within one year 7 152,331 140,279
NET CURRENT ASSETS 51,261 35,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

262,570

252,034

CREDITORS
Amounts falling due after more than one year 8 (4,056 ) (5,163 )

PROVISIONS FOR LIABILITIES (5,644 ) (4,615 )
NET ASSETS 252,870 242,256

CAPITAL AND RESERVES
Called up share capital 100 70
Retained earnings 252,770 242,186
SHAREHOLDERS' FUNDS 252,870 242,256

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 ELECTRICAL ENGINEERING MIDLANDS
LIMITED (REGISTERED NUMBER: 08159191)

BALANCE SHEET - continued
31ST JULY 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 28th March 2024 and were signed on its behalf by:





R A Grange - Director


G B ELECTRICAL ENGINEERING MIDLANDS
LIMITED (REGISTERED NUMBER: 08159191)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST JULY 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1st August 2021 100 219,261 219,361

Changes in equity
Issue of share capital (30 ) - (30 )
Dividends - (75,000 ) (75,000 )
Total comprehensive income - 97,925 97,925
Balance at 31st July 2022 70 242,186 242,256

Changes in equity
Issue of share capital 30 - 30
Dividends - (75,000 ) (75,000 )
Total comprehensive income - 85,584 85,584
Balance at 31st July 2023 100 252,770 252,870

G B ELECTRICAL ENGINEERING MIDLANDS
LIMITED (REGISTERED NUMBER: 08159191)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

G B Electrical Engineering Midlands Limited 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company and are rounded to the nearest pound.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities as at the reporting date and the amounts reported for turnover and expenses during the period. The nature of estimating means that actual outcomes could differ from the original estimates.

The principal accounting policies and the judgements and estimates that have the most significant effect on amounts recognised in the financial statements are as detailed below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax.

Turnover from the provision of services is recognised when that service is provided. If provision of the service has commenced, but is not completed by the company's reporting period end then an appropriate sales provision, based on the stage of completion reached at the period end is recognised.

Turnover from the provision of goods is recognised when the risks and rewards of ownership of goods have been transferred to the customer. The risks and rewards of ownership of goods are deemed to have been transferred when the goods are shipped to, or are picked up by, the customer.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Leased assets are depreciated in line with the accounting policy set out in the hire purchase and leasing commitments paragraphs below.

Freehold land- Nil
Freehold buildings- 2.33% on cost
Plant and machinery- 15% on reducing balance
Fixtures and fittings- 10% on cost
Motor vehicles- 25% on reducing balance
Computer equipment- 33% straight line

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method.

The carrying amount of stock is recognised as an expense in the period in which the related revenue is recognised.

G B ELECTRICAL ENGINEERING MIDLANDS
LIMITED (REGISTERED NUMBER: 08159191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as cash, trade and other accounts receivable and payable and loans from banks and other third parties, including related parties.

Taxation
Taxation for the year 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 year 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.

Pension costs and other post-retirement benefits
The company makes payments into personal pension schemes on behalf of the directors of the company. Contributions are charged in the income statement in the period in which they are paid. The company also makes employers contributions into an auto-enrolment pension scheme on behalf of its employees. Contributions are recognised in the income statement in the period in which they arise.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

G B ELECTRICAL ENGINEERING MIDLANDS
LIMITED (REGISTERED NUMBER: 08159191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

5. TANGIBLE FIXED ASSETS
Freehold Fixtures
land and Plant and and
buildings machinery fittings
£    £    £   
COST
At 1st August 2022 195,942 24,146 14,288
Additions - 1,600 -
Disposals - - (116 )
At 31st July 2023 195,942 25,746 14,172
DEPRECIATION
At 1st August 2022 6,802 8,783 4,775
Charge for year 3,401 2,546 1,353
Eliminated on disposal - - (60 )
At 31st July 2023 10,203 11,329 6,068
NET BOOK VALUE
At 31st July 2023 185,739 14,417 8,104
At 31st July 2022 189,140 15,363 9,513

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st August 2022 28,145 1,393 263,914
Additions - 1,300 2,900
Disposals - (714 ) (830 )
At 31st July 2023 28,145 1,979 265,984
DEPRECIATION
At 1st August 2022 25,235 1,342 46,937
Charge for year 727 485 8,512
Eliminated on disposal - (714 ) (774 )
At 31st July 2023 25,962 1,113 54,675
NET BOOK VALUE
At 31st July 2023 2,183 866 211,309
At 31st July 2022 2,910 51 216,977

Included in cost of land and buildings is freehold land of £ 50,000 (2022 - £ 50,000 ) which is not depreciated.

The directors are of the opinion that no adjustment is required to the carrying value of the company's freehold property at 31st July 2023.
.

G B ELECTRICAL ENGINEERING MIDLANDS
LIMITED (REGISTERED NUMBER: 08159191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Fixtures
and
fittings
£   
COST
At 1st August 2022
and 31st July 2023 5,513
DEPRECIATION
At 1st August 2022 1,965
Charge for year 551
At 31st July 2023 2,516
NET BOOK VALUE
At 31st July 2023 2,997
At 31st July 2022 3,548

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 118,322 87,174
Other debtors 7,499 6,081
125,821 93,255

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Finance leases 1,107 1,004
Trade creditors 52,321 30,330
Taxation and social security 42,892 41,101
Other creditors 56,011 67,844
152,331 140,279

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Finance leases 4,056 5,163

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £75,000 were paid to the directors .