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REGISTERED NUMBER: 12356654 (England and Wales)















GOBEAR LOANS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






GOBEAR LOANS LTD (REGISTERED NUMBER: 12356654)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOBEAR LOANS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: M A Smith
M R Singh-Sually





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 12356654 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

GOBEAR LOANS LTD (REGISTERED NUMBER: 12356654)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,118 16,112

CURRENT ASSETS
Debtors 5 89,190 114,283
Cash at bank 314,097 312,310
403,287 426,593
CREDITORS
Amounts falling due within one year 6 62,098 91,767
NET CURRENT ASSETS 341,189 334,826
TOTAL ASSETS LESS CURRENT
LIABILITIES

356,307

350,938

PROVISIONS FOR LIABILITIES 3,556 3,061
NET ASSETS 352,751 347,877

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 352,651 347,777
SHAREHOLDERS' FUNDS 352,751 347,877

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

GOBEAR LOANS LTD (REGISTERED NUMBER: 12356654)

BALANCE SHEET - continued
31ST DECEMBER 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th February 2024 and were signed on its behalf by:





M A Smith - Director


GOBEAR LOANS LTD (REGISTERED NUMBER: 12356654)

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

1. STATUTORY INFORMATION

GoBear Loans 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Office equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GOBEAR LOANS LTD (REGISTERED NUMBER: 12356654)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1st January 2023 7,732 13,444 21,176
Additions 1,479 2,956 4,435
At 31st December 2023 9,211 16,400 25,611
DEPRECIATION
At 1st January 2023 869 4,195 5,064
Charge for year 1,619 3,810 5,429
At 31st December 2023 2,488 8,005 10,493
NET BOOK VALUE
At 31st December 2023 6,723 8,395 15,118
At 31st December 2022 6,863 9,249 16,112

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 83,819 111,019
GoBear Property Ltd 502 502
Prepayments 4,869 2,762
89,190 114,283

GOBEAR LOANS LTD (REGISTERED NUMBER: 12356654)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation Tax 57,465 84,062
Social security and other taxes 1,645 -
Other creditors - 1,484
Directors' current accounts 624 6,170
Accrued expenses 2,364 51
62,098 91,767

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 30,811 4,455
Between one and five years 46,013 5,941
76,824 10,396

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
45 Ordinary A £1 45 45
45 Ordinary B £1 45 45
5 Ordinary C £1 5 5
5 Ordinary D £1 5 5
100 100

9. RELATED PARTY DISCLOSURES

The company had the following outstanding directors loans at the year end:
- M R Singh-Sually was owed £312 (2022 - £4,870)
- M A Smith was owed £312 (2022 - £1,302)

Loans were made to connected parties and at year end the following balances were outstanding:
- M J Singh owed the company £41,153 (2022 - £60,217)
- K M Smith owed the company £20,648 (2022 - £40,149)