IRIS Accounts Production v23.1.0.753 09329527 director 1.4.22 31.3.23 31.3.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure093295272022-03-31093295272023-03-31093295272022-04-012023-03-31093295272021-03-31093295272021-04-012022-03-31093295272022-03-3109329527ns16:EnglandWales2022-04-012023-03-3109329527ns15:PoundSterling2022-04-012023-03-3109329527ns11:Director12022-04-012023-03-3109329527ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3109329527ns11:SmallEntities2022-04-012023-03-3109329527ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3109329527ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3109329527ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3109329527ns11:FullAccounts2022-04-012023-03-3109329527ns11:RegisteredOffice2022-04-012023-03-3109329527ns6:CurrentFinancialInstruments2023-03-3109329527ns6:CurrentFinancialInstruments2022-03-3109329527ns6:Non-currentFinancialInstruments2023-03-3109329527ns6:Non-currentFinancialInstruments2022-03-3109329527ns6:ShareCapital2023-03-3109329527ns6:ShareCapital2022-03-3109329527ns6:RetainedEarningsAccumulatedLosses2023-03-3109329527ns6:RetainedEarningsAccumulatedLosses2022-03-3109329527ns6:LandBuildings2022-03-3109329527ns6:FurnitureFittings2022-03-3109329527ns6:MotorVehicles2022-03-3109329527ns6:LandBuildings2022-04-012023-03-3109329527ns6:FurnitureFittings2022-04-012023-03-3109329527ns6:MotorVehicles2022-04-012023-03-3109329527ns6:LandBuildings2023-03-3109329527ns6:FurnitureFittings2023-03-3109329527ns6:MotorVehicles2023-03-3109329527ns6:LandBuildings2022-03-3109329527ns6:FurnitureFittings2022-03-3109329527ns6:MotorVehicles2022-03-3109329527ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3109329527ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3109329527ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3109329527ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3109329527ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2023-03-3109329527ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-03-31
REGISTERED NUMBER: 09329527 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

G B Retail Ltd

G B Retail Ltd (Registered number: 09329527)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G B Retail Ltd

Company Information
for the year ended 31 March 2023







DIRECTOR: M S Bains





REGISTERED OFFICE: 5 Albany Road
Earlsdon
Coventry
West Midlands
CV5 6JQ





BUSINESS ADDRESS: 5 St John's
Keswick
Cumbria
CA12 5AP





REGISTERED NUMBER: 09329527 (England and Wales)






G B Retail Ltd (Registered number: 09329527)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,113 407,871
Investment property 5 411,815 411,815
422,928 819,686

CURRENT ASSETS
Stocks - 29,850
Debtors 6 284,634 266,255
Cash at bank and in hand 166,135 228,489
450,769 524,594
CREDITORS
Amounts falling due within one year 7 240,630 282,004
NET CURRENT ASSETS 210,139 242,590
TOTAL ASSETS LESS CURRENT LIABILITIES 633,067 1,062,276

CREDITORS
Amounts falling due after more than one
year

8

391,250

608,316
NET ASSETS 241,817 453,960

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 241,816 453,959
SHAREHOLDERS' FUNDS 241,817 453,960

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

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

The director acknowledges his 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 Retail Ltd (Registered number: 09329527)

Balance Sheet - continued
31 March 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 director and authorised for issue on 1 September 2023 and were signed by:





M S Bains - Director


G B Retail Ltd (Registered number: 09329527)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

G B Retail 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.

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 net realisable value, after making due allowance for obsolete and slow moving items.

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
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 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.

G B Retail Ltd (Registered number: 09329527)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
Premises fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 355,669 60,263 44,455 460,387
Disposals (355,669 ) (60,263 ) - (415,932 )
At 31 March 2023 - - 44,455 44,455
DEPRECIATION
At 1 April 2022 - 30,288 22,228 52,516
Charge for year - - 11,114 11,114
Eliminated on disposal - (30,288 ) - (30,288 )
At 31 March 2023 - - 33,342 33,342
NET BOOK VALUE
At 31 March 2023 - - 11,113 11,113
At 31 March 2022 355,669 29,975 22,227 407,871

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 411,815
NET BOOK VALUE
At 31 March 2023 411,815
At 31 March 2022 411,815

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 277,403 278,503
Other debtors 7,231 (12,248 )
284,634 266,255

G B Retail Ltd (Registered number: 09329527)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 41,800 34,800
Trade creditors - 10,965
Tax 57,695 99,196
PAYE account 47,048 29,427
VAT 35,592 55,259
Other creditors 21,000 21,000
Other creditors 27,638 24,000
Accruals 9,857 7,357
240,630 282,004

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loan 191,306 220,037
Other loans - 2-5 years 31,667 41,667
Hire purchase contracts 12,693 26,762
Directors' loan accounts 155,584 319,850
391,250 608,316