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REGISTERED NUMBER: 05294288 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GBJ FINANCIAL LIMITED

GBJ FINANCIAL LIMITED (REGISTERED NUMBER: 05294288)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GBJ FINANCIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J R Hillier
A J Tullett





REGISTERED OFFICE: Sterling House
27 Hatchlands Road
Redhill
Surrey
RH16RW





REGISTERED NUMBER: 05294288 (England and Wales)






GBJ FINANCIAL LIMITED (REGISTERED NUMBER: 05294288)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 316,691 451,385
Tangible assets 5 2,706 -
319,397 451,385

CURRENT ASSETS
Debtors 6 793,048 807,348
Cash at bank and in hand 66,567 52,352
859,615 859,700
CREDITORS
Amounts falling due within one year 7 789,114 757,500
NET CURRENT ASSETS 70,501 102,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

389,898

553,585

CREDITORS
Amounts falling due after more than one
year

8

50,808

181,033
NET ASSETS 339,090 372,552

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 338,990 372,452
SHAREHOLDERS' FUNDS 339,090 372,552

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

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

GBJ FINANCIAL LIMITED (REGISTERED NUMBER: 05294288)

BALANCE SHEET - continued
31 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:




J R Hillier - Director



A J Tullett - Director


GBJ FINANCIAL LIMITED (REGISTERED NUMBER: 05294288)

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


1. STATUTORY INFORMATION

GBJ Financial 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. 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 represents net invoiced sales of professional services, excluding value added tax.

Goodwill
Goodwill, being the amounts paid in connection with the acquisition of accounting businesses, are being amortised evenly over their estimated useful lives of ten years.

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 - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

GBJ FINANCIAL LIMITED (REGISTERED NUMBER: 05294288)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2023
and 31 December 2023 1,309,301
AMORTISATION
At 1 January 2023 857,916
Charge for year 134,694
At 31 December 2023 992,610
NET BOOK VALUE
At 31 December 2023 316,691
At 31 December 2022 451,385

Goodwill is in respect to amounts paid in connection with the acquisition of accounting businesses.

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023 24,450
Additions 3,381
Disposals (13,533 )
At 31 December 2023 14,298
DEPRECIATION
At 1 January 2023 24,450
Charge for year 675
Eliminated on disposal (13,533 )
At 31 December 2023 11,592
NET BOOK VALUE
At 31 December 2023 2,706

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 246,516 196,563
Amounts owed by group undertakings 353,431 380,599
Work in progress 84,725 88,184
Other debtors 108,376 142,002
793,048 807,348

GBJ FINANCIAL LIMITED (REGISTERED NUMBER: 05294288)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 159,486 185,376
Trade creditors 42,834 43,926
Taxation and social security 91,615 119,987
Other creditors 495,179 408,211
789,114 757,500

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 50,808 181,033