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REGISTERED NUMBER: 11590686 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

GB Solar Ltd

GB Solar Ltd (Registered number: 11590686)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


GB Solar Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr Gareth John Beard
Mr Joshua Thomas Hartley



REGISTERED OFFICE: Unit 6
Coach Crescent
Shireoaks
Worksop
Nottinghamshire
S81 8AD



REGISTERED NUMBER: 11590686 (England and Wales)



ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Lloyds Bank plc
Birmingham OSC
Ariel House
2138 Coventry Road
Sheldon
Birmingham
B26 3JW

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
GB Solar Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GB Solar Ltd for the year ended 31 July 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of GB Solar Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GB Solar Ltd and state those matters that we have agreed to state to the Board of Directors of GB Solar Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GB Solar Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that GB Solar Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GB Solar Ltd. You consider that GB Solar Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of GB Solar Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


15 April 2024

GB Solar Ltd (Registered number: 11590686)

Balance Sheet
31 July 2023

31/7/23 31/7/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 36,285 5,451

CURRENT ASSETS
Stocks 82,659 68,727
Debtors 5 111,835 29,477
Cash at bank 46,151 26,001
240,645 124,205
CREDITORS
Amounts falling due within one year 6 (87,602 ) (78,888 )
NET CURRENT ASSETS 153,043 45,317
TOTAL ASSETS LESS CURRENT LIABILITIES 189,328 50,768

CREDITORS
Amounts falling due after more than one
year

7

(5,558

)

(8,458

)

PROVISIONS FOR LIABILITIES (9,071 ) (1,363 )
NET ASSETS 174,699 40,947

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 174,698 40,946
174,699 40,947

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

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

GB Solar Ltd (Registered number: 11590686)

Balance Sheet - continued
31 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 15 April 2024 and were signed on its behalf by:





Mr Gareth John Beard - Director


GB Solar Ltd (Registered number: 11590686)

Notes to the Financial Statements
for the Year Ended 31 July 2023


1. STATUTORY INFORMATION

GB Solar 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on cost and 20% on reducing balance

Government grants
The company has applied the accruals model when accounting for government grants which are received by the company relating to income, expenses or assets.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

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.


GB Solar Ltd (Registered number: 11590686)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued
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.

Going concern
The accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 8,041
Additions 34,403
At 31 July 2023 42,444
DEPRECIATION
At 1 August 2022 2,590
Charge for year 3,569
At 31 July 2023 6,159
NET BOOK VALUE
At 31 July 2023 36,285
At 31 July 2022 5,451

GB Solar Ltd (Registered number: 11590686)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade debtors 39,596 23,924
Other debtors 72,239 5,553
111,835 29,477

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Bank loans and overdrafts 2,900 2,900
Trade creditors 13,995 46,469
Taxation and social security 46,316 15,713
Other creditors 24,391 13,806
87,602 78,888

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/7/23 31/7/22
£    £   
Bank loans 5,558 8,458

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/7/23 31/7/22
£    £   
Within one year 27,083 7,871
Between one and five years 63,849 12,010
90,932 19,881

9. SECURED DEBTS

The following secured debts are included within creditors:

31/7/23 31/7/22
£    £   
Bank loans 8,458 -

The bank loan is unsecured as it is part of the Bounce Back Loan Scheme.