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REGISTERED NUMBER: 13488059 (England and Wales)










Unaudited Financial Statements

for the Period 1 August 2022 to 31 October 2023

for

GBFC TH LTD

GBFC TH LTD (REGISTERED NUMBER: 13488059)






Contents of the Financial Statements
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GBFC TH LTD

Company Information
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023







DIRECTORS: Mrs Z H Close
E Hassan





REGISTERED OFFICE: Unit 2
Western Pavilion
Tower Hill
London
EC3N 4AB





REGISTERED NUMBER: 13488059 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

GBFC TH LTD (REGISTERED NUMBER: 13488059)

Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 7,552 4,880

CURRENT ASSETS
Inventories 3,236 2,782
Debtors 5 343,081 142,935
Cash at bank and in hand 54,874 55,375
401,191 201,092
CREDITORS
Amounts falling due within one year 6 276,919 110,866
NET CURRENT ASSETS 124,272 90,226
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,824

95,106

CAPITAL AND RESERVES
Called up share capital 140 110
Retained earnings 131,684 94,996
131,824 95,106

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

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

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 28 July 2024 and were signed on its behalf by:





E Hassan - Director


GBFC TH LTD (REGISTERED NUMBER: 13488059)

Notes to the Financial Statements
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023

1. STATUTORY INFORMATION

GBFC TH 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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period. or in the period of the revision and future periods where the revision affects both current and future
periods. There are no significant judgements or estimates involved in the preparation of the financial statements

Turnover
Revenue 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
Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Such cost included costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis:

Plant & machinery20% on Reducing Balance
Fixtures fittings and equipment 20% on Reducing Balance
Computer equipment20% on Reducing Balance

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

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

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially
measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the period 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.


GBFC TH LTD (REGISTERED NUMBER: 13488059)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 1,100 5,000 - 6,100
Additions 581 - 4,090 4,671
At 31 October 2023 1,681 5,000 4,090 10,771
DEPRECIATION
At 1 August 2022 220 1,000 - 1,220
Charge for period 317 1,000 682 1,999
At 31 October 2023 537 2,000 682 3,219
NET BOOK VALUE
At 31 October 2023 1,144 3,000 3,408 7,552
At 31 July 2022 880 4,000 - 4,880

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 257,100 5,980
Amounts owed by connected companies 67,471 47,000
Other debtors 18,510 89,955
343,081 142,935

GBFC TH LTD (REGISTERED NUMBER: 13488059)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,906 5,995
Amounts owed to group undertakings 72,500 3,500
Taxation and social security 186,943 83,123
Other creditors 1,570 18,248
276,919 110,866

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 31 October 2023 and 31 July 2022:

2023 2022
£    £   
E Hassan
Balance outstanding at start of period - -
Amounts advanced 9,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 9,000 -

8. RELATED PARTY DISCLOSURES

Included in debtors, amounts falling due within one year, is an amount of £257,100 (2022: £5,980) receivable from group undertakings. This loan is interest free and repayable on demand.

Included in debtors, amounts falling due within one year, is an amount of £67,471 (2022: £47,000) receivable from connected companies. This loan is interest free and repayable on demand.

Included in creditors, amounts falling due within one year, is an amount of £72,500 (2022: £3,500) payable to group undertakings.This loan is interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The company's immediate parent is MADEN GROUP LTD, incorporated in England and Wales. The ultimate controlling parties are the shareholders of Maden Group Ltd by virtue of their holding in the parent company.