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Company Registration No. 08699587 (England and Wales)
G & B Promotions Limited Unaudited accounts for the year ended 30 September 2023
G & B Promotions Limited Unaudited accounts Contents
Page
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G & B Promotions Limited Company Information for the year ended 30 September 2023
Director
Michael John Burton
Company Number
08699587 (England and Wales)
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G & B Promotions Limited Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
10,144 
- 
Tangible assets
258 
387 
10,402 
387 
Current assets
Debtors
7,314 
16,383 
Cash at bank and in hand
3,598 
15,594 
10,912 
31,977 
Creditors: amounts falling due within one year
(644,727)
(350,186)
Net current liabilities
(633,815)
(318,209)
Net liabilities
(623,413)
(317,822)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(623,513)
(317,922)
Shareholders' funds
(623,413)
(317,822)
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 July 2024 and were signed on its behalf by
Michael John Burton Director Company Registration No. 08699587
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G & B Promotions Limited Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
G & B Promotions Limited is a private company, limited by shares, registered in England and Wales, registration number 08699587.
2
Compliance with accounting standards
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29th July 2024.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Going concern
Due to the loss for the year of £305,591 and the net liabilities of £623,413 the appropriateness of the going concern basis is dependent upon the support of the company's holding company. The holding company and director have continued to support the company and the director is of the opinion that it will continue to do so. The director anticipates the income for the coming year will increase. In light of the aforementioned, the director considers it appropriate to adopt the going concern basis in preparing these financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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G & B Promotions Limited Notes to the Accounts for the year ended 30 September 2023
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 October 2022
- 
Additions
10,144 
At 30 September 2023
10,144 
Amortisation
At 1 October 2022
- 
At 30 September 2023
- 
Net book value
At 30 September 2023
10,144 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 October 2022
826 
At 30 September 2023
826 
Depreciation
At 1 October 2022
439 
Charge for the year
129 
At 30 September 2023
568 
Net book value
At 30 September 2023
258 
At 30 September 2022
387 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
7,314 
5,822 
Accrued income and prepayments
- 
4,861 
Other debtors
- 
5,700 
7,314 
16,383 
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G & B Promotions Limited Notes to the Accounts for the year ended 30 September 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
14,989 
50,719 
Amounts owed to group undertakings and other participating interests
514,400 
299,900 
Other creditors
611 
- 
Loans from directors
112,693 
(433)
Accruals
2,034 
- 
644,727 
350,186 
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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