G.B.U Limited |
Notes to the Accounts |
for the year ended 31 December 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Debtors |
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Amounts owed from group or inter-company are classed as an asset on the balance sheet. The amounts are also shown in the notes to the accounts. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 January 2023 |
30,000 |
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At 31 December 2023 |
30,000 |
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Amortisation |
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At 1 January 2023 |
30,000 |
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At 31 December 2023 |
30,000 |
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Net book value |
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At 31 December 2023 |
- |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
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4 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Trade creditors |
77 |
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47 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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1,428 |
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1,008 |
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1,505 |
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1,055 |
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5 |
Related party transactions |
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During the year the company was loaned £400 by G.B.U Hire Ltd. The balance of £400 as at 31 December 2023 is interest free and repayable on demand. |
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6 |
Controlling party |
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The company was controlled by the director. |
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7 |
Other information |
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G.B.U Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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4 High Street |
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Stanley |
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Co Durham |
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DH9 0DQ |