Registered number
05560801
G.B.U Limited
Filleted Accounts
31 December 2023
G.B.U Limited
Registered number: 05560801
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Cash at bank and in hand 211 158
Creditors: amounts falling due within one year 4 (1,505) (1,055)
Net current liabilities (1,294) (897)
Net liabilities (1,294) (897)
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,394) (997)
Shareholder's funds (1,294) (897)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Bainbridge
Director
Approved by the board on 22 July 2024
G.B.U Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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).
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
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.
Taxation
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.
Provisions
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 30,000
At 31 December 2023 30,000
Amortisation
At 1 January 2023 30,000
At 31 December 2023 30,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 77 47
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,428 1,008
1,505 1,055
5 Related party transactions
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.
6 Controlling party
The company was controlled by the director.
7 Other information
G.B.U Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 High Street
Stanley
Co Durham
DH9 0DQ
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