Company registration number 13389230 (England and Wales)
GBFH LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
GBFH LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GBFH LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
200
200
Current assets
Debtors
4
538,970
438,399
Cash at bank and in hand
685,086
686,653
1,224,056
1,125,052
Creditors: amounts falling due within one year
5
(2,400)
(300,800)
Net current assets
1,221,656
824,252
Net assets
1,221,856
824,452
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
1,221,556
824,152
Total equity
1,221,856
824,452

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 2 August 2024 and are signed on its behalf by:
S Dibley
Director
Company registration number 13389230 (England and Wales)
GBFH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

GBFH Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Fleetwood House, 480 Bath Road, Slough, Berkshire, SL1 6BB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and 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.

Classification of financial liabilities

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 assets of the company after deducting all of its liabilities.

GBFH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
200
200
GBFH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
538,399
438,399
Other debtors
571
-
0
538,970
438,399
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
-
0
300,000
Other creditors
2,400
800
2,400
300,800
2023-12-312023-01-01false02 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityTS SanghaS Dibleyfalsefalse0133892302023-01-012023-12-31133892302023-12-31133892302022-12-3113389230core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3113389230core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3113389230core:CurrentFinancialInstruments2023-12-3113389230core:CurrentFinancialInstruments2022-12-3113389230core:ShareCapital2023-12-3113389230core:ShareCapital2022-12-3113389230core:RetainedEarningsAccumulatedLosses2023-12-3113389230core:RetainedEarningsAccumulatedLosses2022-12-3113389230bus:Director22023-01-012023-12-3113389230core:WithinOneYear2023-12-3113389230core:WithinOneYear2022-12-3113389230bus:PrivateLimitedCompanyLtd2023-01-012023-12-3113389230bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3113389230bus:FRS1022023-01-012023-12-3113389230bus:AuditExemptWithAccountantsReport2023-01-012023-12-3113389230bus:Director12023-01-012023-12-3113389230bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP