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REGISTERED NUMBER: 07535378 (England and Wales)




















Financial Statements

for the Year Ended 31 December 2023

for

G.P. Burners (CIB) Ltd

G.P. Burners (CIB) Ltd (Registered number: 07535378)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G.P. Burners (CIB) Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D L Goulding
R Pancolini
F Pancolini





REGISTERED OFFICE: Hermes House
Fire Fly Avenue
Swindon
Wiltshire
SN2 2GA





REGISTERED NUMBER: 07535378 (England and Wales)

G.P. Burners (CIB) Ltd (Registered number: 07535378)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,097 7,146
34,097 7,146

CURRENT ASSETS
Stocks 342,534 291,839
Debtors 6 264,944 279,929
Cash at bank and in hand 734,260 524,989
1,341,738 1,096,757
CREDITORS
Amounts falling due within one year 7 563,561 510,229
NET CURRENT ASSETS 778,177 586,528
TOTAL ASSETS LESS CURRENT
LIABILITIES

812,274

593,674

PROVISIONS FOR LIABILITIES 8,524 1,787
NET ASSETS 803,750 591,887

CAPITAL AND RESERVES
Called up share capital 10,100 10,100
Retained earnings 793,650 581,787
803,750 591,887

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 25 July 2024 and were signed on its behalf by:





D L Goulding - Director


G.P. Burners (CIB) Ltd (Registered number: 07535378)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

G.P. Burners (CIB) 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.

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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on straight line basis
Office equipment - 20% on straight line basis

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

Taxation
Taxation for the year 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.

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 year 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.

G.P. Burners (CIB) Ltd (Registered number: 07535378)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 year was 9 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 75,000
AMORTISATION
At 1 January 2023
and 31 December 2023 75,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 January 2023 15,037 19,561 34,598
Additions 33,300 2,210 35,510
At 31 December 2023 48,337 21,771 70,108
DEPRECIATION
At 1 January 2023 11,410 16,042 27,452
Charge for year 6,276 2,283 8,559
At 31 December 2023 17,686 18,325 36,011
NET BOOK VALUE
At 31 December 2023 30,651 3,446 34,097
At 31 December 2022 3,627 3,519 7,146

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 244,326 262,584
Called up share capital not paid 10,000 10,000
Prepayments 10,618 7,345
264,944 279,929

G.P. Burners (CIB) Ltd (Registered number: 07535378)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 26,245 64,558
Amounts owed to group undertakings 216,814 232,669
Tax 59,374 34,064
Social security and other taxes 6,782 7,003
VAT 47,762 47,726
Other creditors 10,864 10,667
Accruals and deferred income 195,720 113,542
563,561 510,229

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 2,284 2,745
Between one and five years - 460
2,284 3,205

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Iain Black (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited

10. RELATED PARTY DISCLOSURES

C.I.B Unigas S.P.A

C.I.B Unigas S.P.A is the parent company of G.P. Burners (CIB) Limited. During the year they provided goods to the value of £993,118 (2022: £870,425) and services to the value of £31,400 (2022: £31,909).

The amount due to the related party at the balance sheet date was £216,814 (2022: £232,669).


Special Burner & Equipment S.R.L

Special Burner & Equipment S.R.L is another subsidiary of the parent company, C.I.B Unigas S.P.A. During the year they provided goods to the value of £Nil (2022: £4,856).

The amount due to the related party at the balance sheet date was £Nil (2022: £Nil).