REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
GABBEY BUSINESS MACHINES (1979) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
GABBEY BUSINESS MACHINES (1979) LIMITED |
GABBEY BUSINESS MACHINES (1979) LIMITED (REGISTERED NUMBER: NI013926) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
GABBEY BUSINESS MACHINES (1979) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
17 Clarendon Road |
Clarendon Dock |
Belfast |
BT1 3BG |
BANKERS: |
1 Donegall Square South |
Belfast |
BT1 5LR |
GABBEY BUSINESS MACHINES (1979) LIMITED (REGISTERED NUMBER: NI013926) |
BALANCE SHEET |
31 DECEMBER 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
GABBEY BUSINESS MACHINES (1979) LIMITED (REGISTERED NUMBER: NI013926) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were authorised for issue by the Board of Directors and authorised for issue on |
GABBEY BUSINESS MACHINES (1979) LIMITED (REGISTERED NUMBER: NI013926) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Gabbey Business Machines (1979) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Gabbey Business Machines (1979) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Significant judgements and estimates |
In preparing these financial statements the directors have made the following judgements and estimates: |
(a) Recoverability of Debtors |
Estimates are made in respect of the recoverable value of trade debtors. When assessing the level of provisions required, factors considered include current experience of debtor book, historical rates of non-recoverability and the ageing profile of debtors. See note 8 for the net carrying amount of debtors. |
(b) Carrying value of stock |
Stock represents goods for resale and is measured at the lower of cost and net realisable value. Net realisable value it the estimated selling price in the ordinary course of business, less the estimated costs to make the sale. Provision is made for obsolete and slow moving stock based on historical experience. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Pension costs and other post-retirement benefits |
The company operates a money purchase (defined contribution) pension scheme. Contributions payable for the year are charged in the profit and loss account. These contributions are invested separately from the company's assets. |
GABBEY BUSINESS MACHINES (1979) LIMITED (REGISTERED NUMBER: NI013926) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Investments |
Investments held as fixed assets are stated at cost less provision for permanent diminution in value. Those held as current assets are stated at the lower of cost and net realisable value. Dividends are brought to account in the profit and loss account when received. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures, |
Plant and | fittings | Motor |
machinery | & equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The company owns eight of the ten issued ordinary £1 shares in Island Office Supplies Limited. The directors are of the opinion that their shares are not worth more than their par value. Island Office Supplies Limited ceased trading on the 31 December 2012. The company had no transactions in the year ended 31 December 2023 (2022: no transactions), and had no capital and reserves as at 31 December 2023 (2022 - £0). |
GABBEY BUSINESS MACHINES (1979) LIMITED (REGISTERED NUMBER: NI013926) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | STOCKS |
31.12.23 | 31.12.22 |
£ | £ |
Stocks |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Included in other creditors is an amount of £6,567 (2022: £26,794) in relation to directors current accounts. This amount is interest free and repayable on demand. |
9. | RELATED PARTY DISCLOSURES |
Gabbey Business Machines (1979) Limited hold an eighty per cent interest in the equity capital of Island Office Supplies Limited. Island Office Supplies Limited ceased trading on the 31 December 2012, and there was therefore no related party transactions during the year. |
10. | ULTIMATE CONTROLLING PARTY |
The company continues to be controlled by the Irvine family. |