Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity77falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11433262 2023-04-01 2024-03-31 11433262 2022-04-01 2023-03-31 11433262 2024-03-31 11433262 2023-03-31 11433262 c:Director3 2023-04-01 2024-03-31 11433262 d:PlantMachinery 2023-04-01 2024-03-31 11433262 d:PlantMachinery 2024-03-31 11433262 d:PlantMachinery 2023-03-31 11433262 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11433262 d:MotorVehicles 2023-04-01 2024-03-31 11433262 d:MotorVehicles 2024-03-31 11433262 d:MotorVehicles 2023-03-31 11433262 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11433262 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11433262 d:CurrentFinancialInstruments 2024-03-31 11433262 d:CurrentFinancialInstruments 2023-03-31 11433262 d:Non-currentFinancialInstruments 2024-03-31 11433262 d:Non-currentFinancialInstruments 2023-03-31 11433262 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11433262 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11433262 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11433262 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11433262 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 11433262 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 11433262 d:ShareCapital 2024-03-31 11433262 d:ShareCapital 2023-03-31 11433262 d:RetainedEarningsAccumulatedLosses 2024-03-31 11433262 d:RetainedEarningsAccumulatedLosses 2023-03-31 11433262 c:FRS102 2023-04-01 2024-03-31 11433262 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11433262 c:FullAccounts 2023-04-01 2024-03-31 11433262 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11433262 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 11433262 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 11433262 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 11433262 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 11433262 2 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

11433262







GIBIDI UK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 MARCH 2024

































GIBIDI UK LIMITED
REGISTERED NUMBER:11433262

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,569
24,347

Current assets
  

Stocks
 5 
214,959
291,193

Debtors: amounts falling due within one year
 6 
115,242
137,713

Cash at bank and in hand
  
18,639
22,417

  
348,840
451,323

Creditors: amounts falling due within one year
 7 
(214,935)
(301,466)

Net current assets
  
 
 
133,905
 
 
149,857

Total assets less current liabilities
  
151,474
174,204

Creditors: amounts falling due after more than one year
 8 
(13,949)
(24,111)

Provisions for liabilities
  

Deferred tax
 10 
(1,662)
(3,453)

Net assets
  
135,863
146,640


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
85,863
96,640

  
135,863
146,640


Page 1

GIBIDI UK LIMITED
REGISTERED NUMBER:11433262
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G. J. Tate
Director

Date: 12 August 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

GIBIDI UK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

GiBiDi UK Limited is a limited company domiciled and incorporated in England.
The address of its registered office and principal place of business is Unit 5 Spelmonden Farm, Goudhurst, Cranbrook, Kent, TN17 1HD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise indicated.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised when the goods are collected or received by the customer.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

GIBIDI UK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
10% - 33% straight-line basis
Motor vehicles
-
25% reducing-balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowances for obsolete and slow moving stock. 

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

 
2.10

 Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

GIBIDI UK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

 Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

 Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

 Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.14

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 7).

Page 5

GIBIDI UK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost


At 1 April 2023
29,954
12,472
42,426



At 31 March 2024

29,954
12,472
42,426



Depreciation


At 1 April 2023
9,985
8,094
18,079


Charge for the year
5,801
977
6,778



At 31 March 2024

15,786
9,071
24,857



Net book value



At 31 March 2024
14,168
3,401
17,569



At 31 March 2023
19,969
4,378
24,347

Page 6

GIBIDI UK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
214,959
291,193



6.


Debtors

2024
2023
£
£


Trade debtors
103,490
112,867

Amounts owed by related companies
7,384
15,721

Prepayments and accrued income
4,368
9,125

115,242
137,713



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,166
9,914

Trade creditors
8,383
13,407

Amounts owed to group undertakings
813
813

Amounts owed to related companies
156,977
234,143

Corporation tax
-
628

Other taxation and social security
32,989
37,240

Other creditors
731
536

Accruals
4,876
4,785

214,935
301,466





8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,949
24,111


Page 7

GIBIDI UK LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,166
9,914


Amounts falling due 2-5 years

Bank loans
13,949
24,111


24,115
34,025


The Company drew down a loan during 2021 which was facilitated by the Government's Bounce Back Loan Scheme. The loan is repayable over the course of six years at an interest rate of 2.5%. The loan was interest-free for the first 12 months.


10.


Deferred taxation




2024


£






At beginning of year
(3,453)


Charged to profit or loss
1,791



At end of year
(1,662)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(3,054)
(3,453)

Tax losses carried forward
1,392
-

(1,662)
(3,453)


11.


Related party transactions

Included within creditors are amounts of £154,266, £2,711 and £813 (2023: £226,307, £813 and £1,155) owed to the shareholders. 

 
Page 8