17 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 20,650 17,283 1,970 19,253 1,397 3,367 xbrli:pure xbrli:shares iso4217:GBP 10930307 2022-09-01 2023-08-31 10930307 2023-08-31 10930307 2022-08-31 10930307 2021-09-01 2022-08-31 10930307 2022-08-31 10930307 2021-08-31 10930307 core:FurnitureFittings 2022-09-01 2023-08-31 10930307 bus:Director1 2022-09-01 2023-08-31 10930307 core:FurnitureFittings 2022-08-31 10930307 core:FurnitureFittings 2023-08-31 10930307 core:WithinOneYear 2023-08-31 10930307 core:WithinOneYear 2022-08-31 10930307 core:AfterOneYear 2023-08-31 10930307 core:AfterOneYear 2022-08-31 10930307 core:ShareCapital 2023-08-31 10930307 core:ShareCapital 2022-08-31 10930307 core:RetainedEarningsAccumulatedLosses 2023-08-31 10930307 core:RetainedEarningsAccumulatedLosses 2022-08-31 10930307 core:FurnitureFittings 2022-08-31 10930307 bus:SmallEntities 2022-09-01 2023-08-31 10930307 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 10930307 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 10930307 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10930307 bus:FullAccounts 2022-09-01 2023-08-31 10930307 core:KeyManagementPersonnel 2022-09-01 2023-08-31
COMPANY REGISTRATION NUMBER: 10930307
GMB Inns Ltd
Filleted Unaudited Financial Statements
31 August 2023
GMB Inns Ltd
Financial Statements
Year ended 31 August 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
GMB Inns Ltd
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,397
3,367
Current assets
Stocks
4,320
14,267
Debtors
6
5,817
Cash at bank and in hand
6,239
7,634
--------
--------
16,376
21,901
Creditors: amounts falling due within one year
7
200,890
165,246
---------
---------
Net current liabilities
184,514
143,345
---------
---------
Total assets less current liabilities
( 183,117)
( 139,978)
Creditors: amounts falling due after more than one year
8
126,734
114,013
---------
---------
Net liabilities
( 309,851)
( 253,991)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 309,951)
( 254,091)
---------
---------
Shareholders deficit
( 309,851)
( 253,991)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GMB Inns Ltd
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
Mr G J Bevan
Director
Company registration number: 10930307
GMB Inns Ltd
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company is forecast to continue to meet its current obligations.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2022: 15 ).
5. Tangible assets
Fixtures & Fittings
Total
£
£
Cost
At 1 September 2022 and 31 August 2023
20,650
20,650
--------
--------
Depreciation
At 1 September 2022
17,283
17,283
Charge for the year
1,970
1,970
--------
--------
At 31 August 2023
19,253
19,253
--------
--------
Carrying amount
At 31 August 2023
1,397
1,397
--------
--------
At 31 August 2022
3,367
3,367
--------
--------
6. Debtors
2023
2022
£
£
Other debtors
5,817
-------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,096
4,870
Trade creditors
84,037
60,822
Social security and other taxes
91,995
56,421
Other creditors
19,762
43,133
---------
---------
200,890
165,246
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
126,734
114,013
---------
---------
9. Related party transactions
At the year end the company owed the directors £2,326 (2022: £14,694).