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Registered number: 4357327
GPB Supplies Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 4357327
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 117,811 32,309
117,811 32,309
CURRENT ASSETS
Stocks 6 139,623 121,512
Debtors 7 12,150 18,479
151,773 139,991
Creditors: Amounts Falling Due Within One Year 8 (101,576 ) (115,970 )
NET CURRENT ASSETS (LIABILITIES) 50,197 24,021
TOTAL ASSETS LESS CURRENT LIABILITIES 168,008 56,330
Creditors: Amounts Falling Due After More Than One Year 9 (66,026 ) (55,359 )
NET ASSETS 101,982 971
CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 86,500 -
Profit and Loss Account 15,382 871
SHAREHOLDERS' FUNDS 101,982 971
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G Badchkam
Director
28/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
GPB Supplies Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 4357327 . The registered office is Unit 6 Ash Court, Crystal Drive, Smethwick, Birmingham, West Midlands, B66 1QG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Straight line
Fixtures & Fittings 10% Reducing balance
Computer Equipment 33% Straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 5,000
As at 31 March 2024 5,000
Amortisation
As at 1 April 2023 5,000
As at 31 March 2024 5,000
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 April 2023 38,500 5,922 2,223 46,645
Revaluation 86,500 - - 86,500
As at 31 March 2024 125,000 5,922 2,223 133,145
Depreciation
As at 1 April 2023 8,470 3,643 2,223 14,336
Provided during the period 770 228 - 998
As at 31 March 2024 9,240 3,871 2,223 15,334
Net Book Value
As at 31 March 2024 115,760 2,051 - 117,811
As at 1 April 2023 30,030 2,279 - 32,309
6. Stocks
2024 2023
£ £
Materials 139,623 121,512
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,738 11,507
Other debtors 10,412 6,972
12,150 18,479
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 26,477 31,750
Bank loans and overdrafts 34,989 42,489
Other creditors 17,777 13,649
Taxation and social security 22,333 28,082
101,576 115,970
Page 4
Page 5
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,931 30,142
Other creditors 50,095 25,217
66,026 55,359
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Reserves
Revaluation Reserve
£
Surplus on revaluation 86,500
As at 31 March 2024 86,500
Page 5