G D B Building Solutions Ltd
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Enter data in the white spaces Enter numbers as + unless indicated Current year Comparative
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Company registration number 11509889
Date
Approval date of the accounts by the board 06.09.2024
Date
Date of signing on the audit/accountants report 06.09.2024
Date of engagement letter (required for Date
CA and ACCA reports)
Person signing directors' report:
Name of director Mr G Reynolds
Or, name of secretary
Name of director signing balance sheet Mr G Reynolds
Address of registered office:
Address line 1 59 Torridge Road
Address line 2 Bettws
City or town Newport
County or region Gwent
Postcode NP20 7XG
Name of senior statutory auditor
Name of auditors/accountants Becketts
Type of firm (eg Chartered Accountants) Accountants
Address of auditors/accountants
Address line 1 Agincourt House
Address line 2 14 Clytha Park Road
City or town Newport
County or region Gwent
Postcode NP20 4PB
Prior year adjustments (+ for a gain; - for a loss) £
Correction of prior year errors
Effect of retrospective changes in accounting policies
More info on prior year adjustments
Number Number
Average number of persons employed by the company 1 1
Freehold land & buildings if
revalued amounts shown in trial balance: £ £
historical cost
cumulative depreciation based on cost
Historical cost of fixed asset investments £ £
Investments in subsidiaries
Other investments
£ £
Amounts due after more than one year included in debtors
Amounts included in creditors falling due for payment
after more than five years: £ £
Payable otherwise than by installment
Payable by installment
£ £
Secured bank loans included in creditors
Capital commitments: £ £
contracted
Total future payments due under non-cancellable £ £
operating leases
Registered number
11509889
G D B Building Solutions Ltd
Filleted Accounts
31 March 2024
G D B Building Solutions Ltd
Registered number: 11509889
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,992 3,943
Current assets
Work in Progress 12,000 -
Debtors 4 1,642 8,910
Cash at bank and in hand 4,828 10,688
18,470 19,598
Creditors: amounts falling due within one year 5 (4,633) (5,551)
Net current assets 13,837 14,047
Total assets less current liabilities 16,829 17,990
Creditors: amounts falling due after more than one year 6 (7,800) (11,400)
Net assets 9,029 6,590
Capital and reserves
Called up share capital 1 1
Profit and loss account 9,028 6,589
Shareholder's funds 9,029 6,590
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Reynolds
Director
Approved by the board on 06.09.2024
G D B Building Solutions Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 2,000 12,000 14,000
At 31 March 2024 2,000 12,000 14,000
Depreciation
At 1 April 2023 1,300 8,757 10,057
Charge for the year 140 811 951
At 31 March 2024 1,440 9,568 11,008
Net book value
At 31 March 2024 560 2,432 2,992
At 31 March 2023 700 3,243 3,943
4 Debtors 2024 2023
£ £
Trade debtors 1,642 4,404
Other debtors - 4,506
1,642 8,910
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 3,193 4,038
Other creditors 1,440 1,513
4,633 5,551
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,800 11,400
7 Other information
G D B Building Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
59 Torridge Road
Bettws
Newport
Gwent
NP20 7XG
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