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REGISTERED NUMBER: 03266162 (England and Wales)













Unaudited Financial Statements for the Year Ended 31 March 2024

for

G B F S Limited
Trading as
G B Financial Services

G B F S Limited (Registered number: 03266162)
Trading as G B Financial Services






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


G B F S Limited
Trading as G B Financial Services

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B Hamblett
S Mynett





SECRETARY: S Mynett





REGISTERED OFFICE: Grove Cottage
Gravel Hill
Wombourne
Wolverhampton
West Midlands
WV5 9HA





REGISTERED NUMBER: 03266162 (England and Wales)





ACCOUNTANTS: Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
G B F S Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G B F S Limited for the year ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of G B F S Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G B F S Limited and state those matters that we have agreed to state to the Board of Directors of G B F S Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G B F S Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G B F S Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of G B F S Limited. You consider that G B F S Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G B F S Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS


9 September 2024

G B F S Limited (Registered number: 03266162)
Trading as G B Financial Services

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,682 17,242
Investments 5 200,000 -
212,682 17,242

CURRENT ASSETS
Debtors 6 821,643 828,846
Investments 7 100,000 -
Cash at bank 327,178 1,153,735
1,248,821 1,982,581
CREDITORS
Amounts falling due within one year 8 (7,828 ) (308,283 )
NET CURRENT ASSETS 1,240,993 1,674,298
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,453,675

1,691,540

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,452,675 1,690,540
1,453,675 1,691,540

G B F S Limited (Registered number: 03266162)
Trading as G B Financial Services

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:




B Hamblett - Director



S Mynett - Director


G B F S Limited (Registered number: 03266162)
Trading as G B Financial Services

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

G B F S Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

G B F S Limited (Registered number: 03266162)
Trading as G B Financial Services

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 6,309 59,963 66,272
DEPRECIATION
At 1 April 2023 4,713 44,317 49,030
Charge for year 648 3,912 4,560
At 31 March 2024 5,361 48,229 53,590
NET BOOK VALUE
At 31 March 2024 948 11,734 12,682
At 31 March 2023 1,596 15,646 17,242

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Investment bonds 200,000 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 18,249
Other debtors 821,643 810,597
821,643 828,846

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Investment bonds - short term 100,000 -

G B F S Limited (Registered number: 03266162)
Trading as G B Financial Services

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 450 4,310
Taxation and social security 436 288,002
Other creditors 6,942 15,971
7,828 308,283