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Registered Number: 09933535
England and Wales

 

 

 

GB LABS (HOLDINGS) LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Investments 3 106,601    2,076 
106,601    2,076 
Current assets      
Debtors   115,397 
Cash at bank and in hand 98    15 
98    115,412 
Creditors: amount falling due within one year (5,024)   (15,617)
Net current assets (4,926)   99,795 
 
Total assets less current liabilities 101,675    101,871 
Net assets 101,675    101,871 
 

Capital and reserves
     
Called up share capital 1,920    1,920 
Share premium account 75,280    75,280 
Profit and loss account 24,475    24,671 
Shareholders' funds 101,675    101,871 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 23 September 2024 and were signed on its behalf by:


-------------------------------
D E W Harland
Director
1
General Information
GB Labs (Holdings) Limited is a private company, limited by shares, registered in England and Wales, registration number 09933535, registration address Unit 1, Orpheus House Calleva Park Aldermaston, Reading, Berkshire, RG7 8TA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
Fixed asset investments
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
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 subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 4).
3.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 January 2023 2,076    2,076 
Additions 104,525    104,525 
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2023 106,601    106,601 

4.

Director’s loan

DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date there were credit balances on the following directors' loan accounts:
D E W Harland £Nil (2022: £12,000)
B R Pearce £Nil (2022: £2,500)
S Delve £Nil (2022: £1,117)


The above loans are interest free with no fixed date for repayment.
5.

Debtors: amounts falling due within one year

.   2023
£
  2022
£
Amounts Owed by Group Undertakings 111,780 
Other Debtors 3,617 
115,397 

6.

Creditors: amounts falling due within one year

.   2023
£
  2022
£
Amounts Owed to Group Undertakings 5,020 
Accrued Expenses
Directors' Current Accounts 15,617 
5,024  15,617 

7.

Share premium account

.   2023
£
  2022
£
Equity Share Premium b/fwd 75,280  99,360 
Qualifying Equity Share Issue Expenses (24,080)
75,280  75,280 

8.

Secured debts

There is a fixed and floating charge registered in favour of Lloyds Bank Plc over the undertakings of the company.
9.

Controlling party

The ultimate controlling party is D E W Harland by virtue of his shareholding.
2