Company registration number 13696936 (England and Wales)
GNBM INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
GNBM INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
GNBM INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
31 March 2024
31 October 2022
Notes
£
£
£
£
Fixed assets
Investment property
3
700,000
700,000
Investments
4
11,339,456
476,858
12,039,456
1,176,858
Current assets
Debtors
5
68,431
401,764
Cash at bank and in hand
2,621,928
12,026,623
2,690,359
12,428,387
Creditors: amounts falling due within one year
6
(187,943)
(5,162)
Net current assets
2,502,416
12,423,225
Total assets less current liabilities
14,541,872
13,600,083
Provisions for liabilities
(150,000)
-
0
Net assets
14,391,872
13,600,083
Capital and reserves
Called up share capital
7
13,685,962
13,685,962
Profit and loss reserves
705,910
(85,879)
Total equity
14,391,872
13,600,083

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

GNBM INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 October 2024 and are signed on its behalf by:
G S Bridgstock
N P Mark
Director
Director
Company registration number 13696936 (England and Wales)
GNBM INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

GNBM Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 241 Millhouses Lane, Millhouses Lane, Sheffield, S11 9HX.

1.1
Reporting period

The financial statements are presented for the 18 month period to 31 March 2024.The comparative figures are presented for the period 22 October 2021, being the date of incorporation, to the period ended 31 October 2022. As a result the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention,modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Listed investments and managed funds are valued at market prices.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and short-term liquid investments with original maturities of three months or less.

GNBM INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GNBM INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2022
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 November 2022 and 31 March 2024
700,000

The fair value of the investment properties have been arrived at on the basis of cost when the properties were acquired. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The director has considered the fair value of the investment properties as at 31 March 2024 and confirms that the valuations remain appropriate,

4
Fixed asset investments
2024
2022
£
£
Shares in group undertakings and participating interests
24,998
-
0
Other investments other than loans
11,314,458
476,858
11,339,456
476,858
GNBM INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries and associates
Other investments
Total
£
£
£
Cost or valuation
At 1 November 2022
-
476,858
476,858
Additions
24,998
14,000,000
14,024,998
Valuation changes
-
819,647
819,647
Income received
-
23,756
23,756
Portfolio fees
-
(5,803)
(5,803)
Disposals
-
(4,000,000)
(4,000,000)
At 31 March 2024
24,998
11,314,458
11,339,456
Carrying amount
At 31 March 2024
24,998
11,314,458
11,339,456
At 31 October 2022
-
476,858
476,858
5
Debtors
2024
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
68,430
68,430
Other debtors
1
333,334
68,431
401,764
6
Creditors: amounts falling due within one year
2024
2022
£
£
Trade creditors
4,140
-
0
Corporation tax
80,448
-
0
Other taxation and social security
41,658
234
Other creditors
61,697
4,928
187,943
5,162

Included with other creditors are amounts totalling £86 (2022: £189) due to the directors.

GNBM INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 7 -
7
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
13,685,962
13,685,962
13,685,962
13,685,962
8
Parent company

The parent company of GNBM Investments Limited is GNBM Holdings Ltd and its registered office is 241 Millhouses Lane, Millhouses Lane, Sheffield, S11 9HX.

2024-03-312022-11-01false30 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityG S BridgstockN P Markfalsefalse136969362022-11-012024-03-31136969362024-03-31136969362022-10-3113696936core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3113696936core:CurrentFinancialInstrumentscore:WithinOneYear2022-10-3113696936core:CurrentFinancialInstruments2024-03-3113696936core:CurrentFinancialInstruments2022-10-3113696936core:ShareCapital2024-03-3113696936core:ShareCapital2022-10-3113696936core:RetainedEarningsAccumulatedLosses2024-03-3113696936core:RetainedEarningsAccumulatedLosses2022-10-3113696936bus:Director12022-11-012024-03-3113696936bus:Director22022-11-012024-03-31136969362021-10-222022-10-31136969362022-10-3113696936core:Non-currentFinancialInstruments2024-03-3113696936core:Non-currentFinancialInstruments2022-10-3113696936core:WithinOneYear2024-03-3113696936core:WithinOneYear2022-10-3113696936bus:PrivateLimitedCompanyLtd2022-11-012024-03-3113696936bus:SmallCompaniesRegimeForAccounts2022-11-012024-03-3113696936bus:FRS1022022-11-012024-03-3113696936bus:AuditExemptWithAccountantsReport2022-11-012024-03-3113696936bus:FullAccounts2022-11-012024-03-31xbrli:purexbrli:sharesiso4217:GBP