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Registered number: 12070846
GMB Paving Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
James Khan
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12070846
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,000 6,000
Tangible Assets 5 9,481 7,310
14,481 13,310
CURRENT ASSETS
Debtors 6 46,010 38,913
Cash at bank and in hand 5,096 2,580
51,106 41,493
Creditors: Amounts Falling Due Within One Year 7 (29,021 ) (14,725 )
NET CURRENT ASSETS (LIABILITIES) 22,085 26,768
TOTAL ASSETS LESS CURRENT LIABILITIES 36,566 40,078
Creditors: Amounts Falling Due After More Than One Year 8 (29,487 ) (40,000 )
NET ASSETS 7,079 78
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 7,077 76
SHAREHOLDERS' FUNDS 7,079 78
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have 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 Ben Gulliver
Director
22/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
GMB Paving Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12070846 . The registered office is Unit 16B Bona Road, Llandow, Cowbridge, CF71 7PN.
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.
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 10 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:
Plant & Machinery 20% Straight-Line
Motor Vehicles 20% Straight-Line
Computer Equipment 20% Straight-Line
2.5. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 10,000
As at 31 October 2024 10,000
Amortisation
As at 1 November 2023 4,000
Provided during the period 1,000
As at 31 October 2024 5,000
...CONTINUED
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Net Book Value
As at 31 October 2024 5,000
As at 1 November 2023 6,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2023 2,913 8,100 - 11,013
Additions 570 5,800 747 7,117
Disposals - (4,700 ) - (4,700 )
As at 31 October 2024 3,483 9,200 747 13,430
Depreciation
As at 1 November 2023 583 3,120 - 3,703
Provided during the period 697 1,840 149 2,686
Disposals - (2,440 ) - (2,440 )
As at 31 October 2024 1,280 2,520 149 3,949
Net Book Value
As at 31 October 2024 2,203 6,680 598 9,481
As at 1 November 2023 2,330 4,980 - 7,310
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 46,010 38,913
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Other creditors 78 (799)
Taxation and social security 18,943 5,524
29,021 14,725
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 29,487 40,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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