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Registered number: 12486232
GB Construction Shropshire Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Spotlight Accounting Limited
Chartered Accountants
Market Chambers
2b Market Place
Shifnal
TF11 9AZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12486232
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 236,951 241,744
236,951 241,744
CURRENT ASSETS
Stocks 5 10,000 -
Debtors 6 475,285 459,657
Cash at bank and in hand 94,936 900
580,221 460,557
Creditors: Amounts Falling Due Within One Year 7 (508,983 ) (432,452 )
NET CURRENT ASSETS (LIABILITIES) 71,238 28,105
TOTAL ASSETS LESS CURRENT LIABILITIES 308,189 269,849
Creditors: Amounts Falling Due After More Than One Year 8 (62,346 ) (79,641 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (59,238 ) (60,436 )
NET ASSETS 186,605 129,772
CAPITAL AND RESERVES
Called up share capital 10 4 4
Profit and Loss Account 186,601 129,768
SHAREHOLDERS' FUNDS 186,605 129,772
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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
G Bushnell
Director
3 December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
GB Construction Shropshire Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12486232 . The registered office is Market Chambers, 2b Market Place, Shifnal, Shropshire, TF11 9AZ.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. 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 15% Reducing balance
Motor Vehicles 25% Straight line
Fixtures & Fittings 25% Straight line
Computer Equipment 25% Straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 years 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 256,440 65,647 675 925 323,687
Additions 66,707 - - - 66,707
Disposals (36,000 ) - - - (36,000 )
As at 30 April 2024 287,147 65,647 675 925 354,394
Depreciation
As at 1 May 2023 52,447 28,922 350 224 81,943
Provided during the period 35,279 9,182 82 176 44,719
Disposals (9,219 ) - - - (9,219 )
As at 30 April 2024 78,507 38,104 432 400 117,443
Net Book Value
As at 30 April 2024 208,640 27,543 243 525 236,951
As at 1 May 2023 203,993 36,725 325 701 241,744
5. Stocks
2024 2023
as restated
£ £
Work in progress 10,000 -
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Page 5
6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 30,832 11,877
Other debtors 444,453 447,780
475,285 459,657
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 30,013 16,889
Trade creditors 70,619 66,457
Bank loans and overdrafts 23,362 23,565
Other creditors 321,091 294,362
Taxation and social security 63,898 31,179
508,983 432,452
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 50,006 58,135
Bank loans 12,340 21,506
62,346 79,641
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 30,013 16,889
Later than one year and not later than five years 50,006 58,135
80,019 75,024
80,019 75,024
10. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 4 4
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