Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01falseequipmet brokerage11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10738866 2023-05-01 2024-04-30 10738866 2022-05-01 2023-04-30 10738866 2024-04-30 10738866 2023-04-30 10738866 c:Director1 2023-05-01 2024-04-30 10738866 d:PlantMachinery 2023-05-01 2024-04-30 10738866 d:PlantMachinery 2024-04-30 10738866 d:PlantMachinery 2023-04-30 10738866 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10738866 d:CurrentFinancialInstruments 2024-04-30 10738866 d:CurrentFinancialInstruments 2023-04-30 10738866 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10738866 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10738866 d:ShareCapital 2024-04-30 10738866 d:ShareCapital 2023-04-30 10738866 d:RetainedEarningsAccumulatedLosses 2024-04-30 10738866 d:RetainedEarningsAccumulatedLosses 2023-04-30 10738866 c:OrdinaryShareClass1 2023-05-01 2024-04-30 10738866 c:OrdinaryShareClass1 2024-04-30 10738866 c:OrdinaryShareClass1 2023-04-30 10738866 c:FRS102 2023-05-01 2024-04-30 10738866 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10738866 c:FullAccounts 2023-05-01 2024-04-30 10738866 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10738866 2 2023-05-01 2024-04-30 10738866 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10738866














GB GRIPS SERVICES LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

 
GB GRIPS SERVICES LTD
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 6


 
GB GRIPS SERVICES LTD
REGISTERED NUMBER:10738866

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,229
16,039

Current assets
  

Debtors: amounts falling due within one year
 5 
92,802
70,601

Bank and cash balances
  
113,253
200,212

  
206,055
270,813

Creditors: amounts falling due within one year
 6 
(3,714)
(38,832)

Net current assets
  
 
 
202,341
 
 
231,981

  

Net assets
  
218,570
248,020


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
218,569
248,019

  
218,570
248,020


Page 1

 
GB GRIPS SERVICES LTD
REGISTERED NUMBER:10738866
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G L Bennett
Director

Date: 15 January 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
GB GRIPS SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

GB Grips Services Ltd is a limited liability company registered in England and Wales with its registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.

The principal activitiy of the company during the year was equipment brokerage.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied
during the period, exclusive of Value Added Tax and trade discounts.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.5

Creditors

Short term creditors are measured at the transaction price.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
GB GRIPS SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.10

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
GB GRIPS SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant and machinery

£



Cost 


At 1 May 2023
26,542


Additions
5,600



At 30 April 2024

32,142



Depreciation


At 1 May 2023
10,503


Charge for the year on owned assets
5,410



At 30 April 2024

15,913



Net book value



At 30 April 2024
16,229



At 30 April 2023
16,039

Page 5

 
GB GRIPS SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Amount owed by connected company
92,200
70,000

Other debtors
602
601

92,802
70,601



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
908
20,037

Other creditors
586
16,395

Accruals and deferred income
2,220
2,400

3,714
38,832



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1
1
1


 
Page 6