GABITIE GROUP LIMITED

Company Registration Number:
07909806 (England and Wales)

Unaudited statutory accounts for the year ended 26 April 2024

Period of accounts

Start date: 27 April 2023

End date: 26 April 2024

GABITIE GROUP LIMITED

Contents of the Financial Statements

for the Period Ended 26 April 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

GABITIE GROUP LIMITED

Directors' report period ended 26 April 2024

The directors present their report with the financial statements of the company for the period ended 26 April 2024

Principal activities of the company

The principal activity of the company in the year under review was a manufacturer of various steel products including profiled cold-rolled steel framed buildings and steel staircases.

Political and charitable donations

During the year, the company made no donations exceeding £2000.



Directors

The director shown below has held office during the whole of the period from
27 April 2023 to 26 April 2024

Grant Bond


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
15 July 2024

And signed on behalf of the board by:
Name: Grant Bond
Status: Director

GABITIE GROUP LIMITED

Profit And Loss Account

for the Period Ended 26 April 2024

2024 2023


£

£
Turnover: 371,495 333,412
Cost of sales: ( 184,152 ) ( 164,409 )
Gross profit(or loss): 187,343 169,003
Distribution costs: ( 7,462 ) ( 8,950 )
Administrative expenses: ( 126,161 ) ( 110,374 )
Other operating income: 0 5,240
Operating profit(or loss): 53,720 54,919
Interest receivable and similar income: 1,452 0
Interest payable and similar charges: ( 12,714 ) ( 8,399 )
Profit(or loss) before tax: 42,458 46,520
Tax: 0 0
Profit(or loss) for the financial year: 42,458 46,520

GABITIE GROUP LIMITED

Balance sheet

As at 26 April 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 30,812 36,250
Tangible assets: 4 410,782 376,049
Investments: 5 75 75
Total fixed assets: 441,669 412,374
Current assets
Stocks: 6 186,546 254,575
Debtors: 7 204,642 131,983
Cash at bank and in hand: 259,842 79,704
Total current assets: 651,030 466,262
Creditors: amounts falling due within one year: 8 ( 75,316 ) ( 84,528 )
Net current assets (liabilities): 575,714 381,734
Total assets less current liabilities: 1,017,383 794,108
Creditors: amounts falling due after more than one year: 9 ( 774,141 ) ( 593,323 )
Total net assets (liabilities): 243,242 200,785
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 243,241 200,784
Total Shareholders' funds: 243,242 200,785

The notes form part of these financial statements

GABITIE GROUP LIMITED

Balance sheet statements

For the year ending 26 April 2024 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 18 January 2025
and signed on behalf of the board by:

Name: Grant Bond
Status: Director

The notes form part of these financial statements

GABITIE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 26 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Plant and Machinery: reducing balance 15% Motor Cars: reducing balance 25%

    Intangible fixed assets amortisation policy

    Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.

    Other accounting policies

    1b. Cash Flow Statement The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008)

GABITIE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 26 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 8 7

GABITIE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 26 April 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 27 April 2023 250,000 650 250,650
Additions
Disposals
Revaluations
Transfers
At 26 April 2024 250,000 650 250,650
Amortisation
At 27 April 2023 213,750 650 214,400
Charge for year 5,438 5,438
On disposals
Other adjustments
At 26 April 2024 219,188 650 219,838
Net book value
At 26 April 2024 30,812 0 30,812
At 26 April 2023 36,250 0 36,250

GABITIE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 26 April 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 27 April 2023 345,978 111,136 0 18,689 475,803
Additions 1,579 50,026 0 51,605
Disposals
Revaluations
Transfers
At 26 April 2024 347,557 161,162 0 18,689 527,408
Depreciation
At 27 April 2023 25,200 66,635 7,919 99,754
Charge for year 0 14,179 2,693 16,872
On disposals
Other adjustments
At 26 April 2024 25,200 80,814 10,612 116,626
Net book value
At 26 April 2024 322,357 80,348 0 8,077 410,782
At 26 April 2023 320,778 44,501 0 10,770 376,049

GABITIE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 26 April 2024

5. Fixed assets investments note

Fixed asset investments are shown at cost less amounts written off.

GABITIE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 26 April 2024

6. Stocks

2024 2023
£ £
Stocks 186,546 254,575
Total 186,546 254,575

GABITIE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 26 April 2024

7. Debtors

2024 2023
£ £
Trade debtors 62,983 10,055
Prepayments and accrued income 2,456 0
Other debtors 139,203 121,928
Total 204,642 131,983

GABITIE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 26 April 2024

8. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 59,124 57,075
Trade creditors 15,157 25,866
Taxation and social security 1,035 1,587
Total 75,316 84,528

GABITIE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 26 April 2024

9. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 358,912 215,668
Other creditors 415,229 377,655
Total 774,141 593,323

GABITIE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 26 April 2024

10. Loans to directors

During the year and carried forward from previous years were loans made to the company by the director. The loans are interest free. Loans of £415,229 are not repayable within twelve months. At 26 April 2024 the balance due to the director was £415,229 (2023 £377,655).