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Company Registration No. 09478888 (England and Wales)
GB Track Limited Unaudited financial statements for the year ended 30 April 2024
GB Track Limited Unaudited financial statements Contents
Page
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GB Track Limited Company Information for the year ended 30 April 2024
Director
Md Mahabub Hossain
Company Number
09478888 (England and Wales)
Registered Office
Ferguson House 113 Cranbrook Road Ilford Essex IG1 4PU United Kingdom
Accountants
Acctax Professional Accountants Limited 105 South Esk Road Forestgate Greater London E7 8HE
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GB Track Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
2,875 
5,200 
Debtors
139,554 
179,753 
Cash at bank and in hand
146,486 
110,930 
288,915 
295,883 
Creditors: amounts falling due within one year
(81,511)
(99,240)
Net current assets
207,404 
196,643 
Total assets less current liabilities
207,404 
196,643 
Creditors: amounts falling due after more than one year
(10,974)
(20,836)
Net assets
196,430 
175,807 
Capital and reserves
Called up share capital
100,000 
100,000 
Profit and loss account
96,430 
75,807 
Shareholders' funds
196,430 
175,807 
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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 January 2025 and were signed on its behalf by
Md Mahabub Hossain Director Company Registration No. 09478888
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GB Track Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
GB Track Limited is a private company, limited by shares, registered in England and Wales, registration number 09478888. The registered office is Ferguson House, 113 Cranbrook Road, Ilford, Essex, IG1 4PU, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25%
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GB Track Limited Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 May 2023
4,492 
At 30 April 2024
4,492 
Depreciation
At 1 May 2023
4,492 
At 30 April 2024
4,492 
Net book value
At 30 April 2024
- 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
835 
1,013 
Trade debtors
136,956 
176,600 
Accrued income and prepayments
1,763 
2,140 
139,554 
179,753 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,648 
10,648 
Trade creditors
- 
6,614 
Taxes and social security
7,938 
1,594 
Loans from directors
50,232 
69,798 
Accruals
12,693 
10,586 
81,511 
99,240 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,974 
20,836 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100,000 Ordinary shares of £1 each
100,000 
100,000 
9
Average number of employees
During the year the average number of employees was 5 (2023: 4).
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