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REGISTERED NUMBER: 03171349 (England and Wales)



















GREAT BRITISH FINANCE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






GREAT BRITISH FINANCE LTD (REGISTERED NUMBER: 03171349)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


GREAT BRITISH FINANCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mr K P Smith





REGISTERED OFFICE: Johnson Tidsall
81 Burton Road
Derby
Derbyshire
DE1 1TJ





BUSINESS ADDRESS: 19 High Street
SWADLINCOTE
Derbyshire
DE11 8JE





REGISTERED NUMBER: 03171349 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

GREAT BRITISH FINANCE LTD (REGISTERED NUMBER: 03171349)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,633 27,584

CURRENT ASSETS
Stocks 5 799 2,397
Debtors 6 172,072 155,734
Cash at bank and in hand 531,718 532,663
704,589 690,794
CREDITORS
Amounts falling due within one year 7 170,283 177,614
NET CURRENT ASSETS 534,306 513,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

559,939

540,764

PROVISIONS FOR LIABILITIES 5,586 6,483
NET ASSETS 554,353 534,281

CAPITAL AND RESERVES
Called up share capital 8 2,521 2,521
Capital redemption reserve 1,530 1,530
Retained earnings 550,302 530,230
SHAREHOLDERS' FUNDS 554,353 534,281

GREAT BRITISH FINANCE LTD (REGISTERED NUMBER: 03171349)

BALANCE SHEET - continued
30 APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2025 and were signed by:





Mr K P Smith - Director


GREAT BRITISH FINANCE LTD (REGISTERED NUMBER: 03171349)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Great British Finance Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from the provision of financial services and represents net invoiced sales of services, less a clawback provision.

However turnover from Service contracts is recognised when the company obtains the rights to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the property lease
Fixtures and fittings - 20% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GREAT BRITISH FINANCE LTD (REGISTERED NUMBER: 03171349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 May 2023 4,005 53,458 57,463
Additions - 5,309 5,309
Disposals (203 ) (160 ) (363 )
At 30 April 2024 3,802 58,607 62,409
DEPRECIATION
At 1 May 2023 4,005 25,874 29,879
Charge for year - 7,160 7,160
Eliminated on disposal (203 ) (60 ) (263 )
At 30 April 2024 3,802 32,974 36,776
NET BOOK VALUE
At 30 April 2024 - 25,633 25,633
At 30 April 2023 - 27,584 27,584

5. STOCKS
2024 2023
£    £   
Stocks 799 2,397

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 98,504 91,378
Other debtors 58,875 48,236
Prepayments and accrued income 14,693 16,120
172,072 155,734

GREAT BRITISH FINANCE LTD (REGISTERED NUMBER: 03171349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,189 6,851
Corporation tax 63,046 69,770
Social security and other taxes 1,952 2,342
Other creditors 1,378 1,655
Directors' current accounts 3,664 2,310
Accruals and deferred income 97,054 94,686
170,283 177,614

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
120 Ordinary £1 120 120
1,201 Ordinary A £1 1,201 1,201
1,200 Ordinary B £1 1,200 1,200
2,521 2,521

9. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £41,809 (2023 - £56,350).

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr K P Smith
Balance outstanding at start of year - -
Amounts advanced - 440
Amounts repaid - (440 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The amounts are interest free and have no formal repayment terms.

11. RELATED PARTY DISCLOSURES

2024 2023
£ £
Amounts due to the director at the balance sheet date 3,664 2,310
The amounts are interest free and have no formal repayment terms.