2023-06-01 2024-05-31 09607559 GBMS TECH LTD false 09607559 2023-06-01 2024-05-31 09607559 uk-bus:Director1 2023-06-01 2024-05-31 09607559 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09607559 uk-bus:SmallEntities 2023-06-01 2024-05-31 09607559 uk-bus:FullAccounts 2023-06-01 2024-05-31 09607559 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09607559 2023-06-01 09607559 2024-05-31 09607559 2023-05-31 xbrli:pure iso4217:GBP 09607559 2022-06-01 2023-05-31
Company Registration Number : 09607559 (England and Wales)
09607559
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-05-31
false
GBMS TECH LTD
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2023-06-01
GBMS TECH LTD
Unaudited filleted financial statements
For the year ended 31 May 2024
GBMS TECH LTD
Contents
For the year ended 31 May 2024

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 6


GBMS TECH LTD
Company Information
For the year ended 31 May 2024

Company registration number 09607559 (England and Wales)
Directors A E Allen
K A Miles-Kingston
P J Morrison
S T V Simmons
M Lithgow Cbe Ceng Fiet
Registered office address 2nd Floor, Berkeley Square House
Berkeley Square
London
W1J 6DB
Accountant Phil Bessant Limited
Chartered Management Accountants
Agincourt House
14 Clytha Park Road
Newport
NP20 4PB
GBMS TECH LTD
Statement of Financial Position
For the year ended 31 May 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 10,692,158 10,692,158
Property, plant and equipment 3,169 5,472
5 10,695,327 10,697,630
Current assets
Inventories 110,918 111,239
Debtors 1,063,965 803,883
Corporation tax receivable 172,016 172,016
Cash and cash equivalents 61,867 26,216
1,408,766 1,113,354
Current liabilities
Creditors: Amounts falling due within one year (690,568) (272,041)
(690,568) (272,041)
Net current assets/(liabilities) 718,198 841,313
Total assets less current liabilities 11,413,526 11,538,943
Net assets/(liabilities) 11,413,526 11,538,943
Capital and reserves
Called up share capital 14,298,555 14,298,555
Share Premium 1,396,367 1,396,367
Retained earnings (4,281,396) (4,155,979)
Shareholder's funds 11,413,526 11,538,943
For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 May 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 directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 14 February 2025
.............................
S T V Simmons (Director)
Company registration number: 09607559
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2024-05-31 31 May 2024
2024 2023
£ £
Fixed Assets 10,695,327 10,697,630
Current Assets 1,400,213 1,104,801
Prepayments and accrued income 8,553 8,553
Creditors: amounts falling due within one year (690,568) (272,041)
Net current assets (liabilities) 718,198 841,313
Total assets less current liabilities 11,413,526 11,538,943
Net Assets (liabilities) 11,413,526 11,538,943
Capital and Reserves 11,413,526 11,538,943
For the year ending 31/05/2024 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. For the year ending 31-05-2024 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 for the year in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 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 in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 14 February 2025 2025-02-14 and signed on behalf of the board,
.............................
S T V Simmons
Director
Company registration number: 09607559
GBMS TECH LTD
Notes to the Financial Statements
For the year ended 31 May 2024

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 2nd Floor, Berkeley Square House, Berkeley Square, London, W1J 6DB.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings20% straight line
Equipment
Motor Cars
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement 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 current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

(4) Employees
During the year, the average number of employees including director was 6 (2023 : 6).

(5) Fixed assets
Intangible

£
Tangible

£
Totals

£
Cost
As at 01 June 202310,692,15817,23010,709,388
Additions-1,1451,145
As at 31 May 202410,692,15818,37510,710,533
Depreciation/Amortisation
As at 01 June 2023-11,75811,758
For the year-3,4483,448
As at 31 May 2024-15,20615,206
Net book value
As at 31 May 202410,692,1583,16910,695,327
As at 31 May 202310,692,1585,47210,697,630