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Registered number: 01921190
GBR Technology Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Company Information 1
Directors' Report 2
Accountants' Report 3
Statement of Income and Retained Earnings 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
Page 1
Company Information
Directors Mr G Kenneth
Mr P Morris
Company Number 01921190
Registered Office Unit 42 Easter Park
Benyon Road, Silchester
Reading
Berkshire
RG7 2PQ
Accountants Charlton Baker
7-7c Snuff Street
Devizes
Wiltshire
SN10 1DU
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 30 June 2024.
Directors
The directors who held office during the year were as follows:
Mr G Kenneth
Mr P Morris
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr P Morris
Director
14/02/2025
Page 2
Page 3
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of GBR Technology Limited for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GBR Technology Limited for the year ended 30 June 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of GBR Technology Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of GBR Technology Limited and state those matters that we have agreed to state to the directors of GBR Technology Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GBR Technology Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that GBR Technology Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of GBR Technology Limited . You consider that GBR Technology Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of GBR Technology Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
14/02/2025
Charlton Baker
7-7c Snuff Street
Devizes
Wiltshire
SN10 1DU
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Statement of Income and Retained Earnings
2024 2023
Notes £ £
TURNOVER 6,768,307 6,249,072
Cost of sales (4,505,213 ) (4,251,869 )
GROSS PROFIT 2,263,094 1,997,203
Distribution costs (861,682 ) (770,214 )
Administrative expenses (776,055 ) (651,253 )
OPERATING PROFIT 625,357 575,736
Other interest receivable and similar income 615 190
PROFIT BEFORE TAXATION 625,972 575,926
Tax on Profit (161,740 ) (125,035 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 464,232 450,891
RETAINED EARNINGS
As at 1 July 2023 1,538,306 1,295,322
Dividends paid (220,176) (207,907)
As at 30 June 2024 1,782,362 1,538,306
The notes on pages 7 to 9 form part of these financial statements.
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Page 5
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 54,740 53,416
54,740 53,416
CURRENT ASSETS
Stocks 5 868,598 846,882
Debtors 6 967,291 1,191,182
Cash at bank and in hand 837,236 531,597
2,673,125 2,569,661
Creditors: Amounts Falling Due Within One Year 7 (929,440 ) (1,070,265 )
NET CURRENT ASSETS (LIABILITIES) 1,743,685 1,499,396
TOTAL ASSETS LESS CURRENT LIABILITIES 1,798,425 1,552,812
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,685 ) (12,128 )
NET ASSETS 1,784,740 1,540,684
CAPITAL AND RESERVES
Called up share capital 8 1,105 1,105
Share premium account 1,273 1,273
Profit and Loss Account 1,782,362 1,538,306
SHAREHOLDERS' FUNDS 1,784,740 1,540,684
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For the year ending 30 June 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 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 provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr P Morris
Director
14/02/2025
The notes on pages 7 to 9 form part of these financial statements.
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Page 7
Notes to the Financial Statements
1. General Information
GBR Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01921190 . The registered office is Unit 42 Easter Park, Benyon Road, Silchester, Reading, Berkshire, RG7 2PQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% on cost
Leasehold 20% on cost
Plant & Machinery 20% on cost
Motor Vehicles 20% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 20% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income 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 liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 19)
19 19
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 July 2023 49,784 91,526 114,105 255,415
Additions - 24,775 - 24,775
As at 30 June 2024 49,784 116,301 114,105 280,190
Depreciation
As at 1 July 2023 44,880 77,547 79,572 201,999
Provided during the period 4,904 18,547 - 23,451
As at 30 June 2024 49,784 96,094 79,572 225,450
Net Book Value
As at 30 June 2024 - 20,207 34,533 54,740
As at 1 July 2023 4,904 13,979 34,533 53,416
5. Stocks
2024 2023
£ £
Stock 868,598 846,882
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 807,123 972,314
Other debtors 160,168 218,868
967,291 1,191,182
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 484,359 746,547
Other creditors 104,019 58,856
Taxation and social security 341,062 264,862
929,440 1,070,265
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,105 1,105
9. Related Party Transactions
G A Kenneth has an interest in Oakland Capital Management Limited, a company providing consultany serices to GBR Technology Limited. In the year ended 30th June 2024 payments amounting to £20,907 (2023 £19,535) were made to this company.
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