Registered number
13510804
G5 BIRMINGHAM LTD
Filleted Accounts
30 June 2024
G5 BIRMINGHAM LTD
Registered number: 13510804
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 40,913 43,320
Tangible assets 4 43,383 46,197
84,296 89,517
Current assets
Stocks 14,545 29,975
Debtors 5 140,571 129,360
Cash at bank and in hand 16,633 20,764
171,749 180,099
Creditors: amounts falling due within one year 6 (51,003) (74,270)
Net current assets 120,746 105,829
Total assets less current liabilities 205,042 195,346
Creditors: amounts falling due after more than one year 7 (142,066) (147,066)
Net assets 62,976 48,280
Capital and reserves
Called up share capital 100 100
Profit and loss account 62,876 48,180
Shareholders' funds 62,976 48,280
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jahirul Mohammed Haque
Director
Approved by the board on 2 January 2025
G5 BIRMINGHAM LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 15% RBM
Fixtures, fittings, tools and equipment 15% RBM
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 48,134
At 30 June 2024 48,134
Amortisation
At 1 July 2023 4,814
Provided during the year 2,407
At 30 June 2024 7,221
Net book value
At 30 June 2024 40,913
At 30 June 2023 43,320
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 49,214 10,850 60,064
Additions 4,841 - 4,841
At 30 June 2024 54,055 10,850 64,905
Depreciation
At 1 July 2023 12,124 1,743 13,867
Charge for the year 6,289 1,366 7,655
At 30 June 2024 18,413 3,109 21,522
Net book value
At 30 June 2024 35,642 7,741 43,383
At 30 June 2023 37,090 9,107 46,197
5 Debtors 2024 2023
£ £
Trade debtors 139,411 126,971
Other debtors 1,160 2,389
140,571 129,360
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 42,202 73,293
Taxation and social security costs 8,801 977
51,003 74,270
7 Creditors: amounts falling due after one year 2024 2023
£ £
Directors' Loan 142,066 147,066
8 Other information
G5 BIRMINGHAM LTD is a private company limited by shares and incorporated in England. Its registered office is:
536 Coventry Road
Birmingham
B10 0UN
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