Company Registration No. 12288690 (England and Wales)
GBD Ductwork Ltd
Unaudited accounts
for the year ended 31 October 2024
GBD Ductwork Ltd
Unaudited accounts
Contents
GBD Ductwork Ltd
Company Information
for the year ended 31 October 2024
Directors
Benjamin David Reed
Gavin David Reed
Daniel Brian McLeish
Secretary
Benjamin David Reed
Company Number
12288690 (England and Wales)
Registered Office
29 SAXON WAY
ROMSEY
SO51 5QP
ENGLAND
Accountants
N L Accounting (South West) Ltd
Unit 7, Town Farm Workshops
Sixpenny Handley
Salisbury
Wiltshire
SP5 5PA
GBD Ductwork Ltd
Statement of financial position
as at 31 October 2024
Tangible assets
22,338
26,067
Cash at bank and in hand
45,592
40,790
Creditors: amounts falling due within one year
(75,235)
(58,689)
Net current assets
29,632
38,934
Called up share capital
3
3
Profit and loss account
51,967
64,998
Shareholders' funds
51,970
65,001
For the year ending 31 October 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 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 of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by
Benjamin David Reed
Director
Company Registration No. 12288690
GBD Ductwork Ltd
Notes to the Accounts
for the year ended 31 October 2024
GBD Ductwork Ltd is a private company, limited by shares, registered in England and Wales, registration number 12288690. The registered office is 29 SAXON WAY, ROMSEY, SO51 5QP, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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:
Plant & machinery
20% Straight Line
GBD Ductwork Ltd
Notes to the Accounts
for the year ended 31 October 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2023
3,688
20,000
4,637
28,325
Disposals
-
-
(1,124)
(1,124)
At 31 October 2024
3,688
20,000
8,076
31,764
At 1 November 2023
1,035
333
890
2,258
Charge for the year
1,216
3,933
2,019
7,168
At 31 October 2024
2,251
4,266
2,909
9,426
At 31 October 2024
1,437
15,734
5,167
22,338
At 31 October 2023
2,653
19,667
3,747
26,067
Work in progress
41,291
44,999
Amounts falling due within one year
Trade debtors
14,393
7,886
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
5,260
18,125
Taxes and social security
42,810
35,942
Loans from directors
4,808
3,872
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
GBD Ductwork Ltd
Notes to the Accounts
for the year ended 31 October 2024
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).