17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 20,650 19,253 961 20,214 436 1,397 xbrli:pure xbrli:shares iso4217:GBP 10930307 2023-09-01 2024-08-31 10930307 2024-08-31 10930307 2023-08-31 10930307 2022-09-01 2023-08-31 10930307 2023-08-31 10930307 2022-08-31 10930307 core:FurnitureFittings 2023-09-01 2024-08-31 10930307 bus:Director1 2023-09-01 2024-08-31 10930307 core:FurnitureFittings 2023-08-31 10930307 core:FurnitureFittings 2024-08-31 10930307 core:WithinOneYear 2024-08-31 10930307 core:WithinOneYear 2023-08-31 10930307 core:AfterOneYear 2024-08-31 10930307 core:AfterOneYear 2023-08-31 10930307 core:ShareCapital 2024-08-31 10930307 core:ShareCapital 2023-08-31 10930307 core:RetainedEarningsAccumulatedLosses 2024-08-31 10930307 core:RetainedEarningsAccumulatedLosses 2023-08-31 10930307 core:FurnitureFittings 2023-08-31 10930307 bus:SmallEntities 2023-09-01 2024-08-31 10930307 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10930307 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10930307 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10930307 bus:FullAccounts 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: 10930307
GMB Inns Ltd
Filleted Unaudited Financial Statements
31 August 2024
GMB Inns Ltd
Financial Statements
Year ended 31 August 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
GMB Inns Ltd
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
436
1,397
Current assets
Stocks
5,963
4,320
Debtors
6
5,817
Cash at bank and in hand
3,629
6,239
-------
--------
9,592
16,376
Creditors: amounts falling due within one year
7
196,045
200,890
---------
---------
Net current liabilities
186,453
184,514
---------
---------
Total assets less current liabilities
( 186,017)
( 183,117)
Creditors: amounts falling due after more than one year
8
110,716
126,734
---------
---------
Net liabilities
( 296,733)
( 309,851)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 296,833)
( 309,951)
---------
---------
Shareholders deficit
( 296,733)
( 309,851)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question 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 financial statements .
GMB Inns Ltd
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 28 May 2025 , and are signed on behalf of the board by:
Mr G J Bevan
Director
Company registration number: 10930307
GMB Inns Ltd
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company is forecast to continue to meet its current obligations.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 17 ).
5. Tangible assets
Fixtures & Fittings
Total
£
£
Cost
At 1 September 2023 and 31 August 2024
20,650
20,650
--------
--------
Depreciation
At 1 September 2023
19,253
19,253
Charge for the year
961
961
--------
--------
At 31 August 2024
20,214
20,214
--------
--------
Carrying amount
At 31 August 2024
436
436
--------
--------
At 31 August 2023
1,397
1,397
--------
--------
6. Debtors
2024
2023
£
£
Other debtors
5,817
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,007
5,096
Trade creditors
95,674
84,037
Social security and other taxes
73,438
91,995
Other creditors
20,926
19,762
---------
---------
196,045
200,890
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
110,716
126,734
---------
---------
9. Related party transactions
At the year end the company owed the directors £269 (2023: £2,326).