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Company registration number: 10162608
GB Investec UK Limited
Unaudited filleted financial statements
02 June 2024
Pearlman Rose
Chartered Accountants
Suite 1, First Floor
Jack Dash House
2 Lawn House Close
London, E14 9YQ
GB Investec UK Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
GB Investec UK Limited
Directors and other information
Director Mr Gurdev Singh Ruprai
Company number 10162608
Registered office 20-22 Wenlock Road
London
England
N1 7GU
Business address Unit G4
Riverside Industrial Estate
Riverside Way
Dartford, Kent
DA1 5BS
Accountants Pearlman Rose
Suite1, First Floor
Jack Dash House
2 Lawn House Close
Docklands
E14 9YQ
Bankers Barclays Bank Plc
GB Investec UK Limited
Statement of financial position
2 June 2024
02/06/24 02/06/23
Note £ £ £ £
Current assets
Stocks 72,449 -
Debtors 4 - 8,899,840
Cash at bank and in hand 55 125
_______ _______
72,504 8,899,965
Creditors: amounts falling due
within one year 5 ( 89,598) ( 8,904,706)
_______ _______
Net current liabilities ( 17,094) ( 4,741)
_______ _______
Total assets less current liabilities ( 17,094) ( 4,741)
_______ _______
Net liabilities ( 17,094) ( 4,741)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 17,095) ( 4,742)
_______ _______
Shareholder deficit ( 17,094) ( 4,741)
_______ _______
For the period ending 02 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 February 2025 , and are signed on behalf of the board by:
Mr Gurdev Singh Ruprai
Director
Company registration number: 10162608
GB Investec UK Limited
Statement of changes in equity
Period ended 2 June 2024
Called up share capital Profit and loss account Total
£ £ £
At 2 June 2022 1 ( 31,455) ( 31,454)
(Loss)/profit for the period 26,713 26,713
_______ _______ _______
Total comprehensive income for the period - 26,713 26,713
_______ _______ _______
At 2 June 2023 and 3 June 2023 1 ( 4,742) ( 4,741)
(Loss)/profit for the period ( 12,353) ( 12,353)
_______ _______ _______
Total comprehensive income for the period - ( 12,353) ( 12,353)
_______ _______ _______
At 2 June 2024 1 ( 17,095) ( 17,094)
_______ _______ _______
GB Investec UK Limited
Notes to the financial statements
Period ended 2 June 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 20-22 Wenlock Road, London, England, N1 7GU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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 stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
02/06/24 02/06/23
£ £
Trade debtors - 5,169,569
Other debtors - 3,730,271
_______ _______
- 8,899,840
_______ _______
5. Creditors: amounts falling due within one year
02/06/24 02/06/23
£ £
Trade creditors 4,740 7,950
Other creditors 84,858 8,896,756
_______ _______
89,598 8,904,706
_______ _______
6. Related party transactions
During the period the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
Year Period Year Period
ended ended ended ended
02/06/24 02/06/23 02/06/24 02/06/23
£ £ £ £
Inventica Investments Ltd - - ( 50,958) ( 8,863,156)
_______ _______ _______ _______
The company is controlled by the director G S Ruprai, who is also the only shareholder.