Registered number
06370516
GEE BEE ENTERPRISES LIMITED
Unaudited Filleted Accounts
30 September 2024
GEE BEE ENTERPRISES LIMITED
Registered number: 06370516
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 958 958
Tangible assets 4 229,083 226,942
230,041 227,900
Current assets
Stocks 2,342,603 1,741,632
Debtors 5 1,903,871 1,339,169
Cash at bank and in hand 1,023,379 1,602,957
5,269,853 4,683,758
Creditors: amounts falling due within one year 6 (1,221,584) (1,422,081)
Net current assets 4,048,269 3,261,677
Total assets less current liabilities 4,278,310 3,489,577
Creditors: amounts falling due after more than one year 7 (37,570) (107,520)
Provisions for liabilities (12,736) -
Net assets 4,228,004 3,382,057
Capital and reserves
Called up share capital 250,100 250,100
Profit and loss account 3,977,904 3,131,957
Shareholders' funds 4,228,004 3,382,057
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.
Ms R Bijlani Mr A Bijlani
Director Director
Approved by the board on 25 June 2025
GEE BEE ENTERPRISES LIMITED
Notes to the Accounts
for the year ended 30 September 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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 costs over the lease term
Plant, machinery and motor vehicles 20% on cost
Fixtures and fittings 25% reducing balance
Computer equipment 25% reducing balance
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 20
3 Intangible fixed assets
Goodwill Patents and Licenses Total
£ £ £
Cost
At 1 October 2023 200,000 958 200,958
At 30 September 2024 200,000 958 200,958
Amortisation
At 1 October 2023 200,000 - 200,000
At 30 September 2024 200,000 - 200,000
Net book value
At 30 September 2024 - 958 958
At 30 September 2023 - 958 958
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Leasehold Plant, machinery, motor vehicles and computers etc Fixtures and fittings Total
£ £ £ £
Cost
At 1 October 2023 103,924 248,566 148,930 501,420
Additions 35,816 2,462 25,774 64,052
At 30 September 2024 139,740 251,028 174,704 565,472
Depreciation
At 1 October 2023 6,928 136,496 131,054 274,478
Charge for the year 9,487 41,512 10,912 61,911
At 30 September 2024 16,415 178,008 141,966 336,389
Net book value
At 30 September 2024 123,325 73,020 32,738 229,083
At 30 September 2023 96,996 112,070 17,876 226,942
5 Debtors 2024 2023
£ £
Trade debtors 1,454,547 1,297,126
Amounts owed by group companies 166,013 -
Other debtors 283,311 30,324
Goods in Transit - 11,719
1,903,871 1,339,169
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,058 7,475
Obligations under finance lease and hire purchase contracts 11,622 9,119
Trade creditors 726,734 594,775
Amounts owed to subsidiary company - 37,000
Taxation and social security costs 407,633 652,626
Other creditors 67,537 121,086
1,221,584 1,422,081
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 37,570 49,193
Other creditors - 58,327
37,570 107,520
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 1,902,498 2,015,000
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr A Bijlani
Loan to director - 202,663 - 202,663
- 202,663 - 202,663
The loan which is interest bearing was repaid in full in June 2025.
10 Controlling party
The company's controlling party is Gee Bee Group Limited, a company registered in England.
11 Other information
GEE BEE ENTERPRISES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
24 Wadsworth Road
Perivale
Greenford
Middlesex
UB6 7JD
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