Registered number
02102227
Grubb & Banks Building Services Limited
Filleted Accounts
31 January 2025
Grubb & Banks Building Services Limited
Registered number: 02102227
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 14,397 19,178
Current assets
Stocks 4,500 5,500
Debtors 4 192,819 106,408
Cash at bank and in hand 220,987 195,554
418,306 307,462
Creditors: amounts falling due within one year 5 (151,383) (149,118)
Net current assets 266,923 158,344
Total assets less current liabilities 281,320 177,522
Creditors: amounts falling due after more than one year 6 (5,598) (17,165)
Provisions for liabilities (3,598) (3,569)
Net assets 272,124 156,788
Capital and reserves
Called up share capital 1,000 1,000
Capital redemption reserve 1,000 1,000
Profit and loss account 270,124 154,788
Shareholders' funds 272,124 156,788
The director is 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 director acknowledges his 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.
Mr M J Banks
Director
Approved by the board on 10 July 2025
Grubb & Banks Building Services Limited
Notes to the Accounts
for the year ended 31 January 2025
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.
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:
Office equipment over 3 years
Motor vehicles 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.
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 2025 2024
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 February 2024 7,771 71,530 79,301
Additions 2,056 - 2,056
Surplus on revaluation (2,012) - (2,012)
Disposals - (12,295) (12,295)
At 31 January 2025 7,815 59,235 67,050
Depreciation
At 1 February 2024 4,458 55,665 60,123
Charge for the year 2,579 3,869 6,448
Surplus on revaluation (2,012) - (2,012)
On disposals - (11,906) (11,906)
At 31 January 2025 5,025 47,628 52,653
Net book value
At 31 January 2025 2,790 11,607 14,397
At 31 January 2024 3,313 15,865 19,178
4 Debtors 2025 2024
£ £
Trade debtors 160,998 65,639
Other debtors 31,821 40,769
192,819 106,408
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 1,477 4,338
Trade creditors 51,958 80,197
Taxation and social security costs 77,123 41,216
Other creditors 10,825 13,367
151,383 149,118
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 5,598 15,688
Obligations under finance lease and hire purchase contracts - 1,477
5,598 17,165
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr M J Banks
Director' Loan Account (29,467) (19,739) 35,979 (13,227)
Mrs S Banks - appointed 2/5/2024
Director's Loan Account - (34,472) 21,246 (13,226)
(29,467) (54,211) 57,225 (26,453)
These were repaid by a dividend voted on 31/5/2025.
8 Related party transactions
During the year the company had a loan from Mrs E L Banks; whom is the mother of Mr M J Banks who is the director and one of the shareholders of the company. £300 of repayments were made in the year. No interest was charged on this loan and therfore this is below normal market value. The balance owed to Mrs E L Banks at 31/1/2025 was £nil (2024: £300) and is presented within other creditors due within one year.
9 Controlling party
Mr & Mrs M J Banks are the controlling parties of Grubb & Banks Building Services Limited by virtue of their shareholding within the company.
10 Other information
Grubb & Banks Building Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 12 Basepoint
Waterberry Drive
Waterlooville
Hampshire
PO7 7TH
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