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Registration number: 11876037

G N Bean Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

G N Bean Limited

(Registration number: 11876037)

Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Current assets

 

Debtors

4

941,466

840,347

Other financial assets

3

2,705,594

2,629,708

Cash at bank and in hand

 

59,020

105,256

 

3,706,080

3,575,311

Creditors: Amounts falling due within one year

5

(785,442)

(679,222)

Total assets less current liabilities

 

2,920,638

2,896,089

Provisions for liabilities

(194,983)

(201,015)

Net assets

 

2,725,655

2,695,074

Capital and reserves

 

Called up share capital

21,000

21,000

Share premium reserve

2,022,476

2,022,476

Retained earnings

682,179

651,598

Shareholders' funds

 

2,725,655

2,695,074

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 30 July 2025 and signed on its behalf by:
 

.........................................

Mr A J B Smith

Director

 

G N Bean Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

Accounting policies

Statutory information

G N Bean Limited is a private company, limited by shares, domiciled in England and Wales, company number 11876037. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, S10 2QD.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

G N Bean Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

1

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investments

Investments in shares are included at fair value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

3

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Current financial assets

Cost or valuation

At 1 April 2024

2,629,708

Additions

100,015

Fair value adjustments

(24,129)

At 31 March 2025

2,705,594

The historical cost of the current financial assets is £1,925,664 (2024: £1,825,649)

 

G N Bean Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Debtors

2025
£

2024
£

Other debtors

941,466

840,347

 

941,466

840,347

5

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

6,063

-

Accruals and deferred income

3,020

2,850

Other creditors

-

13

Directors' loan account

776,359

676,359

785,442

679,222

6

Related party transactions

The directors' loan account included in creditors is interest free.