Registration number:
G N Bean Limited
for the Year Ended 31 March 2025
G N Bean Limited
(Registration number: 11876037)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Current assets |
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Debtors |
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Other financial assets |
2,705,594 |
2,629,708 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Retained earnings |
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Shareholders' funds |
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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:
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• |
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• |
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.
.........................................
Mr A J B Smith
Director
G N Bean Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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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)
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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
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Other financial assets (current and non-current) |
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Financial assets at fair value through profit and loss |
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Current financial assets |
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Cost or valuation |
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At 1 April 2024 |
2,629,708 |
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Additions |
100,015 |
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Fair value adjustments |
(24,129) |
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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)
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Debtors |
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2025 |
2024 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Taxation and social security |
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- |
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Accruals and deferred income |
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Other creditors |
- |
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Directors' loan account |
776,359 |
676,359 |
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Related party transactions |
The directors' loan account included in creditors is interest free.