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REGISTERED NUMBER: 01772597 (England and Wales)















GBSG LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






GBSG LTD (REGISTERED NUMBER: 01772597)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


GBSG LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr S C Wright
Mrs H E Wright
Mr N M Jackson
Mr D Simpson
Mr T Wright



SECRETARY: Mr J A Walton



REGISTERED OFFICE: High Street
Donington
Spalding
Lincs
PE11 4TA



REGISTERED NUMBER: 01772597 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT



SOLICITORS: Chattertons
28 Wide Bargate
Boston
Lincolnshire
PE21 6RT

GBSG LTD (REGISTERED NUMBER: 01772597)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 218,917 186,262
Investments 6 - 5,000
218,917 191,262

CURRENT ASSETS
Stocks 655,084 271,642
Debtors 7 878,371 853,317
Cash at bank 645,047 368,751
2,178,502 1,493,710
CREDITORS
Amounts falling due within one year 8 1,800,670 1,063,040
NET CURRENT ASSETS 377,832 430,670
TOTAL ASSETS LESS CURRENT LIABILITIES 596,749 621,932

PROVISIONS FOR LIABILITIES 9,054 -
NET ASSETS 587,695 621,932

CAPITAL AND RESERVES
Called up share capital 10 6,800 6,800
Share premium 5,059 5,059
Retained earnings 575,836 610,073
SHAREHOLDERS' FUNDS 587,695 621,932

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 August 2025 and were signed on its behalf by:



Mr N M Jackson - Director


GBSG LTD (REGISTERED NUMBER: 01772597)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

GBSG LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable to customers for the installation and maintenance of fire and security systems provided during the year, excluding value added tax. Revenue is recognised in the period in which services are performed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 10% on cost, Straight line over 20 years and Straight line over 5 years

Tangible fixed assets are held at cost less depreciation.

Stocks
Stock is valued at the lower of cost and sales price less estimated cost to sell. Cost is determined on an average cost basis and, where applicable, includes all direct expenditure and an appropriate proportion of overheads. Work in progress is valued at cost of materials and an uplifted labour charge to cover overheads.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


GBSG LTD (REGISTERED NUMBER: 01772597)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments are stated at cost less any provision for permanent diminution in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 30,000
AMORTISATION
At 1 January 2024
and 31 December 2024 30,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

GBSG LTD (REGISTERED NUMBER: 01772597)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 1,142,521
Additions 92,202
Disposals (13,628 )
At 31 December 2024 1,221,095
DEPRECIATION
At 1 January 2024 956,259
Charge for year 58,249
Eliminated on disposal (12,330 )
At 31 December 2024 1,002,178
NET BOOK VALUE
At 31 December 2024 218,917
At 31 December 2023 186,262


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024 5,000
Disposals (5,000 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 5,000

The investment represented 5,000 ordinary shares in a related company, George Barnsdale & Sons Limited, incorporated in England and Wales, on 31 March 2001.

In the year, the investments were sold to a related party for consideration equivalent to market value. The market value of the shares at date of disposal was determined by directors valuation.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 639,211 622,601
Other debtors 239,160 230,716
878,371 853,317

GBSG LTD (REGISTERED NUMBER: 01772597)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 817,483 629,657
Taxation and social security 65,743 84,746
Other creditors 917,444 348,637
1,800,670 1,063,040

9. SECURED DEBTS

Lloyds Bank plc have a fixed and floating charge over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
6,800 Ordinary £1 6,800 6,800