Geloo Brothers Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 01947051

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		19,969		26,625
Tangible Assets	5		152,185		162,103
Investments	6		569,977		569,977

			742,131		758,705
CURRENT ASSETS
Stocks	7	276,705		251,926
Debtors	8	2,153,795		1,796,424
Cash at bank and in hand		91,085		411,485

		2,521,585		2,459,835
Creditors: Amounts Falling Due Within One Year	9	(463,262 )		(527,832 )

NET CURRENT ASSETS (LIABILITIES)			2,058,323		1,932,003

TOTAL ASSETS LESS CURRENT LIABILITIES			2,800,454		2,690,708

Creditors: Amounts Falling Due After More Than One Year	10		(90,000 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation			(4,848 )		(6,698 )

NET ASSETS			2,705,606		2,684,010

CAPITAL AND RESERVES
Called up share capital	11		711,004		711,004
Share premium account			473,103		473,103
Capital redemption reserve			703,300		703,300
Profit and Loss Account			818,199		796,603

SHAREHOLDERS' FUNDS			2,705,606		2,684,010

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Geloo Brothers Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Sirajudin Ibrahim Geloo

Director

04/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Geloo Brothers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01947051 . The registered office is GBL House, Cleaver Street, Blackburn, Lancashire, BB1 5DG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% straight line
Leasehold	Over the life of lease
Motor Vehicles	25% reducing balance
Fixtures & Fittings	15% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Geloo Brothers Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 34 (2023: 34)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	1,328,394

As at 31 December 2024	1,328,394

Amortisation
As at 1 January 2024	1,301,769
Provided during the period	6,656

As at 31 December 2024	1,308,425

Net Book Value
As at 31 December 2024	19,969

As at 1 January 2024	26,625

5. Tangible Assets

	Land & Property
	Freehold	Leasehold	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 January 2024	125,826	10,500	38,209	374,495	549,030

As at 31 December 2024	125,826	10,500	38,209	374,495	549,030

Depreciation
As at 1 January 2024	7,048	10,500	24,509	344,870	386,927
Provided during the period	1,762	-	3,425	4,731	9,918

As at 31 December 2024	8,810	10,500	27,934	349,601	396,845

Net Book Value
As at 31 December 2024	117,016	-	10,275	24,894	152,185

As at 1 January 2024	118,778	-	13,700	29,625	162,103

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Geloo Brothers Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Investments

	Subsidiaries	Associates	Total
	£	£	£
Cost
As at 1 January 2024	325,976	244,001	569,977

As at 31 December 2024	325,976	244,001	569,977

Provision
As at 1 January 2024	-	-	-

As at 31 December 2024	-	-	-

Net Book Value
As at 31 December 2024	325,976	244,001	569,977

As at 1 January 2024	325,976	244,001	569,977

7. Stocks

	2024	2023
	£	£
Stock	276,705	251,926

8. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	347,849	337,610
Amounts owed by group undertakings	1,754,344	1,408,944
Other debtors	51,602	49,870

	2,153,795	1,796,424

9. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	449,670	499,237
Other creditors	13,592	28,595

	463,262	527,832

10. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Other loans	90,000	-

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	711,004	711,004

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