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Registered number: 3188226
GB Construction Supplies Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 December 2024
Guy Pearson
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Statement of Changes in Equity 7
Notes to the Financial Statements 8—10
Page 1
Company Information
Directors Mr Adam Glover
Mrs Linda Lister
Mrs Allison Scholefield
Company Number 3188226
Registered Office Triton House, Hare Park Mills
Hare Park Lane
Liversedge
West Yorkshire
WF15 8HN
Accountants Guy Pearson
ACMA
Over The Bridge, 5 Bridge End
Ripponden
Halifax
West Yorkshire
HX6 4DF
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2024.
Directors
The directors who held office during the year were as follows:
Mr Adam Glover
Mrs Linda Lister
Mrs Allison Scholefield
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has 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.
On behalf of the board
Mrs Allison Scholefield
Director
16/09/2025
Page 2
Page 3
Accountant's Report
In accordance with the engagement letter dated 18 October 2018, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 December 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Guy Pearson
16/09/2025
Guy Pearson
ACMA
Over The Bridge, 5 Bridge End
Ripponden
Halifax
West Yorkshire
HX6 4DF
Page 3
Page 4
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 8,686,456 8,740,388
Cost of sales (7,487,649 ) (7,528,253 )
GROSS PROFIT 1,198,807 1,212,135
Administrative expenses (740,663 ) (715,256 )
OPERATING PROFIT 458,144 496,879
Other interest receivable and similar income 3,806 7,545
Interest payable and similar charges (13,451 ) (47,000 )
PROFIT BEFORE TAXATION 448,499 457,424
Tax on Profit (115,101 ) (114,745 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 333,398 342,679
The notes on pages 8 to 10 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 147,806 168,616
147,806 168,616
CURRENT ASSETS
Debtors 5 3,189,264 2,886,316
Cash at bank and in hand 8,722 28,851
3,197,986 2,915,167
Creditors: Amounts Falling Due Within One Year 6 (2,487,857 ) (2,048,473 )
NET CURRENT ASSETS (LIABILITIES) 710,129 866,694
TOTAL ASSETS LESS CURRENT LIABILITIES 857,935 1,035,310
Creditors: Amounts Falling Due After More Than One Year 7 (20,417 ) (55,417 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (32,384 ) (38,907 )
NET ASSETS 805,134 940,986
CAPITAL AND RESERVES
Called up share capital 8 68,000 68,000
Capital redemption reserve 35,115 35,115
Profit and Loss Account 702,019 837,871
SHAREHOLDERS' FUNDS 805,134 940,986
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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 in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mrs Allison Scholefield
Director
16/09/2025
The notes on pages 8 to 10 form part of these financial statements.
Page 6
Page 7
Statement of Changes in Equity
Share Capital Capital Redemption Profit and Loss Account Total
£ £ £ £
As at 1 January 2023 68,000 35,115 1,244,440 1,347,555
Profit for the year and total comprehensive income - - 342,679 342,679
Dividends paid - - (749,248) (749,248)
As at 31 December 2023 and 1 January 2024 68,000 35,115 837,871 940,986
Profit for the year and total comprehensive income - - 333,398 333,398
Dividends paid - - (469,250) (469,250)
As at 31 December 2024 68,000 35,115 702,019 805,134
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Page 8
Notes to the Financial Statements
1. General Information
GB Construction Supplies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 3188226 . The registered office is Triton House, Hare Park Mills, Hare Park Lane, Liversedge, West Yorkshire, WF15 8HN.
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. 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 0%
Plant & Machinery 20.00% straight line
Motor Vehicles 10% straight line
Fixtures & Fittings 33.33% straight line
Computer Equipment 14.29% straight line
2.4. 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 year 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.
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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 13)
13 13
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 18,335 155,346 15,968 46,725 236,374
As at 31 December 2024 18,335 155,346 15,968 46,725 236,374
Depreciation
As at 1 January 2024 5,348 37,896 15,968 8,546 67,758
Provided during the period 1,833 13,050 - 5,927 20,810
As at 31 December 2024 7,181 50,946 15,968 14,473 88,568
Net Book Value
As at 31 December 2024 11,154 104,400 - 32,252 147,806
As at 1 January 2024 12,987 117,450 - 38,179 168,616
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,542,407 1,278,942
Prepayments and accrued income 45,161 15,678
Other debtors 50,000 50,000
Amounts owed by group undertakings 251,696 241,696
1,889,264 1,586,316
Due after more than one year
Amounts owed by group undertakings 1,300,000 1,300,000
3,189,264 2,886,316
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,945,366 1,543,843
Bank loans and overdrafts 35,000 35,000
Corporation tax 121,610 91,041
Other taxes and social security 14,117 25,853
VAT 67,944 71,008
Provision for purchase ledger invoices 233,358 50,991
Accruals and deferred income 70,462 230,737
2,487,857 2,048,473
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 20,417 55,417
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 68,000 68,000
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 469,250 749,248
Dividends were paid in the year to GB Construction Holdings Ltd for onward distribution to the Loan Note holders in GB Construction Supplies (EOT) Ltd.
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