GB CREATIONS LLP

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

Registered number: OC396709

		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		192,679		251,934

			192,679		251,934
CURRENT ASSETS
Stocks	5	45,715		46,847
Debtors	6	270		1,363
Cash at bank and in hand		10,589		5,275

		56,574		53,485
Creditors: Amounts Falling Due Within One Year	7	(26,827 )		(34,505 )

NET CURRENT ASSETS (LIABILITIES)			29,747		18,980

TOTAL ASSETS LESS CURRENT LIABILITIES			222,426		270,914

Creditors: Amounts Falling Due After More Than One Year	8		(108,426 )		(132,858 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			114,000		138,056

REPRESENTED BY:
Equity
Members' other interests
Members' capital		849,376		873,432
Other reserves		(735,376)		(735,376)

			114,000		138,056

TOTAL MEMBERS' INTEREST
Members' other interests			114,000		138,056

			114,000		138,056

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GB CREATIONS LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

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

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

On behalf of the members

Mr Paul Thomas

Designated Member

15/12/2025

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

1. General Information

GB CREATIONS LLP is a limited liability partnership, incorporated in England & Wales, registered number OC396709 . The Registered Office is Waterfront House, 55-61 South Street, Bishop's Stortford, Hertfordshire, CM23 3AL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Going Concern Disclosure

After reviewing the entities forecasts and projections, the members have a reasonable expectation that the LLP

has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore

continues to adopt the going concern basis in preparing its financial statements.

2.3. Significant judgements and estimations

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed. Where amounts are received in advance the recognition is deferred until such a time that the above conditions have been met.

2.5. 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:

Plant & Machinery	25% reducing balance
Motor Vehicles	10% of cost in GBP

2.6. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.7. Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.8. Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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GB CREATIONS LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.9. Provisions

Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation , and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking in to account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

2.10. Debtors and creditors receivable/payable in one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include deposits held at call with banks.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2024	324,186

As at 31 March 2025	324,186

Depreciation
As at 1 April 2024	72,252
Provided during the period	59,255

As at 31 March 2025	131,507

Net Book Value
As at 31 March 2025	192,679

As at 1 April 2024	251,934

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	31 March 2025	31 March 2024
	£	£
Motor Vehicles	106,162	141,549

5. Stocks

	31 March 2025	31 March 2024
	£	£
Stock	45,715	46,847

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GB CREATIONS LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	31 March 2025	31 March 2024
	£	£
Due within one year
Other debtors	270	1,363

7. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Net obligations under finance lease and hire purchase contracts	14,432	14,432
Trade creditors	645	9,651
Bank loans and overdrafts	10,000	10,002
Other creditors	-	420
Accruals and deferred income	1,750	-

	26,827	34,505

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

	31 March 2025	31 March 2024
	£	£
Net obligations under finance lease and hire purchase contracts	105,926	120,358
Bank loans	2,500	12,500

	108,426	132,858

9. Secured Creditors

Of the creditors the following amounts are secured.

	31 March 2025		31 March 2024
	£		£
Net obligations under finance lease and hire purchase contracts	120,358		134,790

10. Obligations Under Finance Leases and Hire Purchase

	31 March 2025	31 March 2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	14,432	14,432
Later than one year and not later than five years	105,926	120,358

	120,358	134,790

	120,358	134,790

11. Contingent Liabilities

There is a cross guarantee in place with entities connected with key management personnel which have total loans of £1,012,068 (2023: £1,112,650) covered by this guarantee.

12. Related Party Transactions

During the period the LLP was charged £12,370 (2023: £16,615) for services provided by entities connected with key management personnel.

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