GJB Automotives Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12144328

GJB Automotives Limited

Filleted Unaudited Financial Statements

31 March 2025

GJB Automotives Limited

Financial Statements

Period ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

GJB Automotives Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	27,538	40,833
Tangible assets	6	571,795	582,890
		---------	---------
		599,333	623,723

Current assets

Stocks		2,609	2,832
Debtors	7	204,429	146,704
Cash at bank and in hand		24,873	45,987
		---------	---------
		231,911	195,523

Creditors: amounts falling due within one year	8	702,540	561,712
		---------	---------
Net current liabilities		470,629	366,189
		---------	---------
Total assets less current liabilities		128,704	257,534

Creditors: amounts falling due after more than one year	9	18,200	163,764

Provisions	7,463	10,257
	---------	---------
Net assets	103,041	83,513
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	102,941	83,413
	---------	--------
Shareholders funds	103,041	83,513
	---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

GJB Automotives Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

Mr L S McKay
Director

Company registration number: 12144328

GJB Automotives Limited

Notes to the Financial Statements

Period ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Bms Industrial Estate, Dengemarsh Road, Lydd, Kent, TN29 9JH, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	20% straight line
Plant and machinery	-	20% straight line
Motor vehicles	-	25% straight line
Equipment	-	25% straight line

Freehold land and property is not depreciated.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. 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 other administrative expenses. 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 finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 7 (2024: 7 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	74,000
	--------
Amortisation
At 1 April 2024	33,167
Charge for the period	13,295
	--------
At 31 March 2025	46,462
	--------
Carrying amount
At 31 March 2025	27,538
	--------
At 31 March 2024	40,833
	--------

6. Tangible assets

	Freehold property	Long leasehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2024	532,520	2,163	49,894	24,500	5,411	614,488
Additions	–	–	2,365	3,950	373	6,688
	---------	-------	--------	--------	-------	---------
At 31 Mar 2025	532,520	2,163	52,259	28,450	5,784	621,176
	---------	-------	--------	--------	-------	---------
Depreciation
At 1 Apr 2024	–	505	16,972	12,034	2,087	31,598
Charge for the period	–	432	10,101	5,877	1,373	17,783
	---------	-------	--------	--------	-------	---------
At 31 Mar 2025	–	937	27,073	17,911	3,460	49,381
	---------	-------	--------	--------	-------	---------
Carrying amount
At 31 Mar 2025	532,520	1,226	25,186	10,539	2,324	571,795
	---------	-------	--------	--------	-------	---------
At 31 Mar 2024	532,520	1,658	32,922	12,466	3,324	582,890
	---------	-------	--------	--------	-------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	13,456	13,761
Amounts owed by group undertakings and undertakings in which the company has a participating interest	176,061	116,061
Other debtors	14,912	16,882
	---------	---------
	204,429	146,704
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	12,150
Trade creditors	67,231	64,817
Amounts owed to group undertakings and undertakings in which the company has a participating interest	614,890	458,952
Social security and other taxes	10,669	14,701
Other creditors	9,750	11,092
	---------	---------
	702,540	561,712
	---------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	137,238
Other creditors	18,200	26,526
	--------	---------
	18,200	163,764
	--------	---------

At the balance sheet date, Lloyds Bank PLC held a fixed and floating charge over all the property or undertaking of the company.

10. Related party transactions

At the year end the company owed £614,890 (2024: £458,952) and was owed £176,061 (2024: £116,061) by companies associated by common control.

11. Controlling party

The company's parent undertaking is McKay Group Limited (Company number: 12393405) a company registered in England and Wales at Unit 1, Bms Industrial Estate, Dengemarsh Road, Lydd, Kent, United Kingdom, TN29 9JH.