REGISTERED NUMBER: 07111485 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

G. BUNKER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A I Ansari

A S Bahra

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

REGISTERED NUMBER:

07111485 (England and Wales)

ACCOUNTANTS:

Plus Accounting

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

FIXED ASSETS

Intangible assets

4

193,750

232,500

Tangible assets

5

68,507

51,658

262,257

284,158

CURRENT ASSETS

Stocks

91,215

94,373

Debtors

6

3,043,355

2,655,869

Cash at bank and in hand

4,424

6,300

3,138,994

2,756,542

CREDITORS

Amounts falling due within one year

7

(1,424,611

)

(974,504

)

NET CURRENT ASSETS

1,714,383

1,782,038

TOTAL ASSETS LESS CURRENT LIABILITIES

1,976,640

2,066,196

CREDITORS

Amounts falling due after more than one year

8

(448,667

)

(509,809

)

PROVISIONS FOR LIABILITIES

11

(12,406

)

(9,070

)

NET ASSETS

1,515,567

1,547,317

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,515,467

1,547,217

1,515,567

1,547,317

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2026 and were signed on its behalf by:

A S Bahra - Director

1.	STATUTORY INFORMATION

G. Bunker Limited 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.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sales of goods

Revenue from the sale of goods is recognised when all of the following conditions are stratified:

o the company has transferred the significant risks and rewards of ownership the the buyer;

o the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

o the amount of revenue can be measured reliably;

o it is probable that the company will receive the consideration due under the transaction; and

o the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

o the amount of revenue can be measured reliably;

o it is probable that the company will receive the consideration due under the contract;

o the stage of completion of the contract at the end of the reporting period can be measured reliably; and

o the costs incurred and the costs to complete the contract can be measured reliably

Cash and cash equivalents

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

Improvement to property

-

10 years straight line

Plant and machinery

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Equipment (included in plant and machinery)

-

20% straight line

Stocks

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

Financial instruments

The company only enters into basic financial instrument transactions that result in recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

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

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Debtors and creditors

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

Finance and borrowing costs

Finance costs

Finance costs are charged to the profit and loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

775,000

AMORTISATION

At 1 January 2024

542,500

Amortisation for year

38,750

At 31 December 2024

581,250

NET BOOK VALUE

At 31 December 2024

193,750

At 31 December 2023

232,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

65,596

130,609

196,205

Additions

23,574

4,458

28,032

At 31 December 2024

89,170

135,067

224,237

DEPRECIATION

At 1 January 2024

31,781

112,766

144,547

Charge for year

7,838

3,345

11,183

At 31 December 2024

39,619

116,111

155,730

NET BOOK VALUE

At 31 December 2024

49,551

18,956

68,507

At 31 December 2023

33,815

17,843

51,658

The net book value of assets held under finance leases or hire purchase contracts included above are for equipment which had a net book value of £29,407 (2023: £33,266)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

-

2,573,067

Other debtors

3,043,355

82,802

3,043,355

2,655,869

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

37,651

49,864

Finance leases (see note 9)

21,704

22,147

Trade creditors

577,157

389,056

Taxation and social security

395,170

303,798

Other creditors

392,929

209,639

1,424,611

974,504

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Finance leases (see note 9)

31,123

32,630

Other creditors

417,544

477,179

448,667

509,809

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

2024

2023

£

£

Net obligations repayable:

Within one year

21,704

22,147

Between one and five years

31,123

32,630

52,827

54,777

Non-cancellable

operating leases

2024

2023

£

£

Within one year

35,000

35,000

Between one and five years

38,069

70,000

73,069

105,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Finance leases 2024

501

5,711

The company's assets are secured by way of a fixed and floating charge with Shawbrook Bank Limited. There is a personal guarantee on the loan from the directors.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

12,406

9,070

Deferred tax

£

Balance at 1 January 2024

9,070

Provided during year

3,336

Balance at 31 December 2024

12,406

12.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £8,968 (2023: £7,760). Contributions totalling £2,432 (2023: £1,413) were payable to the fund at the balance sheet date and are included in creditors.

13.	RELATED PARTY DISCLOSURES

As at the reporting date the company was owed £2,962,174 (2023: £2,573,066) from related companies. The company is taking advantage of the exemption under paragraph 1AC.35 of FRS 102 not to disclose group company transactions.

AB Optical Limited - [A company of which A Bahra is a director]

During the year a management charge of £138,678 (2023: £212,655) was paid to AB Optical Limited. At the balance sheet date the amount owed to AB Optical Limited was £261,652 (2023:2,097).

MIG Holdings Limited - [A company of with A Bahra is a director]

During the year MIG Holdings Limited paid expenses totalling £114,597 [2023: £840,819] on behalf of G. Bunker Limited.

During the year G. Bunker Limited paid expenses totalling £503,603 [2023: £1,151,634] on behalf of MIG Holdings.

At the balance sheet date G. Bunker was owed £2,962,073 [2023:2,573,067] from MIG Holdings Limited.