GF & LB Limited - Filleted accounts

Registered number

11633886

GF & LB Limited

Filleted Accounts

31 October 2025

GF & LB Limited
Registered number:		11633886
Balance Sheet
as at 31 October 2025

Notes			2025			2024
£				£
Current assets
Debtors	3	10,508			13,888
Cash at bank and in hand		11,880			12,455
		22,388			26,343

Creditors: amounts falling due within one year	4	(12,918)			(14,617)

Net current assets			9,470			11,726

Net assets			9,470			11,726

Capital and reserves
Called up share capital			100			100
Profit and loss account			9,370			11,626

Shareholders' funds			9,470			11,726

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Furqan Ghauri
Director
Approved by the board on 6 July 2026

GF & LB Limited
Notes to the Accounts
for the year ended 31 October 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees	2025		2024
Number			Number

	Average number of persons employed by the company	2		2


3	Debtors	2025		2024
£			£

	Amounts owed by group undertakings and undertakings in which the company has a participating interest	8,521		13,071
	Other debtors	1,987		817
		10,508		13,888


4	Creditors: amounts falling due within one year	2025		2024
£			£

	Bank loans and overdrafts	12		6,806
	Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,755		1,305
	Taxation and social security costs	5,171		3,800
	Other creditors	3,980		2,706
		12,918		14,617


5	Controlling party

	The company is controlled by F Ghauri and B Lombardo on the basis that they hold 100% of the ordinary issued share capital of the company.


6	Other information

	GF & LB Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Pennyweights
	Kenley
	CR8 5HB