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Registered number: 03689012
G.B Contracts Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
Square One
Chartered Certified Accountants
28 Glynn Road
Peacehaven
East Sussex
BN10 8AT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03689012
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 118,836 128,842
Investment Properties 5 4,131,570 4,020,072
Investments 6 1 1
4,250,407 4,148,915
CURRENT ASSETS
Stocks 7 281,709 271,209
Debtors 8 179,013 178,216
Cash at bank and in hand 17,865 141,297
478,587 590,722
Creditors: Amounts Falling Due Within One Year 9 (848,432 ) (729,751 )
NET CURRENT ASSETS (LIABILITIES) (369,845 ) (139,029 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,880,562 4,009,886
Creditors: Amounts Falling Due After More Than One Year 10 - (211,995 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (383,213 ) (377,984 )
NET ASSETS 3,497,349 3,419,907
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 3,497,249 3,419,807
SHAREHOLDERS' FUNDS 3,497,349 3,419,907
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For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Glenn Brooks
Director
18th September 2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
G.B Contracts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03689012 . The registered office is Gb Contracts Ltd Chelworth Industrial Estate, Cricklade, Swindon, SN6 6HQ.
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.
Rental income and the rendering of services
Rental income from tenants is recognised on an accruals basis. Amounts invoiced or received in advance are not recognised as revenue until the period to which they relate. Rent received in advance is recorded as deferred income within current liabilities and released to the profit and loss account over the period of the tenant’s right to occupy the property. Rental income is therefore recognised in line with the economic substance of the lease and the tenant’s use of the property.ents on commercial premises are due in advance. Rents are accounted for on the accruals basis.
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:
Plant & Machinery 25%, 20%, 15% & 10% on the reducing balance basis
Motor Vehicles 25% on the reducing balance basis
Fixtures & Fittings 25% & 10% on the reducing balance basis
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2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2025 338,599 45,883 34,896 419,378
Additions 25,733 - - 25,733
As at 31 December 2025 364,332 45,883 34,896 445,111
Depreciation
As at 1 January 2025 266,279 11,471 12,786 290,536
Provided during the period 25,054 8,603 2,082 35,739
As at 31 December 2025 291,333 20,074 14,868 326,275
Net Book Value
As at 31 December 2025 72,999 25,809 20,028 118,836
As at 1 January 2025 72,320 34,412 22,110 128,842
5. Investment Property
2025
£
Fair Value
As at 1 January 2025 4,020,072
Additions 111,498
As at 31 December 2025 4,131,570
6. Investments
Subsidiaries
£
Cost or Valuation
As at 1 January 2025 1
As at 31 December 2025 1
Provision
As at 1 January 2025 -
As at 31 December 2025 -
Net Book Value
As at 31 December 2025 1
As at 1 January 2025 1
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7. Stocks
2025 2024
£ £
Stock 281,709 271,209
8. Debtors
2025 2024
£ £
Due within one year
Trade debtors 68,607 25,868
Other debtors 110,406 152,348
179,013 178,216
9. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 24,085 3,291
Bank loans and overdrafts - 100,000
Other creditors 762,912 597,290
Taxation and social security 61,435 29,170
848,432 729,751
10. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 211,995
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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