GB Inspection Systems Limited - Filleted accounts

Registered number

03021497

GB Inspection Systems Limited

Filleted Abridged Accounts

31 March 2026

GB Inspection Systems Limited
Registered number:		03021497
Abridged Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Intangible assets	3		1			1
Tangible assets	4		75,383			98,323
			75,384			98,324

Current assets
Stocks		1,078,697			864,351
Debtors		184,617			262,945
Cash at bank and in hand		2,085			4,046
		1,265,399			1,131,342

Creditors: amounts falling due within one year		(286,000)			(260,850)

Net current assets			979,399			870,492

Total assets less current liabilities			1,054,783			968,816

Creditors: amounts falling due after more than one year			(6,860)			(17,584)



Net assets			1,047,923			951,232

Capital and reserves
Called up share capital			100			100
Profit and loss account			1,047,823			951,132

Shareholders' funds			1,047,923			951,232

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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

E L Hill
Director
Approved by the board on 30 September 2026

GB Inspection Systems Limited
Notes to the Abridged Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The abridged 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	10% and 20% reducing balance
	Office equipment	33% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2026		2025
Number				Number

	Average number of persons employed by the company		18		18


3	Intangible fixed assets				£
	Goodwill:

	Cost
	At 1 April 2025				240,000
	At 31 March 2026				240,000

	Amortisation
	At 1 April 2025				239,999
	At 31 March 2026				239,999

	Net book value
	At 31 March 2026				1
	At 31 March 2025				1

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
					Total
£
	Cost
	At 1 April 2025				442,370
	Additions				2,373
	Disposals				(1,885)
	At 31 March 2026				442,858

	Depreciation
	At 1 April 2025				344,047
	Charge for the year				25,060
	On disposals				(1,632)
	At 31 March 2026				367,475

	Net book value
	At 31 March 2026				75,383
	At 31 March 2025				98,323


5	Other information

	GB Inspection Systems Limited is a private company limited by shares and incorporated in England. Its registered office is:
	22a Burntwood Business Park
	Cobbett Road
	Burntwood
	Staffordshire
	WS7 3GL