Gfb Lead Management Limited - Accounts to registrar (filleted) - small 18.2

Unaudited Financial Statements for the Year Ended 31 May 2020

for

Gfb Lead Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs L Begg

G Begg

SECRETARY:

REGISTERED OFFICE:

29 Kenilworth Road

Stirling

FK9 4EH

REGISTERED NUMBER:

SC565174 (Scotland)

ACCOUNTANTS:

D & A Pearston

Chartered Accountants

73 Stirling Business Centre

Wellgreen Place

Stirling

FK8 2DZ

CURRENT ASSETS

Debtors

4

-

3,300

Cash at bank

269

3,343

269

6,643

CREDITORS

Amounts falling due within one year

5

4,726

6,541

NET CURRENT (LIABILITIES)/ASSETS

(4,457

)

102

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,457

)

102

CAPITAL AND RESERVES

Called up share capital

6

10

10

Retained earnings

7

(4,467

)

92

SHAREHOLDERS' FUNDS

(4,457

)

102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 29 December 2020 and were signed on its behalf by:

G Begg - Director

1.	STATUTORY INFORMATION

Gfb Lead Management Limited is a private company, limited by shares , registered in Scotland. 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.

The trading deficit is funded through director's loans The directors are confident that the company has sufficient funds to meet its anticipated expenditure whilst the business is developed to a point which is self sustaining.The directors consider that it is appropriate that the accounts be prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

-

3,300

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Taxation and social security

(473

)

473

Other creditors

5,199

6,068

4,726

6,541

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.20

31.5.19

value:

£

£

10

Ordinary

£1

10

10

7.

RESERVES

Retained

earnings

£

At 1 June 2019

92

Deficit for the year

(4,559

)

At 31 May 2020

(4,467

)

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2020 and 31 May 2019:

31.5.20

31.5.19

£

£

Mrs L Begg

Balance outstanding at start of year

(2,098

)

(2,690

)

Amounts advanced

357

592

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,741

)

(2,098

)

G Begg

Balance outstanding at start of year

(3,148

)

(4,035

)

Amounts advanced

536

887

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,612

)

(3,148

)

9.	ULTIMATE CONTROLLING PARTY

The controlling party is G Begg.