Just Gb Assetts Ltd - Accounts to registrar (filleted) - small 23.2.5
Just Gb Assetts Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023 |
| FOR |
| JUST GB ASSETTS LTD |
| JUST GB ASSETTS LTD (REGISTERED NUMBER: 10766923) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| JUST GB ASSETTS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2023 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| South Stour Offices |
| Roman Road |
| Mersham |
| Ashford |
| Kent |
| TN25 7HS |
| JUST GB ASSETTS LTD (REGISTERED NUMBER: 10766923) |
| BALANCE SHEET |
| 31 MAY 2023 |
| 31.5.23 | 31.5.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debts |
| Debts factored without recourse | 78,311 | 40,935 |
| Non-returnable deposits | (59,679 | ) | (34,258 | ) |
| 5 | 18,632 | 6,677 |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| JUST GB ASSETTS LTD (REGISTERED NUMBER: 10766923) |
| BALANCE SHEET - continued |
| 31 MAY 2023 |
| 31.5.23 | 31.5.22 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| JUST GB ASSETTS LTD (REGISTERED NUMBER: 10766923) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2023 |
| 1. | STATUTORY INFORMATION |
| Just Gb Assetts Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Stocks |
| 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 items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| 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. |
| JUST GB ASSETTS LTD (REGISTERED NUMBER: 10766923) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Going concern |
| During the period the company incurred a loss of £31,640 (2022: £28,990) and at the balance sheet date had net liabilities of £60,665 (2022: £29,025). These financial statements have been prepared on a going concern basis which assumes continuing support from the company director and creditors. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 June 2022 |
| Additions |
| Disposals | ( |
) |
| At 31 May 2023 |
| DEPRECIATION |
| At 1 June 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 May 2023 |
| NET BOOK VALUE |
| At 31 May 2023 |
| At 31 May 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.23 | 31.5.22 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Linked presentation: |
| The director hereby states that the entity is not obliged to support any losses, nor does it intend to do so. |
| JUST GB ASSETTS LTD (REGISTERED NUMBER: 10766923) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2023 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.23 | 31.5.22 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.23 | 31.5.22 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 8,773 |
| 8. | PROVISIONS FOR LIABILITIES |
| 31.5.23 | 31.5.22 |
| £ | £ |
| Deferred tax | 659 | 2,122 |
| Deferred |
| tax |
| £ |
| Balance at 1 June 2022 |
| Provided during year | ( |
) |
| Balance at 31 May 2023 |
| JUST GB ASSETTS LTD (REGISTERED NUMBER: 10766923) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2023 |
| 9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022: |
| 31.5.23 | 31.5.22 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 10. | RELATED PARTY DISCLOSURES |
| Mr A Ballington-James - Director and Shareholder |
| At the balance sheet date Just GB Assetts Ltd owed Mr A Ballington-James £8,005 (2022 - £2,274). |