Company Registration No. 13573397 (England and Wales)
GTB ONE LIMITED
Unaudited accounts
for the year ended 31 August 2023
GTB ONE LIMITED
Unaudited accounts
Contents
GTB ONE LIMITED
Company Information
for the year ended 31 August 2023
Company Number
13573397 (England and Wales)
Registered Office
C/O AUSTIN KEMP SOLICITORS ST ANDREW HOU
119-121 THE HEADROW
LEEDS
LS1 5JW
UNITED KINGDOM
Accountants
Taxez
5 South Charlotte Street
Edinburgh
EH2 4AN
GTB ONE LIMITED
Statement of financial position
as at 31 August 2023
Investment property
198,000
98,000
Cash at bank and in hand
1,544
712
Creditors: amounts falling due within one year
(55,728)
(30,791)
Net current liabilities
(54,184)
(30,079)
Total assets less current liabilities
143,816
67,921
Creditors: amounts falling due after more than one year
(124,680)
(58,246)
Provisions for liabilities
Deferred tax
(4,357)
(2,412)
Called up share capital
10
10
Profit and loss account
14,769
7,253
Shareholders' funds
14,779
7,263
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 May 2024 and were signed on its behalf by
Guramrit Kooner
Director
Company Registration No. 13573397
GTB ONE LIMITED
Notes to the Accounts
for the year ended 31 August 2023
GTB ONE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13573397. The registered office is C/O AUSTIN KEMP SOLICITORS ST ANDREW HOU, 119-121 THE HEADROW, LEEDS, LS1 5JW, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 September 2022
98,000
Net gain from fair value adjustments
10,236
The Investment property has been valued as at 31/08/2022 by the Director.
GTB ONE LIMITED
Notes to the Accounts
for the year ended 31 August 2023
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
1,647
1,647
Loans from directors
53,722
28,785
6
Creditors: amounts falling due after more than one year
2023
2022
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
