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REGISTERED NUMBER: 02681616 (England and Wales)















GPC74 LIMITED

Unaudited Financial Statements for the Year Ended 31 January 2023






GPC74 LIMITED (REGISTERED NUMBER: 02681616)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GPC74 LIMITED

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Mrs E L Purchase
L O Purchase





SECRETARY: Mrs E L Purchase





REGISTERED OFFICE: The Counting House
61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX





REGISTERED NUMBER: 02681616 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

GPC74 LIMITED (REGISTERED NUMBER: 02681616)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 65,259 64,317
65,259 64,317

CURRENT ASSETS
Stocks 11,398 11,398
Debtors 6 1,418,355 2,526,664
Cash at bank 22,627 51,198
1,452,380 2,589,260
CREDITORS
Amounts falling due within one year 7 716,268 1,653,057
NET CURRENT ASSETS 736,112 936,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

801,371

1,000,520

CREDITORS
Amounts falling due after more than one
year

8

(195,554

)

(267,358

)

PROVISIONS FOR LIABILITIES (16,314 ) (12,220 )
NET ASSETS 589,503 720,942

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 589,403 720,842
SHAREHOLDERS' FUNDS 589,503 720,942

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

GPC74 LIMITED (REGISTERED NUMBER: 02681616)

Balance Sheet - continued
31 January 2023


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 30 March 2023 and were signed on its behalf by:





L O Purchase - Director


GPC74 LIMITED (REGISTERED NUMBER: 02681616)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

GPC74 Limited is a private company, limited by shares , registered in England and Wales. 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

GPC74 LIMITED (REGISTERED NUMBER: 02681616)

Notes to the Financial Statements - continued
for the Year Ended 31 January 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 30,000
AMORTISATION
At 1 February 2022
and 31 January 2023 30,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2022 278,941 126,846 44,676 450,463
Additions 3,835 7,869 2,537 14,241
At 31 January 2023 282,776 134,715 47,213 464,704
DEPRECIATION
At 1 February 2022 226,752 118,718 40,676 386,146
Charge for year 8,356 3,521 1,422 13,299
At 31 January 2023 235,108 122,239 42,098 399,445
NET BOOK VALUE
At 31 January 2023 47,668 12,476 5,115 65,259
At 31 January 2022 52,189 8,128 4,000 64,317

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 689,107 1,819,388
Amounts owed by group undertakings 710,469 679,729
Prepayments 18,779 27,547
1,418,355 2,526,664

GPC74 LIMITED (REGISTERED NUMBER: 02681616)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 76,809 82,529
Trade creditors 386,708 1,070,106
Social security and other taxes 76,500 128,782
VAT 143,353 311,630
Other creditors 1,294 1,895
Directors' current accounts - 4,157
Accrued expenses 31,604 53,958
716,268 1,653,057

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 76,809 82,529
Bank loans - 2-5 years 118,745 184,829
195,554 267,358

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr L Purchase & Mrs E Purchase