Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-3113326Wholesaler of intermediate productsfalse2022-02-012220falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05083485 2022-02-01 2023-01-31 05083485 2021-02-01 2022-01-31 05083485 2023-01-31 05083485 2022-01-31 05083485 c:Director1 2022-02-01 2023-01-31 05083485 d:Buildings 2022-02-01 2023-01-31 05083485 d:Buildings d:LongLeaseholdAssets 2022-02-01 2023-01-31 05083485 d:Buildings d:LongLeaseholdAssets 2023-01-31 05083485 d:Buildings d:LongLeaseholdAssets 2022-01-31 05083485 d:LandBuildings 2023-01-31 05083485 d:LandBuildings 2022-01-31 05083485 d:PlantMachinery 2022-02-01 2023-01-31 05083485 d:PlantMachinery 2023-01-31 05083485 d:PlantMachinery 2022-01-31 05083485 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05083485 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 05083485 d:MotorVehicles 2022-02-01 2023-01-31 05083485 d:MotorVehicles 2023-01-31 05083485 d:MotorVehicles 2022-01-31 05083485 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05083485 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 05083485 d:FurnitureFittings 2022-02-01 2023-01-31 05083485 d:FurnitureFittings 2023-01-31 05083485 d:FurnitureFittings 2022-01-31 05083485 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05083485 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 05083485 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 05083485 d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 05083485 d:Goodwill 2022-02-01 2023-01-31 05083485 d:Goodwill 2023-01-31 05083485 d:Goodwill 2022-01-31 05083485 d:CurrentFinancialInstruments 2023-01-31 05083485 d:CurrentFinancialInstruments 2022-01-31 05083485 d:Non-currentFinancialInstruments 2023-01-31 05083485 d:Non-currentFinancialInstruments 2022-01-31 05083485 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 05083485 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 05083485 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 05083485 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 05083485 d:ShareCapital 2023-01-31 05083485 d:ShareCapital 2022-01-31 05083485 d:CapitalRedemptionReserve 2023-01-31 05083485 d:CapitalRedemptionReserve 2022-01-31 05083485 d:RetainedEarningsAccumulatedLosses 2023-01-31 05083485 d:RetainedEarningsAccumulatedLosses 2022-01-31 05083485 c:FRS102 2022-02-01 2023-01-31 05083485 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 05083485 c:FullAccounts 2022-02-01 2023-01-31 05083485 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 05083485 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 05083485 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 05083485 2 2022-02-01 2023-01-31 05083485 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 05083485 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-01-31 05083485 d:LeasedAssetsHeldAsLessee 2023-01-31 05083485 d:LeasedAssetsHeldAsLessee 2022-01-31 05083485 d:Goodwill d:OwnedIntangibleAssets 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 05083485









G M C MARKETING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
G M C MARKETING LIMITED
REGISTERED NUMBER: 05083485

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
200
400

Tangible assets
 5 
120,349
121,928

  
120,549
122,328

Current assets
  

Stocks
  
238,881
227,049

Debtors: amounts falling due within one year
 6 
425,282
658,570

Cash at bank and in hand
 7 
292,642
111,397

  
956,805
997,016

Creditors: amounts falling due within one year
 8 
(442,958)
(457,157)

Net current assets
  
 
 
513,847
 
 
539,859

Total assets less current liabilities
  
634,396
662,187

Creditors: amounts falling due after more than one year
 9 
(99,201)
(102,500)

Provisions for liabilities
  

Deferred tax
 10 
(16,897)
(16,897)

  
 
 
(16,897)
 
 
(16,897)

Net assets
  
518,298
542,790


Capital and reserves
  

Called up share capital 
  
72
72

Capital redemption reserve
  
18
18

Profit and loss account
  
518,208
542,700

  
518,298
542,790


Page 1

 
G M C MARKETING LIMITED
REGISTERED NUMBER: 05083485
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M Ramos Gonzalez
Director

Date: 26 October 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
G M C MARKETING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

G M C Marketing Limited is a company limited by shares, incorporated in England and Wales.
The principal activity of the company was a wholesaler and consultant of paper products.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
G M C MARKETING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
G M C MARKETING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
5
years

Page 5

 
G M C MARKETING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
25%
reducing balance
Long-term leasehold property
-
20%
straight line
Plant and machinery
-
33%
reducing balance
Motor vehicles
-
20%
straight line
Fixtures and fittings
-
33%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
G M C MARKETING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 20).

Page 7

 
G M C MARKETING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 February 2022
1,000



At 31 January 2023

1,000



Amortisation


At 1 February 2022
600


Charge for the year on owned assets
200



At 31 January 2023

800



Net book value



At 31 January 2023
200



At 31 January 2022
400



Page 8

 
G M C MARKETING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 February 2022
57,372
233,039
-
18,394
308,805


Additions
-
37,060
40,615
-
77,675



At 31 January 2023

57,372
270,099
40,615
18,394
386,480



Depreciation


At 1 February 2022
24,377
147,910
-
14,590
186,877


Charge for the year on owned assets
13,326
57,591
-
2,245
73,162


Charge for the year on financed assets
-
-
6,092
-
6,092



At 31 January 2023

37,703
205,501
6,092
16,835
266,131



Net book value



At 31 January 2023
19,669
64,598
34,523
1,559
120,349



At 31 January 2022
32,995
85,129
-
3,804
121,928




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Long leasehold
19,669
32,995

19,669
32,995


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
34,523
-
Page 9

 
G M C MARKETING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

           5.Tangible fixed assets (continued)


34,523
-


6.


Debtors

2023
2022
£
£


Trade debtors
262,731
289,152

Other debtors
141,704
349,558

Prepayments and accrued income
20,847
19,860

425,282
658,570



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
292,642
111,397

292,642
111,397



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
30,000
30,000

Trade creditors
327,625
326,794

Other taxation and social security
48,468
60,600

Obligations under finance lease and hire purchase contracts
6,839
-

Other creditors
2,397
2,163

Accruals and deferred income
27,629
37,600

442,958
457,157


Page 10

 
G M C MARKETING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
72,500
102,500

Net obligations under finance leases and hire purchase contracts
26,701
-

99,201
102,500



10.


Deferred taxation




2023


£






At beginning of year
(16,897)



At end of year
(16,897)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(16,897)
(16,897)

(16,897)
(16,897)


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £12,843 (2022: £10,714). Contributions totalling £2,397 (2022: £2,163) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 11