Registered number
10470024
GPSLD Limited
Report and Financial Statements
30 November 2022
GPSLD Limited
Registered number: 10470024
Director's Report
The director presents his report and financial statements for the year ended 30 November 2022.
Principal activities
The company's principal activity during the period was that of software development and internet advertising.
Directors
The following persons served as directors during the period :
Mr J Almeida
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 19 October 2023 and signed on its behalf.
Mr J Almeida
Director
GPSLD Limited
Profit and Loss Account
for the year ended 30 November 2022
2022 2021
£ £
Turnover 6,692,568 5,652,216
Cost of sales (5,356,876) (3,946,851)
Gross profit 1,335,692 1,705,365
Administrative expenses (620,001) (1,678,889)
Operating profit 715,691 26,476
Interest receivable 18 4
Interest payable (276) (310)
Profit on ordinary activities before taxation 715,433 26,170
Tax on profit on ordinary activities 2,319 (2,319)
Profit for the financial period 717,752 23,851
GPSLD Limited
Registered number: 10470024
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £ £ £
Fixed assets
Tangible assets 3 758,273 27,833
Current assets
Debtors 4 299,737 218,815
Cash at bank and in hand 89,567 22,756
389,304 241,571
Creditors: amounts falling due within one year 5 (167,678) (142,114)
Net current assets 221,626 99,457
Total assets less current liabilities 979,899 127,290
Creditors: amounts falling due after more than one year 6 (224,325) (89,468)
Net assets 755,574 37,822
Capital and reserves
Called up share capital 100 100
Profit and loss account 755,474 37,722
Shareholder's funds 755,574 37,822
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Almeida
Director
Approved by the board on 19 October 2023
GPSLD Limited
Notes to the Accounts
for the year ended 30 November 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 7 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2021 38,524
At 30 November 2022 902,777
Depreciation
At 1 December 2021 10,691
Charge for the year 133,813
At 30 November 2022 144,504
Net book value
At 30 November 2022 758,273
At 30 November 2021 27,833
4 Debtors 2022 2021
£ £
Trade debtors 295,684 215,348
Other debtors 4,053 3,467
299,737 218,815
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 141,235 119,834
Corporation tax - 2,319
Other taxes and social security costs 18,957 13,479
Other creditors 7,486 6,482
167,678 142,114
6 Creditors: amounts falling due after one year 2022 2021
£ £
Other creditors 224,325 89,468
224,325 89,468
7 Other information
GPSLD Limited is a private company limited by shares and incorporated in England. Its registered office is:
4a The Broadway
Wembley
Middlesex
HA9 8JT
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