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REGISTERED NUMBER: 07806401 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

GTA Global Limited

GTA Global Limited (Registered number: 07806401)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


GTA Global Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: L J Wiltshire
M J T Smith





REGISTERED OFFICE: Unit 2215
Silverstone Park
Silverstone
Northamptonshire
NN12 8GX





REGISTERED NUMBER: 07806401 (England and Wales)

GTA Global Limited (Registered number: 07806401)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 549 160

CURRENT ASSETS
Debtors 6 429,581 83,801
Cash at bank 1,663,434 1,035,267
2,093,015 1,119,068
CREDITORS
Amounts falling due within one year 7 1,422,935 878,216
NET CURRENT ASSETS 670,080 240,852
TOTAL ASSETS LESS CURRENT
LIABILITIES

670,629

241,012

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 670,529 240,912
SHAREHOLDERS' FUNDS 670,629 241,012

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





L J Wiltshire - Director


GTA Global Limited (Registered number: 07806401)

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

1. STATUTORY INFORMATION

GTA Global 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The Company has adopted Section 1A of FRS 102 in these financial statements. Details of the transition to FRS 102 are disclosed in note 9.

Related party exemption
The company has taken advantage of exemption under the terms of Financial Reporting Standard 102, not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of discounts and rebates allowed by the company and value added taxes.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from a customer in advance of services provided the amounts are recorded as deferred income and included as part of creditors due within one year.

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 - 33% on straight line basis
Computer equipment - 50% on straight line basis and 33% on straight line basis

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

GTA Global Limited (Registered number: 07806401)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and overdrafts, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Deferred tax

Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessment in periods different from those in which are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Foreign currency 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.

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 the profit and loss account.

Foreign exchange gains are presented in the profit and loss account within other operating income. Foreign exchange losses are presented in the profit and loss account within administrative expenses.

GTA Global Limited (Registered number: 07806401)

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

3. ACCOUNTING POLICIES - continued

Leasing commitments
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Employee benefits
The company provides a range of benefits to employees, including paid holiday arrangements and defined contribution pension plans.

Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Defined contribution pension plans

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 obligations are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Share capital
Ordinary shares are classified as equity.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

Distributions to equity holders
Dividends to the company shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company's shareholders.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2022 4,544 4,259 8,803
Additions - 1,099 1,099
Disposals (2,622 ) (4,259 ) (6,881 )
At 31 May 2023 1,922 1,099 3,021
DEPRECIATION
At 1 June 2022 4,384 4,259 8,643
Charge for year 161 550 711
Eliminated on disposal (2,623 ) (4,259 ) (6,882 )
At 31 May 2023 1,922 550 2,472
NET BOOK VALUE
At 31 May 2023 - 549 549
At 31 May 2022 160 - 160

GTA Global Limited (Registered number: 07806401)

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

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 409,780 73,708
Amounts owed by group undertakings 1,728 1,728
Other debtors 16,581 7,393
Deferred tax asset 1,116 872
Prepayments and accrued income 276 -
429,481 83,701

Amounts falling due after more than one year:
Called up share capital not paid 100 100

Aggregate amounts 429,581 83,801

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 377,639 217,170
Tax 107,288 47,105
Accruals and deferred income 938,008 613,941
1,422,935 878,216

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 9,376 9,376
Between one and five years 9,993 19,369
19,369 28,745