PTP Accounts Production v23.3.0.418 02302371 Board of Directors 28.2.23 1.3.22 28.2.23 28.2.23 a holding company. The principal activities of its subsidiary companies continued to be the design, development and sale of software applications, together with the provision of construction design and detailing services. true true true false true true false false false false true false 'A' Ordinary 0 'B' Ordinary 0 'C' Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure023023712022-02-28023023712023-02-28023023712022-03-012023-02-28023023712021-02-28023023712021-03-012022-02-28023023712022-02-2802302371ns16:EnglandWales2022-03-012023-02-2802302371ns15:PoundSterling2022-03-012023-02-2802302371ns11:Director12022-03-012023-02-2802302371ns11:Consolidated2023-02-2802302371ns11:ConsolidatedGroupCompanyAccounts2022-03-012023-02-2802302371ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2802302371ns11:FRS102ns11:Consolidated2022-03-012023-02-2802302371ns11:Auditedns11:Consolidated2022-03-012023-02-2802302371ns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-03-012023-02-2802302371ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-03-012023-02-2802302371ns11:Consolidatedns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-03-012023-02-2802302371ns11:LargeMedium-sizedCompaniesRegimeForAccountsns11:Consolidated2022-03-012023-02-2802302371ns11:FullAccounts2022-03-012023-02-2802302371ns6:Subsidiary12022-03-012023-02-280230237112022-03-012023-02-2802302371ns11:OrdinaryShareClass12022-03-012023-02-2802302371ns11:OrdinaryShareClass22022-03-012023-02-2802302371ns11:OrdinaryShareClass32022-03-012023-02-2802302371ns11:Consolidated2022-03-012023-02-2802302371ns11:Director22022-03-012023-02-2802302371ns11:CompanySecretary12022-03-012023-02-2802302371ns11:RegisteredOffice2022-03-012023-02-2802302371ns11:Consolidated2021-03-012022-02-2802302371ns6:CurrentFinancialInstruments2023-02-2802302371ns6:CurrentFinancialInstruments2022-02-2802302371ns6:ShareCapital2023-02-2802302371ns6:ShareCapital2022-02-2802302371ns6:CapitalRedemptionReserve2023-02-2802302371ns6:CapitalRedemptionReserve2022-02-2802302371ns6:RetainedEarningsAccumulatedLosses2023-02-2802302371ns6:RetainedEarningsAccumulatedLosses2022-02-2802302371ns6:ShareCapital2021-02-2802302371ns6:RetainedEarningsAccumulatedLosses2021-02-2802302371ns6:CapitalRedemptionReserve2021-02-2802302371ns6:RetainedEarningsAccumulatedLosses2021-03-012022-02-2802302371ns6:CapitalRedemptionReserve2021-03-012022-02-2802302371ns6:ShareCapital2022-03-012023-02-2802302371ns6:RetainedEarningsAccumulatedLosses2022-03-012023-02-2802302371ns6:CapitalRedemptionReserve2022-03-012023-02-2802302371ns6:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2802302371ns6:ComputerSoftware2022-03-012023-02-2802302371ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-03-012023-02-2802302371ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-012023-02-2802302371ns6:FurnitureFittings2022-03-012023-02-2802302371ns6:MotorVehicles2022-03-012023-02-2802302371ns6:ComputerEquipment2022-03-012023-02-2802302371ns6:LandBuildings2022-02-2802302371ns6:FurnitureFittings2022-02-2802302371ns6:ComputerEquipment2022-02-2802302371ns6:LandBuildings2022-03-012023-02-2802302371ns6:LandBuildings2023-02-2802302371ns6:FurnitureFittings2023-02-2802302371ns6:ComputerEquipment2023-02-2802302371ns6:LandBuildings2022-02-2802302371ns6:FurnitureFittings2022-02-2802302371ns6:ComputerEquipment2022-02-2802302371ns6:CostValuation2022-02-28023023711ns6:Subsidiary12022-03-012023-02-2802302371ns6:Subsidiary12023-02-2802302371ns6:Subsidiary12022-02-2802302371ns6:Subsidiary12021-03-012022-02-2802302371ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2802302371ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2802302371ns6:AcceleratedTaxDepreciationDeferredTax2023-02-2802302371ns6:AcceleratedTaxDepreciationDeferredTax2022-02-2802302371ns6:TaxLossesCarry-forwardsDeferredTax2023-02-2802302371ns6:TaxLossesCarry-forwardsDeferredTax2022-02-2802302371ns6:DeferredTaxation2022-02-2802302371ns6:DeferredTaxation2023-02-2802302371ns11:OrdinaryShareClass12023-02-2802302371ns11:OrdinaryShareClass22023-02-2802302371ns6:RetainedEarningsAccumulatedLosses2022-02-2802302371ns6:CapitalRedemptionReserve2022-02-28
REGISTERED NUMBER: 02302371 (England and Wales)















Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements for the Year Ended 28th February 2023

for

GAINPEAK LIMITED

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Contents of the Consolidated Financial Statements
for the Year Ended 28th February 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


GAINPEAK LIMITED

Company Information
for the Year Ended 28th February 2023







DIRECTORS: J W P Fryett
I L Chambers


SECRETARY: J W P Fryett


REGISTERED OFFICE: Arrowsmith Court
10 Station Approach
Broadstone
Dorset
BH18 8AX


REGISTERED NUMBER: 02302371 (England and Wales)


SENIOR STATUTORY AUDITOR: Simon Ellingham BA FCA DChA


AUDITORS: Fawcetts LLP
Windover House
St Ann Street
Salisbury
Wiltshire
SP1 2DR


BANKERS: Barclays
1 Churchill Place
Canary Wharf
London
E14 5HP

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Group Strategic Report
for the Year Ended 28th February 2023


The directors present their strategic report of the company and the group for the year ended 28th February 2023.

REVIEW OF BUSINESS
During the year to February 2023 the group was able to increase its turnover in both the software and services areas. The pressure on salaries in India, together with an unfavourable exchange rate in the Autumn of 2022 and the necessity of providing against historical issues, leading to a Director being relieved of his executive duties, meant that the result in India was disappointing and the resulting loss had an impact on the overall Group profitability

The restructuring of the Services activity that had started in 2021 continued during the year, with the focus on obtaining more UK based turnover rather than less profitable work in other locations. However, the Group was able to benefit from increased software sales in India, a market which had underperformed for many years under previous leadership.

PRINCIPAL RISKS AND UNCERTAINTIES
The prospect of a recession in the UK appears to have receded somewhat but risks remain due to the high level of inflation experienced during the last two years. Activity in the Construction industry continues to be robust and hasn't affected the Group turnover. Nevertheless, the main costs continue to be salary related, running at over 50% of turnover, and the Directors are committed to assisting all employees in combatting any reduction in the real level of wages caused by inflationary pressures, even if this does result in a reduced level of overall profitability in the short term, as they believe that the retention of key staff will reap benefits over the longer term..

The increase in "home working" particularly in India, has seen many new businesses being established and the competition from these has threatened to reduce prices below those that at which established Companies, such as CADS, can operate profitably. However, whilst CADS is committed to retaining flexibility over working arrangements, a greater return tn the office by staff has generally reassured customers over the quality of work, as against that offered by competitors based sole on price.

FINANCIAL INSTRUMENTS
The group maintains a very low level of external borrowings and, due to difficulties experienced in the past in obtaining support from its bankers, there are no plans to change this in the foreseeable future. The Directors' policy is to avoid any reliance on external funding in order to retain control over the Group's activities, which they feel they are best placed to accomplish rather than being influenced by outside parties. The Group's budgets and business plans indicate that it has sufficient cash reserves to meet any anticipated finance requirements in the medium term.

RESEARCH AND DEVELOPMENT
The Group continues to invest significant amounts in the ongoing development of its software and it is committed to maintaining its position as one of the leading providers of software to the UK scaffolding and reinforced concrete sectors. The current focus remains on the provision of 3D solutions which are increasingly being demanded by customers. The Directors remain committed to building a team with the necessary expertise to fulfil these requirements and prioritising the longer term stability of the Group and ongoing benefit to its employees both in the UK and in India.

ON BEHALF OF THE BOARD:





J W P Fryett - Director


20th November 2023

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Report of the Directors
for the Year Ended 28th February 2023


The directors present their report with the financial statements of the company and the group for the year ended 28th February 2023.

DIVIDENDS
No dividends will be distributed for the year ended 28th February 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st March 2022 to the date of this report.

J W P Fryett
I L Chambers

POLITICAL DONATIONS AND EXPENDITURE
During the year the Company made charitable donations of £3,000.

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Fawcetts LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J W P Fryett - Director


20th November 2023

Report of the Independent Auditors to the Members of
Gainpeak Limited


Opinion
We have audited the financial statements of Gainpeak Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28th February 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 28th February 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Gainpeak Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Gainpeak Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations we consider the following:
• the nature of the industry and sector, control environment and business performance;
• results of our enquiries of management about their own identification and assessment of the risks of
irregularities;
• any matters we identified having obtained and reviewed the company's documentation of their policies and
procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations

• the matters discussed among the audit engagement team regarding how and where fraud might occur in the
financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following area: revenue and profit recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

Audit response to risks identified
As a result of performing the above, we identified revenue and profit recognition a key audit matter related to the potential risk of fraud. Our procedures to respond to risks identified included the following:
• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance
with provisions of relevant laws and regulations described as having a direct effect on the financial
statements;
• enquiring of management concerning actual and potential litigation and claims;
• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks
of material misstatement due to fraud;
• in addressing the risk of fraud through management override of controls, testing the appropriateness of
journal entries and other adjustments; assessing whether the judgements made in making accounting
estimates are indicative of a potential bias; and evaluating the business rationale of any significant
transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Gainpeak Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Simon Ellingham BA FCA DChA (Senior Statutory Auditor)
for and on behalf of Fawcetts LLP
Windover House
St Ann Street
Salisbury
Wiltshire
SP1 2DR

27th November 2023

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Consolidated
Income Statement
for the Year Ended 28th February 2023

2023 2022
Notes £    £   

TURNOVER 3 8,704,905 7,875,427

Cost of sales 219,778 216,053
GROSS PROFIT 8,485,127 7,659,374

Administrative expenses 8,406,908 7,371,379
78,219 287,995

Other operating income 54,886 129,407
OPERATING PROFIT 5 133,105 417,402

Interest receivable and similar income 28,189 1,302
161,294 418,704

Interest payable and similar expenses 6 601 2,684
PROFIT BEFORE TAXATION 160,693 416,020

Tax on profit 7 (61,802 ) 25,206
PROFIT FOR THE FINANCIAL YEAR 222,495 390,814
Profit attributable to:
Owners of the parent 296,078 365,517
Non-controlling interests (73,583 ) 25,297
222,495 390,814

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Consolidated
Other Comprehensive Income
for the Year Ended 28th February 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 222,495 390,814


OTHER COMPREHENSIVE INCOME
Exchange movements 70,356 (25,392 )
Purchase of own shares (320,000 ) -
Income tax relating to components of
other comprehensive income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(249,644

)

(25,392

)
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(27,149

)

365,422

Total comprehensive income attributable to:
Owners of the parent 46,434 340,125
Non-controlling interests (73,583 ) 25,297
(27,149 ) 365,422

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Consolidated Balance Sheet
28th February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 51,111 39,715
Tangible assets 10 559,642 647,099
Investments 11 - -
610,753 686,814

CURRENT ASSETS
Debtors 12 3,280,383 2,483,542
Cash at bank and in hand 3,636,830 4,020,404
6,917,213 6,503,946
CREDITORS
Amounts falling due within one year 13 3,326,159 2,973,462
NET CURRENT ASSETS 3,591,054 3,530,484
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,201,807

4,217,298

PROVISIONS FOR LIABILITIES 16 158,176 146,498
NET ASSETS 4,043,631 4,070,800

CAPITAL AND RESERVES
Called up share capital 17 80 100
Capital redemption reserve 18 20 -
Retained earnings 18 3,538,583 3,492,169
SHAREHOLDERS' FUNDS 3,538,683 3,492,269

NON-CONTROLLING INTERESTS 19 504,948 578,531
TOTAL EQUITY 4,043,631 4,070,800

The financial statements were approved by the Board of Directors and authorised for issue on 20th November 2023 and were signed on its behalf by:





J W P Fryett - Director


GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Company Balance Sheet
28th February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 128,354 138,574
Investments 11 100 100
128,454 138,674

CURRENT ASSETS
Debtors 12 - 104,662
Cash at bank 1,003,397 727,937
1,003,397 832,599
CREDITORS
Amounts falling due within one year 13 423,064 18,702
NET CURRENT ASSETS 580,333 813,897
TOTAL ASSETS LESS CURRENT
LIABILITIES

708,787

952,571

PROVISIONS FOR LIABILITIES 16 - 793
NET ASSETS 708,787 951,778

CAPITAL AND RESERVES
Called up share capital 17 80 100
Capital redemption reserve 18 20 -
Retained earnings 18 708,687 951,678
SHAREHOLDERS' FUNDS 708,787 951,778

Company's profit for the financial year 77,009 70,575

The financial statements were approved by the Board of Directors and authorised for issue on 20th November 2023 and were signed on its behalf by:





J W P Fryett - Director


GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Consolidated Statement of Changes in Equity
for the Year Ended 28th February 2023

Called up Capital
share Retained redemption
capital earnings reserve
£    £    £   

Balance at 1st March 2021 100 3,152,044 -

Changes in equity
Total comprehensive income - 340,125 -
Balance at 28th February 2022 100 3,492,169 -

Changes in equity
Issue of share capital (20 ) - -
Total comprehensive income - 46,414 20
Balance at 28th February 2023 80 3,538,583 20
Non-controlling Total
Total interests equity
£    £    £   

Balance at 1st March 2021 3,152,144 553,234 3,705,378

Changes in equity
Total comprehensive income 340,125 25,297 365,422
Balance at 28th February 2022 3,492,269 578,531 4,070,800

Changes in equity
Issue of share capital (20 ) - (20 )
Total comprehensive income 46,434 (73,583 ) (27,149 )
Balance at 28th February 2023 3,538,683 504,948 4,043,631

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Company Statement of Changes in Equity
for the Year Ended 28th February 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   

Balance at 1st March 2021 100 881,103 - 881,203

Changes in equity
Total comprehensive income - 70,575 - 70,575
Balance at 28th February 2022 100 951,678 - 951,778

Changes in equity
Issue of share capital (20 ) - - (20 )
Total comprehensive income - (242,991 ) 20 (242,971 )
Balance at 28th February 2023 80 708,687 20 708,787

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Consolidated Cash Flow Statement
for the Year Ended 28th February 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (212,566 ) 888,803
Interest paid (42 ) (10 )
Interest element of hire purchase
payments paid

(559

)

(2,674

)
Tax paid (190,947 ) (3,541 )
Net cash from operating activities (404,114 ) 882,578

Cash flows from investing activities
Purchase of intangible fixed assets (13,073 ) -
Purchase of tangible fixed assets (44,544 ) (8,798 )
Sale of tangible fixed assets (229 ) 6,180
Interest received 28,189 1,302
Net cash from investing activities (29,657 ) (1,316 )

Cash flows from financing activities
New loans in year 89,790 -
Loan repayments in year (31,949 ) (50,796 )
Capital repayments in year (19,528 ) (24,847 )
Share issue (20 ) -
Share buyback (319,980 ) -
Advance payments 331,884 278,318
Net cash from financing activities 50,197 202,675

(Decrease)/increase in cash and cash equivalents (383,574 ) 1,083,937
Cash and cash equivalents at
beginning of year

2

4,020,404

2,936,467

Cash and cash equivalents at end of
year

2

3,636,830

4,020,404

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 28th February 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 160,693 416,020
Depreciation charges 133,242 142,982
Loss on disposal of fixed assets 665 2,770
Exchange movements 70,356 (25,392 )
Finance costs 601 2,684
Finance income (28,189 ) (1,302 )
337,368 537,762
(Increase)/decrease in trade and other debtors (523,984 ) 248,877
(Decrease)/increase in trade and other creditors (25,950 ) 102,164
Cash generated from operations (212,566 ) 888,803

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 28th February 2023
28.2.23 1.3.22
£    £   
Cash and cash equivalents 3,636,830 4,020,404
Year ended 28th February 2022
28.2.22 1.3.21
£    £   
Cash and cash equivalents 4,020,404 2,936,467


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.22 Cash flow At 28.2.23
£    £    £   
Net cash
Cash at bank and in hand 4,020,404 (383,574 ) 3,636,830
4,020,404 (383,574 ) 3,636,830
Debt
Finance leases (19,528 ) 19,528 -
Debts falling due within 1 year (22,159 ) (57,841 ) (80,000 )
(41,687 ) (38,313 ) (80,000 )
Total 3,978,717 (421,887 ) 3,556,830

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements
for the Year Ended 28th February 2023


1. STATUTORY INFORMATION

Gainpeak 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 General 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 the Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements are presented in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Where services such as maintenance contracts are supplied in a period following the year end the relevant invoiced amount is treated as maintenance in advance.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Short leasehold - 4% on cost and Evenly over the remaining lease period
Fixtures and fittings - 20% on reducing balance and Straight line over 10 years
Motor vehicles - 25% on cost and Straight line over 8 years
Computer equipment - 33% on reducing balance, Straight line over 5 years and Straight line over 10 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 5,907,891 5,680,233
Europe 396,152 326,846
Rest of the World 2,400,862 1,868,348
8,704,905 7,875,427

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 4,979,659 4,389,319
Social security costs 308,414 275,284
Other pension costs 102,395 132,188
5,390,468 4,796,791

The average number of employees during the year was as follows:
2023 2022

Sales and development 87 86
Services and support 282 296
Office and management 38 40
407 422

The average number of employees by undertakings that were proportionately consolidated during the year was 407 (2022 - 422 ) .

2023 2022
£    £   
Directors' remuneration 405,778 379,571
Directors' pension contributions to money purchase schemes 24,335 64,122

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 302,733 298,602
Pension contributions to money purchase schemes 24,335 24,122

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 7,918 14,320
Other operating leases 263,574 259,425
Depreciation - owned assets 131,565 126,869
Depreciation - assets on hire purchase contracts - 15,681
Loss on disposal of fixed assets 665 2,770
Computer software amortisation 1,677 433
Audit fees 12,500 12,000
Foreign exchange differences 175,628 (7,234 )

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Other Interest 42 10
Hire purchase 559 2,674
601 2,684

7. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 56,051 63,418

Deferred tax (117,853 ) (38,212 )
Tax on profit (61,802 ) 25,206

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 160,693 416,020
Profit multiplied by the standard rate of corporation tax in the UK of
19 % (2022 - 19 %)

30,532

79,044

Effects of:
Expenses not deductible for tax purposes (1,116 ) (4,756 )
Capital allowances in excess of depreciation (34,043 ) (30,924 )
Utilisation of tax losses - (23,620 )
Exchange movements (13,378 ) 1,454
Effect of tax rates for foreign group companies (10,592 ) 4,008
Deferred tax - other timing differences (5,864 ) -
Losses carried forward (27,341 ) -
Total tax (credit)/charge (61,802 ) 25,206

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Exchange movements 70,356 - 70,356
Purchase of own shares (320,000 ) - (320,000 )
(249,644 ) - (249,644 )


GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


7. TAXATION - continued
2022
Gross Tax Net
£    £    £   
Exchange movements (25,392 ) - (25,392 )

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. INTANGIBLE FIXED ASSETS

Group
Computer
software
£   
COST
At 1st March 2022 515,803
Additions 13,073
At 28th February 2023 528,876
AMORTISATION
At 1st March 2022 476,088
Amortisation for year 1,677
At 28th February 2023 477,765
NET BOOK VALUE
At 28th February 2023 51,111
At 28th February 2022 39,715

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Short and
property leasehold fittings
£    £    £   
COST
At 1st March 2022 214,079 21,615 230,869
Additions - - -
Disposals - - -
At 28th February 2023 214,079 21,615 230,869
DEPRECIATION
At 1st March 2022 90,925 21,287 182,819
Charge for year 2,796 328 12,831
Eliminated on disposal - - -
At 28th February 2023 93,721 21,615 195,650
NET BOOK VALUE
At 28th February 2023 120,358 - 35,219
At 28th February 2022 123,154 328 48,050

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st March 2022 224,975 1,611,010 2,302,548
Additions - 44,544 44,544
Disposals - (1,450 ) (1,450 )
At 28th February 2023 224,975 1,654,104 2,345,642
DEPRECIATION
At 1st March 2022 115,255 1,245,163 1,655,449
Charge for year 18,861 96,749 131,565
Eliminated on disposal - (1,014 ) (1,014 )
At 28th February 2023 134,116 1,340,898 1,786,000
NET BOOK VALUE
At 28th February 2023 90,859 313,206 559,642
At 28th February 2022 109,720 365,847 647,099

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


10. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st March 2022 125,196
Transfer to ownership (125,196 )
At 28th February 2023 -
DEPRECIATION
At 1st March 2022 33,686
Transfer to ownership (33,686 )
At 28th February 2023 -
NET BOOK VALUE
At 28th February 2023 -
At 28th February 2022 91,510

Company
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st March 2022
and 28th February 2023 214,079 88,019 227,879 529,977
DEPRECIATION
At 1st March 2022 90,925 85,211 215,267 391,403
Charge for year 2,796 2,156 5,268 10,220
At 28th February 2023 93,721 87,367 220,535 401,623
NET BOOK VALUE
At 28th February 2023 120,358 652 7,344 128,354
At 28th February 2022 123,154 2,808 12,612 138,574

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st March 2022
and 28th February 2023 100
NET BOOK VALUE
At 28th February 2023 100
At 28th February 2022 100

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Computer and Design Services Limited
Registered office: England & Wales
Nature of business: Suppliers of software and construction services
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 2,352,409 2,127,164
Profit for the year 225,245 276,270


The Group also held a 51% interest in the Ordinary share capital of CADS Software India Private Limited, suppliers of software and construction services registered in India. As required under company law in India, CADS Software India Private Limited prepares financial statements to 31st March each year. The financial statements for the years ended 31st March 2022 and 2023 have been subject to statutory audit in India.

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 2,307,789 1,897,871 - -
Amounts owed by group undertakings - - - 104,662
Other debtors 382,664 288,995 - -
Tax 167,624 - - -
Deferred tax asset 132,298 27,065 - -
Prepayments 290,008 269,611 - -
3,280,383 2,483,542 - 104,662

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Deferred tax asset
Group Company
2023 2022 2023 2022
£    £    £    £   
Accelerated capital allowances 12,501 (6,741 ) - -
Tax losses carried forward 80,127 - - -
Other timing differences 39,670 33,806 - -
132,298 27,065 - -

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 14) 80,000 22,159 - -
Hire purchase contracts (see note 15) - 19,528 - -
Advance payments 1,796,560 1,464,676 - -
Trade creditors 266,025 215,077 - -
Amounts owed to group undertakings - - 402,523 -
Tax 20,541 12,091 20,541 18,702
Social security and other taxes 74,319 58,863 - -
VAT 64,210 119,811 - -
Other creditors 395,877 420,641 - -
Accruals and deferred income 628,627 640,616 - -
3,326,159 2,973,462 423,064 18,702

14. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 80,000 22,159

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year - 19,528

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


15. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 18,834 4,810
Between one and five years 267,531 504,183
In more than five years 266,667 316,667
553,032 825,660

16. PROVISIONS FOR LIABILITIES

Company
2023 2022
£    £   
Deferred tax
Accelerated capital allowances - 793

Other provisions - -

Aggregate amounts - 793

Group
Deferred
tax Gratuities
£    £   
Balance at 1st March 2022 (27,065 ) 146,898
Provided during year (105,233 ) 27,809
Balance at 28th February 2023 (132,298 ) 174,707

Company
Deferred
tax
£   
Balance at 1st March 2022 793
Balance at 28th February 2023 793

The provision for Gratuities relates to amounts payable by CADS Software India Private Limited (CSI), under the Payment of Gratuity Act 1972, to employees and former employees in respect of their service to CSI. Such amounts are payable upon leaving the company and are allowable as a tax deduction in computing the Company's profit when paid.

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60 'A' Ordinary £1 60 60
20 'B' Ordinary £1 20 20
NIL 'C' Ordinary £1 - 20
(2022 - 20 )
80 100

On 4th November 2022 the company purchased 20 £1 Ordinary Shares for a consideration of £320,000.

18. RESERVES

Group
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st March 2022 3,492,169 - 3,492,169
Profit for the year 296,078 296,078
Purchase of own shares (320,000 ) 20 (319,980 )
Exchange movements 70,336 - 70,336
At 28th February 2023 3,538,583 20 3,538,603

Company
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st March 2022 951,678 - 951,678
Profit for the year 77,009 77,009
Purchase of own shares (320,000 ) 20 (319,980 )
At 28th February 2023 708,687 20 708,707


19. NON-CONTROLLING INTERESTS

The Minority Interests consist of a 49% equity interest in the shares of CADS Software India Private Limited

20. RELATED PARTY DISCLOSURES

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28th February 2023


20. RELATED PARTY DISCLOSURES - continued

Entities over which the entity has control, joint control or significant influence
2023 2022
£    £   
Sales of software 706,551 460,216
Software development and other services purchased 3,257,692 2,680,198
Amount due from related party 169,717 167,276

Key management personnel of the entity or its parent (in the aggregate)
2023 2022
£    £   
Sales 1,146,679 818,745
Purchases 784,577 767,814
Consultancy and other services 184,721 23,434
Key management personnel compensation 354,302 375,749
Amount due from related parties 471,454 418,858
Amount due to related party 376,110 265,640

The key management personnel are considered to be the directors of Gainpeak Ltd.

21. ULTIMATE CONTROLLING PARTY

The controlling party is J W P Fryett.