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REGISTERED NUMBER: 05228867 (England and Wales)
























GFT FRAMES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






GFT FRAMES LTD (REGISTERED NUMBER: 05228867)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GFT FRAMES LTD

COMPANY INFORMATION
for the Year Ended 30 September 2023







DIRECTORS: P Curtis
D L Davis





SECRETARY:





REGISTERED OFFICE: Unit J6 The Fulcrum Centre
Vantage Way
Poole
Dorset
BH12 4NU





REGISTERED NUMBER: 05228867 (England and Wales)





ACCOUNTANTS: Sau Kee Li CTA ATT
87 North Road
Parkstone
Poole
Dorset
BH14 0LT

GFT FRAMES LTD (REGISTERED NUMBER: 05228867)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 67,918 48,732

CURRENT ASSETS
Debtors 5 495,034 263,559
Cash at bank and in hand 374,702 411,723
869,736 675,282
CREDITORS
Amounts falling due within one year 6 682,421 494,224
NET CURRENT ASSETS 187,315 181,058
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,233

229,790

CREDITORS
Amounts falling due after more than one
year

7

26,667

36,340
NET ASSETS 228,566 193,450

CAPITAL AND RESERVES
Called up share capital 70 70
Retained earnings 228,496 193,380
SHAREHOLDERS' FUNDS 228,566 193,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

GFT FRAMES LTD (REGISTERED NUMBER: 05228867)

BALANCE SHEET - continued
30 September 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 24 November 2023 and were signed on its behalf by:





P Curtis - Director


GFT FRAMES LTD (REGISTERED NUMBER: 05228867)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

GFT Frames Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 12 ) .

GFT FRAMES LTD (REGISTERED NUMBER: 05228867)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 October 2022 184,391
Additions 41,825
At 30 September 2023 226,216
DEPRECIATION
At 1 October 2022 135,659
Charge for year 22,639
At 30 September 2023 158,298
NET BOOK VALUE
At 30 September 2023 67,918
At 30 September 2022 48,732

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 395,547 179,792
Other debtors 99,487 83,767
495,034 263,559

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 560,922 451,582
Taxation and social security 31,626 15,870
Other creditors 89,873 26,772
682,421 494,224

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 26,667 36,340

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 26,667 36,340