REGISTERED NUMBER: |
GGR COMMUNICATIONS LIMITED |
Financial Statements for the Year Ended 31 March 2023 |
REGISTERED NUMBER: |
GGR COMMUNICATIONS LIMITED |
Financial Statements for the Year Ended 31 March 2023 |
GGR COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02929785) |
Contents of the Financial Statements |
for the year ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 6 |
GGR COMMUNICATIONS LIMITED |
Company Information |
for the year ended 31 March 2023 |
Director: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
CUBO Birmingham |
Office 401, 4th Floor |
Two Chamberlain Square |
Birmingham |
West Midlands |
B3 3AX |
Bankers: |
PO Box 299 |
Birmingham |
B1 3PF |
GGR COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02929785) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Share premium |
Capital redemption reserve |
Retained earnings |
Shareholders' funds |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
GGR COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02929785) |
Notes to the Financial Statements |
for the year ended 31 March 2023 |
1. | Statutory information |
GGR Communications Limited is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Going concern |
The director has prepared the financial statements on a going concern basis for a period of not less than 12 months from the date of signature. The company is trading profitably, and in light of future projections and positive net assets of £1,255,487 at the reporting date, the director considers the going concern basis to be appropriate. |
Turnover |
The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year, exclusive of Value Added Tax. |
Income received in advance in respect of contracts for the provision of maintenance and software is deferred and taken to the income statement over the life of the contract. |
Tangible fixed assets |
Tangible fixed assets are recognised at cost less accumulated depreciation and any accumulated impairment losses. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Long leasehold | - | straight line over 125 years |
Fixtures and fittings | - | straight line over 3 years |
Motor vehicles | - | straight line over 3 years |
Computer equipment | - | straight line over 3 years |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
GGR COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02929785) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
3. | Accounting policies - continued |
Deferred taxation |
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. |
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 agreements |
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
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. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses. |
Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
4. | Employees and directors |
The average number of employees during the year was |
GGR COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02929785) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
5. | Tangible fixed assets |
Fixtures |
Long | and | Motor | Computer |
leasehold | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
Depreciation |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
Net book value |
At 31 March 2023 |
At 31 March 2022 |
6. | Debtors |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
GGR COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02929785) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
9. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 2,000 | 2,000 |
11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | Related party disclosures |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
13. | Ultimate controlling party |
The ultimate controlling party is |
14. | Ultimate parent company |
GGR Communications Group Limited (a company registered in England and Wales) is the company's ultimate parent company. |
The results of GGR Communications Limited are included in the consolidated accounts of this company. |
15. | Profit related bonus |
During the year an amount of £152,418 (2022 - £159,403) has been taken from the profit to distribute to the employees. |