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REGISTERED NUMBER: 10208335 (England and Wales)















GMC HOME SOLUTIONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






GMC HOME SOLUTIONS LTD (REGISTERED NUMBER: 10208335)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GMC HOME SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: M D J Thomas





REGISTERED OFFICE: 62 Abingdon Road
Bramhall
Stockport
SK7 3HA





REGISTERED NUMBER: 10208335 (England and Wales)





ACCOUNTANTS: Clarke Nicklin LLP
Chartered Accountants
Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD

GMC HOME SOLUTIONS LTD (REGISTERED NUMBER: 10208335)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 510 1,005
Tangible assets 5 48,264 58,434
48,774 59,439

CURRENT ASSETS
Debtors 6 14,900 30,603
Cash at bank 51,357 25,127
66,257 55,730
CREDITORS
Amounts falling due within one year 7 46,539 46,206
NET CURRENT ASSETS 19,718 9,524
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,492

68,963

CREDITORS
Amounts falling due after more than one
year

8

(30,949

)

(45,460

)

PROVISIONS FOR LIABILITIES (7,730 ) (9,570 )
NET ASSETS 29,813 13,933

CAPITAL AND RESERVES
Called up share capital 9 120 120
Retained earnings 29,693 13,813
SHAREHOLDERS' FUNDS 29,813 13,933

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GMC HOME SOLUTIONS LTD (REGISTERED NUMBER: 10208335)

BALANCE SHEET - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 February 2024 and were signed by:





M D J Thomas - Director


GMC HOME SOLUTIONS LTD (REGISTERED NUMBER: 10208335)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

GMC Home Solutions 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.

Going concern
The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 nil years.

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 cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


GMC HOME SOLUTIONS LTD (REGISTERED NUMBER: 10208335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 1,500
AMORTISATION
At 1 July 2022 495
Charge for year 495
At 30 June 2023 990
NET BOOK VALUE
At 30 June 2023 510
At 30 June 2022 1,005

GMC HOME SOLUTIONS LTD (REGISTERED NUMBER: 10208335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 1,500 1,000 91,768 3,711 97,979
Additions 4,566 - - 3,337 7,903
At 30 June 2023 6,066 1,000 91,768 7,048 105,882
DEPRECIATION
At 1 July 2022 1,000 590 35,000 2,955 39,545
Charge for year 2,022 82 14,192 1,777 18,073
At 30 June 2023 3,022 672 49,192 4,732 57,618
NET BOOK VALUE
At 30 June 2023 3,044 328 42,576 2,316 48,264
At 30 June 2022 500 410 56,768 756 58,434

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,200 19,800
Amounts recoverable on contract 4,700 10,803
14,900 30,603

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,450 9,200
Taxation and social security 34,763 34,157
Other creditors 4,326 2,849
46,539 46,206

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 9,530 16,980
Hire purchase contracts 21,419 28,480
30,949 45,460

GMC HOME SOLUTIONS LTD (REGISTERED NUMBER: 10208335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
120 Ordinary £1 120 120

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M D J Thomas.