Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-3144falsefalse2022-11-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02736258 2022-11-01 2023-10-31 02736258 2021-11-01 2022-10-31 02736258 2023-10-31 02736258 2022-10-31 02736258 c:Director1 2022-11-01 2023-10-31 02736258 d:CurrentFinancialInstruments 2023-10-31 02736258 d:CurrentFinancialInstruments 2022-10-31 02736258 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 02736258 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 02736258 d:ShareCapital 2023-10-31 02736258 d:ShareCapital 2022-10-31 02736258 c:OrdinaryShareClass1 2022-11-01 2023-10-31 02736258 c:OrdinaryShareClass1 2023-10-31 02736258 c:OrdinaryShareClass1 2022-10-31 02736258 c:FRS102 2022-11-01 2023-10-31 02736258 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 02736258 c:FullAccounts 2022-11-01 2023-10-31 02736258 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 02736258 d:EntityControlledByKeyManagementPersonnel1 2022-11-01 2023-10-31 02736258 d:EntityControlledByKeyManagementPersonnel1 2023-10-31 02736258 d:EntityControlledByKeyManagementPersonnel1 2022-10-31 02736258 2 2022-11-01 2023-10-31 02736258 e:PoundSterling 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02736258









GEE LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
GEE LIMITED
REGISTERED NUMBER: 02736258

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Tangible assets
  
-
-

Current assets
  

Debtors: amounts falling due within one year
 5 
170,536
306,567

Cash at bank and in hand
  
63,566
9,929

  
234,102
316,496

Creditors: amounts falling due within one year
 6 
(234,096)
(316,490)

Net current assets
  
 
 
6
 
 
6

Total assets less current liabilities
  
6
6

Net assets
  
6
6


Capital and reserves
  

Called up share capital 
 7 
6
6


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P J M Williams
Director

Date: 5 April 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
GEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Gee Limited is a private company, limited by shares, incorporated in England and Wales. The address of its registered office is 26-28 Neal Street, London, WC2H 9QQ.
The functional and presentational currency of the company is considered to be pounds sterling (£) being the currency of the primary economic in which the company operates

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of service charges to the long leaseholders of the company's freehold property, exclusive of value added tax. Charges are recognised in accordance with the terms under the leases.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

  
2.6

Tangible Fixed Assets

The company owns a freehold property which it acquired for no consideration.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The company's freehold property has no cost, therefore no depreciation on the company's freehold property has been charged.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

Page 2

 
GEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets
Page 3

 
GEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible Fixed Assets

The cost of the company's freehold property is £Nil (2022 - £Nil).
The company's freehold property is subject to long leases, each of a duration of one hundred and twenty five years, which were granted prior to the company's acquisition of the freehold property. The directors, or companies in which they have an interest, are lessees of the company's freehold property.


5.


Debtors

2023
2022
£
£


Trade debtors
-
297,973

Other debtors
170,536
7,674

Prepayments and accrued income
-
920

170,536
306,567



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
39,665
91,384

Other taxation and social security
2,109
-

Other creditors
174,694
215,873

Accruals and deferred income
17,628
9,233

234,096
316,490


Page 4

 
GEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



6 (2022 - 6) Ordinary shares of £1.00 each
6
6



8.


Related party transactions

At the balance sheet date, Universal Consolidated Group Limited, a a material shareholder, owed the company £170,536 (2022- £295,526).
Included in trade creditors is a balance of £28,992 (2022 - £87,446) owed to Universal Consolidated Group Limited.


Page 5