Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31false2022-08-01Sale of cash registers11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07722421 2022-08-01 2023-07-31 07722421 2021-08-01 2022-07-31 07722421 2023-07-31 07722421 2022-07-31 07722421 c:Director1 2022-08-01 2023-07-31 07722421 d:MotorVehicles 2022-08-01 2023-07-31 07722421 d:MotorVehicles 2023-07-31 07722421 d:MotorVehicles 2022-07-31 07722421 d:FurnitureFittings 2022-08-01 2023-07-31 07722421 d:FurnitureFittings 2023-07-31 07722421 d:FurnitureFittings 2022-07-31 07722421 d:Goodwill 2023-07-31 07722421 d:Goodwill 2022-07-31 07722421 d:CurrentFinancialInstruments 2023-07-31 07722421 d:CurrentFinancialInstruments 2022-07-31 07722421 d:Non-currentFinancialInstruments 2023-07-31 07722421 d:Non-currentFinancialInstruments 2022-07-31 07722421 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07722421 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 07722421 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 07722421 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 07722421 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 07722421 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 07722421 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 07722421 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 07722421 d:ShareCapital 2023-07-31 07722421 d:ShareCapital 2022-07-31 07722421 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 07722421 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 07722421 c:FRS102 2022-08-01 2023-07-31 07722421 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 07722421 c:FullAccounts 2022-08-01 2023-07-31 07722421 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07722421 2 2022-08-01 2023-07-31 07722421 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 07722421









GCR TRADING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
GCR TRADING LIMITED
REGISTERED NUMBER: 07722421

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 6 
35,564
37,126

Cash at bank and in hand
 7 
18,455
34,212

  
54,019
71,338

Creditors: amounts falling due within one year
 8 
(37,482)
(52,429)

Net current assets
  
 
 
16,537
 
 
18,909

Total assets less current liabilities
  
16,537
18,909

Creditors: amounts falling due after more than one year
 9 
(16,437)
(18,809)

  

Net assets
  
100
100


Capital and reserves
  

Called up share capital 
  
100
100

  
100
100


Page 1

 
GCR TRADING LIMITED
REGISTERED NUMBER: 07722421
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers 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 director acknowledges his 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 on 17 April 2024.





................................................
G Russell
Director


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
GCR TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The Company is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was the sale of cash registers.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
GCR TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
GCR TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
GCR TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
92,500



At 31 July 2023

92,500



Amortisation


At 1 August 2022
92,500



At 31 July 2023

92,500



Net book value



At 31 July 2023
-



At 31 July 2022
-



Page 6

 
GCR TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 August 2022
3,750
4,392
8,142



At 31 July 2023

3,750
4,392
8,142



Depreciation


At 1 August 2022
3,750
4,392
8,142



At 31 July 2023

3,750
4,392
8,142



Net book value



At 31 July 2023
-
-
-



At 31 July 2022
-
-
-


6.


Debtors

2023
2022
£
£


Trade debtors
35,564
37,126

35,564
37,126



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
18,455
34,212

18,455
34,212


Page 7

 
GCR TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
2,887
2,887

Corporation tax
8,020
9,986

Other taxation and social security
7,751
10,820

Other creditors
17,099
27,086

Accruals and deferred income
1,725
1,650

37,482
52,429



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,437
18,809

16,437
18,809



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
2,887
2,887

Amounts falling due 1-2 years

Bank loans
2,887
2,887

Amounts falling due 2-5 years

Bank loans
13,550
15,922


19,324
21,696


Page 8

 
GCR TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
18,455
34,212




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


Controlling party

The Company is controlled by the director, G Russell, by virtue of his shareholding as described in the director's report. 

 
Page 9