IRIS Accounts Production v23.3.1.45 08872811 Board of Directors 1.1.23 31.12.23 31.12.23 7.3.24 false true false false true false Auditors Opinion Ordinary and Deferred Shares 0.0500 Series A Preference Shares 0.0500 Series A1 Preference Shares 0.0500 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh088728112022-12-31088728112023-12-31088728112023-01-012023-12-31088728112021-12-31088728112022-01-012022-12-31088728112022-12-3108872811ns10:Originalns15:EnglandWales2023-01-012023-12-3108872811ns14:PoundSterlingns10:Original2023-01-012023-12-3108872811ns10:Originalns10:Director12023-01-012023-12-3108872811ns10:Original2023-01-012023-12-3108872811ns10:Original2023-12-3108872811ns10:Originalns10:PrivateLimitedCompanyLtd2023-01-012023-12-3108872811ns10:Originalns10:SmallEntities2023-01-012023-12-3108872811ns10:Originalns10:Audited2023-01-012023-12-3108872811ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3108872811ns10:SmallCompaniesRegimeForAccountsns10:Original2023-01-012023-12-3108872811ns10:Originalns10:FullAccounts2023-01-012023-12-3108872811ns10:Originalns10:OrdinaryShareClass12023-01-012023-12-3108872811ns10:Originalns10:OrdinaryShareClass22023-01-012023-12-3108872811ns10:OrdinaryShareClass3ns10:Original2023-01-012023-12-3108872811ns10:Originalns10:Director22023-01-012023-12-3108872811ns10:Originalns10:Director32023-01-012023-12-3108872811ns10:Originalns10:Director42023-01-012023-12-3108872811ns10:Originalns10:RegisteredOffice2023-01-012023-12-3108872811ns10:Original2022-12-3108872811ns10:Originalns5:CurrentFinancialInstruments2023-12-3108872811ns10:Originalns5:CurrentFinancialInstruments2022-12-3108872811ns5:ShareCapitalns10:Original2023-12-3108872811ns5:ShareCapitalns10:Original2022-12-3108872811ns10:Originalns5:SharePremium2023-12-3108872811ns10:Originalns5:SharePremium2022-12-3108872811ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-12-3108872811ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-12-3108872811ns10:Original12023-01-012023-12-3108872811ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-01-012023-12-3108872811ns10:Originalns5:PlantMachinery2023-01-012023-12-3108872811ns10:Originalns5:MotorVehicles2023-01-012023-12-3108872811ns10:Originalns5:ComputerEquipment2023-01-012023-12-3108872811ns10:Original2022-01-012022-12-3108872811ns10:Originalns5:PlantMachinery2022-12-3108872811ns10:Originalns5:MotorVehicles2022-12-3108872811ns10:Originalns5:ComputerEquipment2022-12-3108872811ns10:Original2022-12-3108872811ns10:Originalns5:PlantMachinery2023-12-3108872811ns10:Originalns5:MotorVehicles2023-12-3108872811ns10:Originalns5:ComputerEquipment2023-12-3108872811ns10:Originalns5:PlantMachinery2022-12-3108872811ns10:Originalns5:MotorVehicles2022-12-3108872811ns10:Originalns5:ComputerEquipment2022-12-3108872811ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3108872811ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3108872811ns10:Originalns5:WithinOneYear2023-12-3108872811ns10:Originalns5:WithinOneYear2022-12-3108872811ns5:BetweenOneFiveYearsns10:Original2023-12-3108872811ns5:BetweenOneFiveYearsns10:Original2022-12-3108872811ns10:Originalns5:AllPeriods2023-12-3108872811ns10:Originalns5:AllPeriods2022-12-3108872811ns10:Originalns10:OrdinaryShareClass12023-12-3108872811ns10:Originalns10:OrdinaryShareClass22023-12-3108872811ns10:OrdinaryShareClass3ns10:Original2023-12-3108872811ns10:Original12023-01-012023-12-31
REGISTERED NUMBER: 08872811 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Gophr Limited

Gophr Limited (Registered number: 08872811)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gophr Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C Ferrer Roqueta
C G McComb
S Robert
K Worsa



REGISTERED OFFICE: Spitalfields House 1st Floor
Stirling Way
Borehamewood
WD6 2FX



REGISTERED NUMBER: 08872811 (England and Wales)



SENIOR STATUTORY AUDITOR: Michael Marcus FCA FCCA



AUDITORS: Primera Accountants Limited
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

Gophr Limited (Registered number: 08872811)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,897 67,292

CURRENT ASSETS
Debtors 5 1,268,990 1,179,135
Cash at bank 283,219 443,565
1,552,209 1,622,700
CREDITORS
Amounts falling due within one year 6 1,384,467 1,931,884
NET CURRENT ASSETS/(LIABILITIES) 167,742 (309,184 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,639

(241,892

)

CAPITAL AND RESERVES
Called up share capital 8 662 626
Share premium 6,207,058 5,207,035
Retained earnings (6,002,081 ) (5,449,553 )
SHAREHOLDERS' FUNDS 205,639 (241,892 )

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 7 March 2024 and were signed on its behalf by:





S Robert - Director


Gophr Limited (Registered number: 08872811)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Gophr Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on the amounts recognised in the financial statements:

Trade debtors: the recoverability of trade debtors is a significant judgement and any impairment is based on management's knowledge of the industry and the customers.

Turnover
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:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are
provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:
-the amount of revenue can be measured reliably;
-it is probable that the Company will receive the consideration due under the contract;
-the stage of completion of the contract at the end of the reporting period can be measured reliably; and
-the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets
Other than Research and Development Costs which are written off when incurred, intangible assets are initially measured at cost and thereafter at cost less any accumulated amortisation and any accumulated impairment losses.

Gophr Limited (Registered number: 08872811)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - straight line over 3 years

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

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.

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

Gophr Limited (Registered number: 08872811)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

Research and Development tax claims are recognised within taxation on the cash basis.


Gophr Limited (Registered number: 08872811)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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. No deferred tax asset has been recognised.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 67 ) .

Gophr Limited (Registered number: 08872811)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 3,479 29,094 98,574 131,147
Additions - - 6,706 6,706
Disposals - - (3,910 ) (3,910 )
At 31 December 2023 3,479 29,094 101,370 133,943
DEPRECIATION
At 1 January 2023 2,804 5,819 55,232 63,855
Charge for year 675 5,334 26,182 32,191
At 31 December 2023 3,479 11,153 81,414 96,046
NET BOOK VALUE
At 31 December 2023 - 17,941 19,956 37,897
At 31 December 2022 675 23,275 43,342 67,292

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 1,233,303 1,057,389
Sundry debtors 3,660 5,454
Prepayments 32,027 116,292
1,268,990 1,179,135

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 56,154
Trade creditors 220,326 83,178
Social security and other taxes 68,424 428,065
VAT 858,968 1,082,306
Other creditors 24,221 28,572
Accruals and deferred income 212,528 253,609
1,384,467 1,931,884

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year - 28,800
Between one and five years - 14,400
- 43,200

Gophr Limited (Registered number: 08872811)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
96,710 Ordinary and Deferred Shares £0.00 5 484 484
28,482 Series A Preference Shares £0.00 5 142 142
7,121 Series A1 Preference Shares £0.00 5 36 -
662 626

On 27 March 2023, 7121, Ordinary Shares with a nominal value of £0.005 per share were allotted at £140.44 per share. Share premium of £1,000,023 arose on this issue.

During the year 866 Ordinary shares of £0.005 each were redesignated into 866 Deferred Shares of £0.005 each. As a result there are 95,844 Ordinary shares of £0.005 each.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Marcus FCA FCCA (Senior Statutory Auditor)
for and on behalf of Primera Accountants Limited

10. POST BALANCE SHEET EVENTS

As part of a funding round completed after the year end, the company has raised finance of £500,000 by means of a conertiable loan note.

The company is also in negotiations for an additional revenue-based facility of £400,000.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

12. PENSION COMMITMENTS

The company operates a defined contribution pension plan. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £48,956 (2022: £72,190). Contributions totalling £10,766 (2021: £12,631) were payable to the fund at the balance sheet date.

13. GOING CONCERN

The company had net current assets of £167,742 (2022: net current liabilities of £309,184), and net assets of £205,639) (2022: net liabilities of £241,892) at the balance sheet date.

The company has secured additional funding of £500,000 by means of a convertible loan note as detailed in Note 10 and the directors have put in place a remedial action plan which they consider will generate sufficient cash flow to ensure that the company continues to meet its liabilities as they fall due. Consequently the directors consider it appropriate to prepare the financial statements on the going concern basis. The directors have made this assessment for a period of at least twelve months from the date of the approval of these financial statements.