IRIS Accounts Production v23.4.0.336 SC533976 Board of Directors 1.7.22 30.6.23 30.6.23 29.3.24 false true false false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5339762022-06-30SC5339762023-06-30SC5339762022-07-012023-06-30SC5339762021-04-30SC5339762021-05-012022-06-30SC5339762022-06-30SC533976ns15:Scotland2022-07-012023-06-30SC533976ns14:PoundSterling2022-07-012023-06-30SC533976ns10:Director12022-07-012023-06-30SC533976ns10:PrivateLimitedCompanyLtd2022-07-012023-06-30SC533976ns10:SmallEntities2022-07-012023-06-30SC533976ns10:Audited2022-07-012023-06-30SC533976ns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-30SC533976ns10:SmallCompaniesRegimeForAccounts2022-07-012023-06-30SC533976ns10:AbridgedAccounts2022-07-012023-06-30SC53397612022-07-012023-06-30SC533976ns10:Director22022-07-012023-06-30SC533976ns10:Director32022-07-012023-06-30SC533976ns10:RegisteredOffice2022-07-012023-06-30SC533976ns5:CurrentFinancialInstruments2023-06-30SC533976ns5:CurrentFinancialInstruments2022-06-30SC533976ns5:ShareCapital2023-06-30SC533976ns5:ShareCapital2022-06-30SC533976ns5:FurtherSpecificReserve1ComponentTotalEquity2023-06-30SC533976ns5:FurtherSpecificReserve1ComponentTotalEquity2022-06-30SC533976ns5:RetainedEarningsAccumulatedLosses2023-06-30SC533976ns5:RetainedEarningsAccumulatedLosses2022-06-30SC53397612022-07-012023-06-30SC533976ns5:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-30SC533976ns5:ComputerSoftware2022-07-012023-06-30
REGISTERED NUMBER: SC533976 (Scotland)















Audited Financial Statements For The Year Ended 30 June 2023

for

GT4 Software Limited

GT4 Software Limited (Registered number: SC533976)






Contents of the Financial Statements
For The Year Ended 30 June 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


GT4 Software Limited

Company Information
For The Year Ended 30 June 2023







DIRECTORS: T Brown
S Cumming
I J Johnstone





REGISTERED OFFICE: C/O Davidson Chalmers Stewart Llp
163 Bath Street
Glasgow
G2 4SQ





REGISTERED NUMBER: SC533976 (Scotland)





INDEPENDENT AUDITORS: Robb Ferguson
Chartered Accountants & Statutory Auditors
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

GT4 Software Limited (Registered number: SC533976)

Abridged Statement of Financial Position
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 456,212 582,936

CURRENT ASSETS
Debtors - 633,724

CREDITORS
Amounts falling due within one year 418,480 1,178,928
NET CURRENT LIABILITIES (418,480 ) (545,204 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,732

37,732

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 1,267,250 1,267,250
Retained earnings (1,229,618 ) (1,229,618 )
37,732 37,732

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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 29 March 2024 and were signed on its behalf by:





S Cumming - Director


GT4 Software Limited (Registered number: SC533976)

Notes to the Financial Statements
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

GT4 Software Limited is a private company, limited by shares , registered in Scotland. 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.

The financial statements have been prepared under the historical cost convention. The principal accounting
policies are set out below.

The financial statements of the company are consolidated in the financial statement's of The GT4 Group Limited. These consolidated financial statements are available from its registered office, C/O Davidson Chalmers Stewart Llp, 163 Bath Street, Glasgow, Scotland, G2 4SQ.

Related party exemption
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.

Critical accounting judgements and key sources of estimation uncertainty
In the application af the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

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 ten years.

GT4 Software Limited (Registered number: SC533976)

Notes to the Financial Statements - continued
For The Year Ended 30 June 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 af interest. Financial assets Classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of
impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that
occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or it some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.


GT4 Software Limited (Registered number: SC533976)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

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 statement of financial position date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be
recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity. in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022
and 30 June 2023 1,267,250
AMORTISATION
At 1 July 2022 684,314
Amortisation for year 126,724
At 30 June 2023 811,038
NET BOOK VALUE

At 30 June 2023 456,212
At 30 June 2022 582,936

GT4 Software Limited (Registered number: SC533976)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

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

The Report of the Auditors was unqualified.

Graham Cantlay (Senior Statutory Auditor)
for and on behalf of Robb Ferguson

6. PARENT COMPANY

GT4 Software Limited is a 100% subsidiary of The GT4 Group Limited, a company incorporated in Scotland, which is under the control of IJ Johnstone.

7. SECURED DEBTS

The entity has a floating charge over its assets which contains a negative pledge. This has been provided through the group, as such a corporate guarantee exists.