Company Registration No. 12283244 (England and Wales)
GCMINFOTECH LIMITED
Unaudited accounts
for the year ended 31 October 2023
GCMINFOTECH LIMITED
Statement of financial position
as at 31 October 2023
Cash at bank and in hand
1,583
1,405
Creditors: amounts falling due within one year
(17,425)
(6,737)
Net current (liabilities)/assets
(7,255)
2,617
Total assets less current liabilities
(6,771)
3,585
Creditors: amounts falling due after more than one year
-
(277)
Net (liabilities)/assets
(6,771)
3,308
Called up share capital
1
1
Profit and loss account
(6,772)
3,307
Shareholders' funds
(6,771)
3,308
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 July 2024 and were signed on its behalf by
RANI BINOY
Director
Company Registration No. 12283244
GCMINFOTECH LIMITED
Notes to the Accounts
for the year ended 31 October 2023
GCMINFOTECH LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12283244. The registered office is 282 WALSGRAVE ROAD, COVENTRY, COVENTRY, WEST MIDLANDS, CV2 4BL, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
Straightline method for 5 years.
Computer equipment
Straightlien method for 5 years.
During January 2023, the company GCMINFOTECH Limited experienced a theft incident at the premises that resulted in significant financial losses as follows:
The Total Losses of £37500 detailed as below:
Stock Stolen: Inventory valued at £20,500 was stolen.
Customer Service Items Stolen: Items specifically held for customer service purposes, valued at £9,500, were stolen.
Damages to Shop: The shop sustained damages to the premises and display units computer and CCTV amounting to £7,500. The inventory losses are expensed in other direct cost for £20,500 and sundry expense of £17,000 for Customer Service Items stolen and internal including display units and external damages to the shop.
The liability for £17,000 shown in creditors less than one year in other creditors.
GCMINFOTECH LIMITED
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2022
1,620
800
2,420
At 31 October 2023
1,620
800
2,420
At 1 November 2022
972
480
1,452
Charge for the year
324
160
484
At 31 October 2023
1,296
640
1,936
At 31 October 2023
324
160
484
At 31 October 2022
648
320
968
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
751
Other creditors
17,425
425
Loans from directors
-
5,561
7
Creditors: amounts falling due after more than one year
2023
2022
Taxes and social security
-
277
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).