Company Registration No. 08978975 (England and Wales)
GIT Direct Ltd
Unaudited accounts
for the year ended 30 April 2024
GIT Direct Ltd
Company Information
for the year ended 30 April 2024
Company Number
08978975 (England and Wales)
Registered Office
73a High Street
Egham
Surrey
TW20 9HE
United Kingdom
Accountants
Howard and Company
High Street
Egham
Surrey
TW20 9HE
GIT Direct Ltd
Statement of financial position
as at 30 April 2024
Tangible assets
47,208
14,361
Cash at bank and in hand
151,389
217,435
Creditors: amounts falling due within one year
(237,375)
(220,344)
Net current assets
127,946
152,299
Total assets less current liabilities
175,154
166,660
Provisions for liabilities
Deferred tax
(11,802)
(3,590)
Net assets
163,352
163,070
Called up share capital
100
100
Profit and loss account
163,252
162,970
Shareholders' funds
163,352
163,070
For the year ending 30 April 2024 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 his 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 5 August 2024 and were signed on its behalf by
M D Mason
Director
Company Registration No. 08978975
GIT Direct Ltd
Notes to the Accounts
for the year ended 30 April 2024
GIT Direct Ltd is a private company, limited by shares, registered in England and Wales, registration number 08978975. The registered office is 73a High Street, Egham, Surrey, TW20 9HE, 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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable for services supplied, excluding discounts, rebates and value added tax. Turnover from the rendering of services is recognised when goods have been delivered to the recipient.
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:
Motor vehicles
25% of book value
Computer equipment
25% of book value
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
GIT Direct Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 May 2023
277
45,271
45,548
Additions
600
45,995
46,595
Disposals
-
(20,521)
(20,521)
At 30 April 2024
877
70,745
71,622
At 1 May 2023
160
31,027
31,187
Charge for the year
105
8,731
8,836
On disposals
-
(15,609)
(15,609)
At 30 April 2024
265
24,149
24,414
At 30 April 2024
612
46,596
47,208
At 30 April 2023
117
14,244
14,361
Amounts falling due within one year
Trade debtors
211,949
152,124
Accrued income and prepayments
1,983
1,932
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
55
289
Trade creditors
210,168
190,898
Taxes and social security
23,181
25,476
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free and repayable on demand
1,152
-
1,152
-
Loans to directors are interest free and repayable on demand.
GIT Direct Ltd
Notes to the Accounts
for the year ended 30 April 2024
8
Average number of employees
During the year the average number of employees was 3 (2023: 4).