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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
Director
M D Mason
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
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GIT Direct Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
47,208 
14,361 
Current assets
Debtors
213,932 
155,208 
Cash at bank and in hand
151,389 
217,435 
365,321 
372,643 
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 
Capital and reserves
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
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GIT Direct Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 taxation
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.
Leased assets
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.
Pension costs
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.
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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 
Depreciation
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 
Net book value
At 30 April 2024
612 
46,596 
47,208 
At 30 April 2023
117 
14,244 
14,361 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
211,949 
152,124 
Accrued income and prepayments
1,983 
1,932 
Other debtors
- 
1,152 
213,932 
155,208 
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 
Other creditors
1,098 
981 
Accruals
2,873 
2,700 
237,375 
220,344 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Interest free and repayable on demand
1,152 
- 
1,152 
- 
1,152 
- 
1,152 
- 
Loans to directors are interest free and repayable on demand.
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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).
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