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Registration number: 04380545

Gekko Partners Ltd.

Annual Report and Consolidated Financial Statements

for the Year Ended 31 March 2024

 

Gekko Partners Ltd.

Contents

Company Information

1

Strategic Report

2

Directors' Report

3

Statement of Directors' Responsibilities

4

Independent Auditor's Report

5 to 7

Consolidated Profit and Loss Account

8

Consolidated Balance Sheet

9

Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Statement of Changes in Equity

12

Consolidated Statement of Cash Flows

13

Notes to the Financial Statements

14 to 24

 

Gekko Partners Ltd.

Company Information

Directors

D Todaro

A Rosier

Company secretary

A Rosier

Registered office

2 Old Bath Road
Newbury
Berkshire
RG14 1QL

Auditors

UHY Ross Brooke
Chartered Accountants and Registered Auditors
Suite I Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1SY

 

Gekko Partners Ltd.

Strategic Report for the Year Ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.

Principal activity

The principal activity of the group is the provision of field marketing services.

Fair review of the business including principal risks and uncertainties:

Gekko has demonstrated sustained growth and profitability in the year ending 31 March 2024.

While the economic climate continues to present challenges, our ability to adapt to market trends and clients has been instrumental in our success.

We have maintained a strong focus on existing client retention as well as successfully building relationships with new clients. Organic growth has been instrumental in our success.

Our key focus for the coming year include expanding our client base and enhancing our offerings whilst focusing on delivering exceptional value to clients. New products and services have contributed to growth with some taking longer to gather momentum than anticipated however it's important to note that these risks are calculated and relatively low impact should they fail.

Investment in infrastructure including minimising cyber risks and recruitment have increased inward investment into the ongoing development of the business.

Financial key performance indicators:

Maintaining gross margins and KPI’s that retain a laser focussed approach to client delivery and company profitability to further develop and grow the business overall. This includes increased focus on employee development and support, also environmental policies and initiatives.

Approved and authorised by the Board on 25 July 2024 and signed on its behalf by:
 

.........................................
A Rosier
Company secretary and director

 

Gekko Partners Ltd.

Directors' Report for the Year Ended 31 March 2024

The directors present their report and the for the year ended 31 March 2024.

Directors of the group

The directors who held office during the year were as follows:

D Todaro

A Rosier - Company secretary and director

Disclosure of information to the auditor

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Principal activity

The principal activity of the company is the provision of field marketing services.

Approved and authorised by the Board on 25 July 2024 and signed on its behalf by:
 

.........................................
A Rosier
Company secretary and director

 

Gekko Partners Ltd.

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Gekko Partners Ltd.

Independent Auditor's Report to the Members of Gekko Partners Ltd.

Opinion

We have audited the financial statements of Gekko Partners Ltd. (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024, which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the group's and the parent company's affairs as at 31 March 2024 and of the group's profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

 

Gekko Partners Ltd.

Independent Auditor's Report to the Members of Gekko Partners Ltd.

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

the parent company financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. As such, we have considered:

 

Gekko Partners Ltd.

Independent Auditor's Report to the Members of Gekko Partners Ltd.

• the nature of the industry and sector, control environment and business performance including the company's remuneration policy, bonus levels, and performance targets;
• the company's own assessment, including assessments made by key management, of the risks that irregularities may occur either as a result of fraud or error;
• any matters we identified having reviewed the company's policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

• the matters discussed amongst the audit engagement team.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the areas in which management is required to exercise significant judgement, such as the disclosure of adjusting items. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context were the Companies Act, tax legislation and regulations concerning importing and exporting to and from the UK.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Emily Ness BFP FCA (Senior Statutory Auditor)
For and on behalf of UHY Ross Brooke, Statutory Auditor

Suite I Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1SY

25 July 2024

 

Gekko Partners Ltd.

Consolidated Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

3

13,014,096

13,329,765

Cost of sales

 

(9,914,389)

(10,208,559)

Gross profit

 

3,099,707

3,121,206

Administrative expenses

 

(2,505,973)

(2,333,736)

Operating profit

4

593,734

787,470

Other interest receivable and similar income

5

11,784

4,843

Interest payable and similar expenses

6

-

(505)

   

11,784

4,338

Profit before tax

 

605,518

791,808

Tax on profit

10

(158,296)

(152,563)

Profit for the financial year

 

447,222

639,245

Profit/(loss) attributable to:

 

Owners of the company

 

447,222

639,245

The group has no recognised gains or losses for the year other than the results above.

 

Gekko Partners Ltd.

(Registration number: 04380545)
Consolidated Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

11

32,268

44,018

Current assets

 

Debtors

13

1,509,783

1,197,894

Cash at bank and in hand

 

2,450,675

3,278,044

 

3,960,458

4,475,938

Creditors: Amounts falling due within one year

15

(1,974,113)

(1,548,565)

Net current assets

 

1,986,345

2,927,373

Total assets less current liabilities

 

2,018,613

2,971,391

Provisions for liabilities

16

(6,962)

(6,962)

Net assets

 

2,011,651

2,964,429

Capital and reserves

 

Called up share capital

18

700

1,000

Capital redemption reserve

300

-

Retained earnings

2,010,651

2,963,429

Equity attributable to owners of the company

 

2,011,651

2,964,429

Shareholders' funds

 

2,011,651

2,964,429

Approved and authorised by the Board on 25 July 2024 and signed on its behalf by:
 

.........................................
D Todaro
Director

 

Gekko Partners Ltd.

(Registration number: 04380545)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

11

30,268

42,657

Investments

12

188

188

 

30,456

42,845

Current assets

 

Debtors

13

1,181,869

853,075

Cash at bank and in hand

 

1,838,994

1,886,541

 

3,020,863

2,739,616

Creditors: Amounts falling due within one year

15

(2,847,393)

(1,478,277)

Net current assets

 

173,470

1,261,339

Total assets less current liabilities

 

203,926

1,304,184

Provisions for liabilities

16

(6,622)

(6,622)

Net assets

 

197,304

1,297,562

Capital and reserves

 

Called up share capital

18

700

1,000

Capital redemption reserve

300

-

Retained earnings

196,304

1,296,562

Shareholders' funds

 

197,304

1,297,562

The company made a profit after tax for the financial year of £299,742 (2023 - profit of £250,142).

Approved and authorised by the Board on 25 July 2024 and signed on its behalf by:
 

.........................................
D Todaro
Director

 

Gekko Partners Ltd.

Consolidated Statement of Changes in Equity for the Year Ended 31 March 2024
Equity attributable to the parent company

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

Total equity
£

At 1 April 2022

1,000

-

2,864,184

2,865,184

2,865,184

Profit for the year

-

-

639,245

639,245

639,245

Dividends

-

-

(540,000)

(540,000)

(540,000)

At 31 March 2023

1,000

-

2,963,429

2,964,429

2,964,429

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

Total equity
£

At 1 April 2023

1,000

-

2,963,429

2,964,429

2,964,429

Profit for the year

-

-

447,222

447,222

447,222

Dividends

-

-

(600,000)

(600,000)

(600,000)

Purchase of own share capital

(300)

-

(800,000)

(800,300)

(800,300)

Other capital redemption reserve movements

-

300

-

300

300

At 31 March 2024

700

300

2,010,651

2,011,651

2,011,651

 

Gekko Partners Ltd.

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 April 2022

1,000

-

1,586,420

1,587,420

Profit for the year

-

-

250,142

250,142

Dividends

-

-

(540,000)

(540,000)

At 31 March 2023

1,000

-

1,296,562

1,297,562

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 April 2023

1,000

-

1,296,562

1,297,562

Profit for the year

-

-

299,742

299,742

Dividends

-

-

(600,000)

(600,000)

Purchase of own share capital

(300)

-

(800,000)

(800,300)

Other capital redemption reserve movements

-

300

-

300

At 31 March 2024

700

300

196,304

197,304

 

Gekko Partners Ltd.

Consolidated Statement of Cash Flows for the Year Ended 31 March 2024

Note

2024
£

2023
£

Cash flows from operating activities

Profit for the year

 

447,222

639,245

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

4

19,544

18,863

Finance income

5

(11,784)

(4,843)

Finance costs

6

-

505

Income tax expense

10

158,296

152,563

 

613,278

806,333

Working capital adjustments

 

(Increase)/decrease in trade debtors

13

(311,889)

97,165

Increase in trade creditors

15

433,479

400,903

Cash generated from operations

 

734,868

1,304,401

Income taxes paid

10

(166,227)

(189,022)

Net cash flow from operating activities

 

568,641

1,115,379

Cash flows from investing activities

 

Interest received

11,784

4,843

Acquisitions of tangible assets

(7,794)

(26,703)

Net cash flows from investing activities

 

3,990

(21,860)

Cash flows from financing activities

 

Interest paid

6

-

(505)

Payments for purchase of own shares

 

(800,000)

-

Dividends paid

(600,000)

(540,000)

Net cash flows from financing activities

 

(1,400,000)

(540,505)

Net (decrease)/increase in cash and cash equivalents

 

(827,369)

553,014

Cash and cash equivalents at 1 April

 

3,278,044

2,725,030

Cash and cash equivalents at 31 March

 

2,450,675

3,278,044

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

The principal place of business is:
20-22 The Broadway
Newbury
Berkshire
RG14 1AU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 March 2024.

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% of cost

Computer equipment

33.33% of cost

Fixtures and fittings

25% of cost

Leasehold improvements

over 10 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Related party transactions

The company has taken advantage of exemptions conferred by Financial Reporting Standard 102 - Related Party Disclosures not to disclose transactions between wholly owned members of the same group.

3

Revenue

The analysis of the group's Turnover for the year from continuing operations is as follows:

2024
£

2023
£

Sale of goods

13,014,096

13,329,765

4

Operating profit

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

19,544

18,863

Operating lease expense - plant and machinery

12,557

11,609

5

Other interest receivable and similar income

2024
£

2023
£

Interest income on bank deposits

11,784

3,849

Other finance income

-

994

11,784

4,843

6

Interest payable and similar expenses

2024
£

2023
£

Interest expense on other finance liabilities

-

505

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2024
£

2023
£

Wages and salaries

7,691,368

7,155,347

Social security costs

625,037

671,196

Other short-term employee benefits

10,218

9,625

Pension costs, defined contribution scheme

40,712

35,681

Other employee expense

31,829

31,723

8,399,164

7,903,572

The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:

2024
No.

2023
No.

Directors

2

2

Management, administration and support

271

262

273

264

8

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

217,800

217,800

Contributions paid to money purchase schemes

10,000

10,000

227,800

227,800

9

Auditors' remuneration

2024
£

2023
£

Audit of these financial statements

18,850

15,438


 

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

10

Taxation

Tax charged/(credited) in the consolidated profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

158,296

150,659

UK corporation tax adjustment to prior periods

-

(1,589)

158,296

149,070

Deferred taxation

Arising from origination and reversal of timing differences

-

3,493

Tax expense in the income statement

158,296

152,563

The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2023 - higher than the standard rate of corporation tax in the UK) of 25% (2023 - 19%).

The differences are reconciled below:

2024
£

2023
£

Profit before tax

605,518

791,808

Corporation tax at standard rate

151,380

150,444

Tax increase/(decrease) from effect of capital allowances and depreciation

2,875

(3,062)

Effect of expense not deductible in determining taxable profit (tax loss)

8,465

1,761

Tax (decrease)/increase from other tax effects

(4,424)

3,420

Total tax charge

158,296

152,563

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

11

Tangible assets

Group

Short leasehold land and buildings
£

Fixtures and fittings and equipment
£

Total
£

Cost or valuation

At 1 April 2023

33,629

197,498

231,127

Additions

-

7,794

7,794

At 31 March 2024

33,629

205,292

238,921

Depreciation

At 1 April 2023

21,596

165,514

187,110

Charge for the year

3,363

16,180

19,543

At 31 March 2024

24,959

181,694

206,653

Carrying amount

At 31 March 2024

8,670

23,598

32,268

At 31 March 2023

12,033

31,985

44,018

Included within the net book value of land and buildings above is £8,670 (2023 - £12,033) in respect of short leasehold land and buildings.
 

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

Company

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

33,629

190,483

224,112

Additions

-

6,297

6,297

At 31 March 2024

33,629

196,780

230,409

Depreciation

At 1 April 2023

21,596

159,859

181,455

Charge for the year

3,363

15,323

18,686

At 31 March 2024

24,959

175,182

200,141

Carrying amount

At 31 March 2024

8,670

21,598

30,268

At 31 March 2023

12,033

30,624

42,657

Included within the net book value of land and buildings above is £8,670 (2023 - £12,033) in respect of short leasehold land and buildings.
 

12

Investments

Company

2024
£

2023
£

Investments in subsidiaries

188

188

Subsidiaries

£

Cost or valuation

At 1 April 2023

188

Provision

Carrying amount

At 31 March 2024

188

At 31 March 2023

188

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows, all subsidiary undertakings are consolidated:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Gekko Field Marketing Limited

The Black Church,
St. Mary's Place,
Dublin 7
D07 P4AX

Ordinary

100%

100%

 

Ireland

     

G2 Field Marketing Limited

2 Old Bath Road
Newbury
Berkshire
RG14 1QL

Ordinary

100%

100%

 

England

     

Subsidiary undertakings

Gekko Field Marketing Limited

The principal activity of Gekko Field Marketing Limited is that of a marketing agency.

G2 Field Marketing Limited

The principal activity of G2 Field Marketing Limited is that of a marketing agency.

13

Debtors

 

Group

Company

Current

2024
£

2023
£

2024
£

2023
£

Trade debtors

1,183,577

1,113,197

867,015

797,596

Other debtors

126,300

21,895

125,804

1,339

Prepayments

199,906

62,802

189,050

54,140

 

1,509,783

1,197,894

1,181,869

853,075

14

Cash and cash equivalents

 

Group

Company

2024
£

2023
£

2024
£

2023
£

Cash at bank

2,450,675

3,278,044

1,838,994

1,886,541

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

15

Creditors

   

Group

Company

Note

2024
£

2023
£

2024
£

2023
£

Due within one year

 

Trade creditors

 

993,048

499,882

898,030

322,465

Amounts due to related parties

-

-

1,244,720

328,728

Social security and other taxes

 

397,631

407,087

270,880

329,380

Outstanding defined contribution pension costs

 

1,827

1,625

1,827

1,625

Other payables

 

62,642

63,258

62,100

59,175

Accruals

 

358,271

408,088

341,031

381,927

Income tax liability

10

160,694

168,625

28,805

54,977

 

1,974,113

1,548,565

2,847,393

1,478,277

16

Provisions for liabilities

Group

Deferred tax
£

Total
£

At 1 April 2023

6,962

6,962

At 31 March 2024

6,962

6,962

Company

Deferred tax
£

Total
£

At 1 April 2023

6,622

6,622

At 31 March 2024

6,622

6,622

 

Gekko Partners Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2024

17

Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £40,712 (2023 - £35,681).

Contributions totalling £1,827 (2023 - £1,625) were payable to the scheme at the end of the year and are included in creditors.

18

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

19

Dividends

 

2024
£

2023
£

Interim dividend

600,000

540,000

     

20

Commitments

Group

Commitments

The total amount contracted for but not provided in the financial statements was £537,704 (2023 - £507,277).

Company

Commitments

The total amount contracted for but not provided in the financial statements was £485,013 (2023 - £452,199).