Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11916397 2023-04-01 2024-03-31 11916397 2022-04-01 2023-03-31 11916397 2024-03-31 11916397 2023-03-31 11916397 c:Director3 2023-04-01 2024-03-31 11916397 d:MotorVehicles 2023-04-01 2024-03-31 11916397 d:OfficeEquipment 2023-04-01 2024-03-31 11916397 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11916397 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11916397 d:ShareCapital 2024-03-31 11916397 d:ShareCapital 2023-03-31 11916397 d:OtherMiscellaneousReserve 2024-03-31 11916397 d:OtherMiscellaneousReserve 2023-03-31 11916397 d:RetainedEarningsAccumulatedLosses 2024-03-31 11916397 d:RetainedEarningsAccumulatedLosses 2023-03-31 11916397 c:OrdinaryShareClass1 2023-04-01 2024-03-31 11916397 c:OrdinaryShareClass1 2024-03-31 11916397 c:OrdinaryShareClass1 2023-03-31 11916397 c:OrdinaryShareClass2 2023-04-01 2024-03-31 11916397 c:OrdinaryShareClass2 2024-03-31 11916397 c:OrdinaryShareClass2 2023-03-31 11916397 c:OrdinaryShareClass3 2023-04-01 2024-03-31 11916397 c:OrdinaryShareClass3 2024-03-31 11916397 c:OrdinaryShareClass3 2023-03-31 11916397 c:OrdinaryShareClass4 2023-04-01 2024-03-31 11916397 c:OrdinaryShareClass4 2024-03-31 11916397 c:OrdinaryShareClass4 2023-03-31 11916397 c:FRS102 2023-04-01 2024-03-31 11916397 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11916397 c:FullAccounts 2023-04-01 2024-03-31 11916397 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11916397 2 2023-04-01 2024-03-31 11916397 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11916397









GCN CAPITAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
GCN CAPITAL LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GCN CAPITAL LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GCN Capital Limited for the year ended 31 March 2024 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotlandwe are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas -framework-preparation -of-accounts.

This report is made solely to the director of GCN Capital Limited in accordance with the terms of our engagement letter dated 16 May 2019Our work has been undertaken solely to prepare for your approval the financial statements of GCN Capital Limited and state those matters that we have agreed to state to the director of GCN Capital Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://icas.com/icas -framework-preparation -of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GCN Capital Limited and its director for our work or for this report. 

It is your duty to ensure that GCN Capital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GCN Capital Limited. You consider that GCN Capital Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of GCN Capital Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  


Wilson Partners Limited
Chartered Accountants
Windsor House
Station Court
Station Road
Great Shelford
Cambridge
CB22 5NE
5 September 2024
Page 1

 
GCN CAPITAL LIMITED
REGISTERED NUMBER: 11916397

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
1,886
91,325

  
1,886
91,325

Current assets
  

Debtors
  
1,232,123
26,195

Current asset investments
  
-
90,683

Cash at bank and in hand
  
736,952
417,473

  
1,969,075
534,351

Creditors: amounts falling due within one year
  
(647,743)
(167,130)

Net current assets
  
 
 
1,321,332
 
 
367,221

Total assets less current liabilities
  
1,323,218
458,546

  

Net assets
  
1,323,218
458,546


Capital and reserves
  

Called up share capital 
 3 
364
364

Other reserves
  
458,180
620,523

Profit and loss account
  
864,674
(162,341)

  
1,323,218
458,546


Page 2

 
GCN CAPITAL LIMITED
REGISTERED NUMBER: 11916397
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Francis Charles Alexander Gordon-Clark
Director

Date: 5 September 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
GCN CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

GCN Capital Limited ("the Company") is a private limited company, limited by shares, incorporated in  England and Wales. The Address of the registered office is C/O Bcs Windsor House, Station Court, Station Road, Great Shelford, Cambridge, CB22 5NE. The company's registration number is 11916397.
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
GCN CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
GCN CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
10%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
GCN CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



35 (2023 - 35) Ordinary A shares of £1.00 each
35
35
21 (2023 - 21) Ordinary B shares of £1.00 each
21
21
154 (2023 - 154) Ordinary C shares of £1.00 each
154
154
154 (2022 -154) Ordinary D shares of £1.00 each
154
154

364

364



4.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £Nil (2023 - £80,000). 

 
Page 7