Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activityfalsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01false1311true 04414980 2023-01-01 2023-12-31 04414980 2022-01-01 2022-12-31 04414980 2023-12-31 04414980 2022-12-31 04414980 c:CompanySecretary1 2023-01-01 2023-12-31 04414980 c:Director1 2023-01-01 2023-12-31 04414980 c:Director2 2023-01-01 2023-12-31 04414980 c:RegisteredOffice 2023-01-01 2023-12-31 04414980 d:Buildings 2023-01-01 2023-12-31 04414980 d:Buildings 2023-12-31 04414980 d:Buildings 2022-12-31 04414980 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04414980 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 04414980 d:Buildings d:LongLeaseholdAssets 2023-12-31 04414980 d:Buildings d:LongLeaseholdAssets 2022-12-31 04414980 d:PlantMachinery 2023-01-01 2023-12-31 04414980 d:PlantMachinery 2023-12-31 04414980 d:PlantMachinery 2022-12-31 04414980 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04414980 d:FurnitureFittings 2023-01-01 2023-12-31 04414980 d:FurnitureFittings 2023-12-31 04414980 d:FurnitureFittings 2022-12-31 04414980 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04414980 d:ComputerEquipment 2023-01-01 2023-12-31 04414980 d:ComputerEquipment 2023-12-31 04414980 d:ComputerEquipment 2022-12-31 04414980 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04414980 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04414980 d:Goodwill 2023-01-01 2023-12-31 04414980 d:Goodwill 2023-12-31 04414980 d:Goodwill 2022-12-31 04414980 d:ComputerSoftware 2023-12-31 04414980 d:ComputerSoftware 2022-12-31 04414980 d:CurrentFinancialInstruments 2023-12-31 04414980 d:CurrentFinancialInstruments 2022-12-31 04414980 d:Non-currentFinancialInstruments 2023-12-31 04414980 d:Non-currentFinancialInstruments 2022-12-31 04414980 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04414980 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04414980 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04414980 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04414980 d:ShareCapital 2023-12-31 04414980 d:ShareCapital 2022-12-31 04414980 d:RevaluationReserve 2023-12-31 04414980 d:RevaluationReserve 2022-12-31 04414980 d:RetainedEarningsAccumulatedLosses 2023-12-31 04414980 d:RetainedEarningsAccumulatedLosses 2022-12-31 04414980 c:FRS102 2023-01-01 2023-12-31 04414980 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04414980 c:FullAccounts 2023-01-01 2023-12-31 04414980 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04414980 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 04414980 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 04414980 5 2023-01-01 2023-12-31 04414980 d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 04414980 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 04414980 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 04414980 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 04414980







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


GM8 GROUP LTD






































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GM8 GROUP LTD
 


 
COMPANY INFORMATION


Directors
Mr Haydon Robinson 
Mr Mark Robinson 




Company secretary
Mr Mark Robinson



Registered number
04414980



Registered office
Lynton House
7-12,Tavistock Square

London

WC1H 9LT




Trading Address
54 Wilbury Way

Hitchin

SG4 0TP






Accountants
Menzies LLP
Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


GM8 GROUP LTD
REGISTERED NUMBER:04414980



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
57,923
6,712

Tangible assets
 5 
1,800,734
1,849,492

  
1,858,657
1,856,204

Current assets
  

Stocks
  
161,245
141,725

Debtors: amounts falling due within one year
 6 
78,284
88,945

Cash at bank and in hand
  
24,301
142,133

  
263,830
372,803

Creditors: amounts falling due within one year
 7 
(1,321,730)
(1,204,700)

Net current liabilities
  
 
 
(1,057,900)
 
 
(831,897)

Total assets less current liabilities
  
800,757
1,024,307

Creditors: amounts falling due after more than one year
 8 
(439,337)
(457,220)

Provisions for liabilities
  

Deferred tax
  
(8,902)
(8,902)

  
 
 
(8,902)
 
 
(8,902)

Net assets
  
352,518
558,185


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
973,000
973,000

Profit and loss account
  
(620,582)
(414,915)

  
352,518
558,185


Page 1

 


GM8 GROUP LTD
REGISTERED NUMBER:04414980


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider 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 directors acknowledge their 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 income and retained earnings 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: 




Mr Mark Robinson
Director

Date: 6 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


GM8 GROUP LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

GM8 Group Limited is a company, limited by shares, incorporated in England and Wales with company registration number is 03656862. The registered office is Lynton House, 7-12,Tavistock Square, London, United Kingdom, WC1H 9LT and the principal place of business is 54 Wilbury Way, Hitchin, SG4 0TP.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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.

  
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is generated by online retail and manufacturing of susbtianable , environmentally-friendly productsand is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

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.

Page 3

 


GM8 GROUP LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over 20 years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
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 4

 


GM8 GROUP LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
on cost
Long-term leasehold property
-
20%
on cost
Plant and machinery
-
20%
reducing balance
Fixtures and fittings
-
20%
reducing balance
Computer equipment
-
20%
reducing balance

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

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 11).

Page 5

 


GM8 GROUP LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 January 2023
90,007
11,848
101,855


Additions
26,095
35,000
61,095



At 31 December 2023

116,102
46,848
162,950



Amortisation


At 1 January 2023
90,007
5,136
95,143


Charge for the year on owned assets
8,698
1,186
9,884



At 31 December 2023

98,705
6,322
105,027



Net book value



At 31 December 2023
17,397
40,526
57,923



At 31 December 2022
-
6,712
6,712



Page 6


GM8 GROUP LTD
  
 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023



5.


Tangible fixed assets






Freehold property
Long-term leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
1,890,000
7,395
195,800
11,529
450
2,105,174


Additions
-
-
4,990
4,551
707
10,248



At 31 December 2023

1,890,000
7,395
200,790
16,080
1,157
2,115,422



Depreciation


At 1 January 2023
132,267
4,437
109,889
9,006
83
255,682


Charge for the year on owned assets
37,800
1,479
16,762
2,781
184
59,006



At 31 December 2023

170,067
5,916
126,651
11,787
267
314,688



Net book value



At 31 December 2023
1,719,933
1,479
74,139
4,293
890
1,800,734



At 31 December 2022
1,757,733
2,958
85,911
2,523
367
1,849,492

Page 7

 


GM8 GROUP LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
49,998
73,502

Other debtors
13,140
2,996

Prepayments and accrued income
15,146
12,447

78,284
88,945



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
39,880
14,219

Trade creditors
149,788
158,928

Amounts owed to group undertakings
1,076,771
939,499

Other taxation and social security
29,809
56,249

Other creditors
19,982
27,608

Accruals and deferred income
5,500
8,197

1,321,730
1,204,700



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
439,337
457,220

439,337
457,220



9.


Transactions with directors

As at year end, within other creditors there is an amount of £nil (2022: £nil) owed to the directors. There is no interest charged on this amount.


10.


Related party transactions

As at year end, there is an amount of £1,076,771 (2022: £939,499) owed from companies under common control.

 
Page 8