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REGISTERED NUMBER: 08377020 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

GTM FINANCIAL LIMITED

GTM FINANCIAL LIMITED (REGISTERED NUMBER: 08377020)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GTM FINANCIAL LIMITED

Company Information
for the Year Ended 31 January 2024







DIRECTOR: G Morgan





SECRETARY: Mrs L V Morgan





REGISTERED OFFICE: 75 Cardiff Road
Llandaf
Cardiff
CF5 2AA





REGISTERED NUMBER: 08377020 (England and Wales)






GTM FINANCIAL LIMITED (REGISTERED NUMBER: 08377020)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,000 47,000
Tangible assets 5 78,686 43,681
Investments 6 590,637 112,637
696,323 203,318

CURRENT ASSETS
Debtors 7 20,442 81,406
Investments 8 - 878,000
Cash at bank 100,384 5,679
120,826 965,085
CREDITORS
Amounts falling due within one year 9 438,602 114,753
NET CURRENT (LIABILITIES)/ASSETS (317,776 ) 850,332
TOTAL ASSETS LESS CURRENT
LIABILITIES

378,547

1,053,650

CREDITORS
Amounts falling due after more than one year 10 10,200 273,338
NET ASSETS 368,347 780,312

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 368,344 780,309
SHAREHOLDERS' FUNDS 368,347 780,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GTM FINANCIAL LIMITED (REGISTERED NUMBER: 08377020)

Balance Sheet - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





G Morgan - Director


GTM FINANCIAL LIMITED (REGISTERED NUMBER: 08377020)

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


1. STATUTORY INFORMATION

GTM Financial Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

GTM FINANCIAL LIMITED (REGISTERED NUMBER: 08377020)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 152,000
AMORTISATION
At 1 February 2023 105,000
Charge for year 20,000
At 31 January 2024 125,000
NET BOOK VALUE
At 31 January 2024 27,000
At 31 January 2023 47,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 145,181
Additions 67,005
At 31 January 2024 212,186
DEPRECIATION
At 1 February 2023 101,500
Charge for year 32,000
At 31 January 2024 133,500
NET BOOK VALUE
At 31 January 2024 78,686
At 31 January 2023 43,681

6. FIXED ASSET INVESTMENTS

31.1.24 31.1.23
£    £   
Other investments not loans 478,000 -
Other loans 112,637 112,637
590,637 112,637

GTM FINANCIAL LIMITED (REGISTERED NUMBER: 08377020)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


6. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Other
investments
£   
COST
Additions 878,000
Disposals (400,000 )
At 31 January 2024 478,000
NET BOOK VALUE
At 31 January 2024 478,000
Other
loans
£   
At 1 February 2023
and 31 January 2024 112,637

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 20,442 81,406

8. CURRENT ASSET INVESTMENTS
31.1.24 31.1.23
£    £   
Unlisted investments - 878,000

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 20,833 30,000
Hire purchase contracts 17,400 18,900
Tax 16,897 23,853
Directors' current accounts 28,972 42,000
Accruals and deferred income 354,500 -
438,602 114,753

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 10,200 35,245
Accruals and deferred income - 238,093
10,200 273,338