Company Registration No. 13982361 (England and Wales)
GMA Grouping Ltd
Unaudited accounts
for the year ended 31 March 2024
GMA Grouping Ltd
Unaudited accounts
Contents
GMA Grouping Ltd
Company Information
for the year ended 31 March 2024
Directors
T Batt
G Altirs
G Altirs
Company Number
13982361 (England and Wales)
Registered Office
Eden Point Three Acres Lane
Cheadle Hulme
Cheadle
Greater Manchester
SK8 6RL
United Kingdom
Accountants
Deciphr Ltd
Unit 11 Holts Court
Threshers Bush
Harlow
Essex
CM17 0NS
GMA Grouping Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
230,346
265,958
Cash at bank and in hand
58,281
22,926
Creditors: amounts falling due within one year
(1,117,730)
(917,094)
Net current liabilities
(313,288)
(20,804)
Net (liabilities)/assets
(82,942)
245,154
Called up share capital
100
100
Profit and loss account
(83,042)
245,054
Shareholders' funds
(82,942)
245,154
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by
G Altirs
Director
Company Registration No. 13982361
GMA Grouping Ltd
Notes to the Accounts
for the year ended 31 March 2024
GMA Grouping Ltd is a private company, limited by shares, registered in England and Wales, registration number 13982361. The registered office is Eden Point Three Acres Lane, Cheadle Hulme, Cheadle, Greater Manchester, SK8 6RL, United Kingdom.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Land & buildings
10 years straight line
Plant & machinery
25% reducing balance
Fixtures & fittings
3 years straight line
Computer equipment
3 years straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
GMA Grouping Ltd
Notes to the Accounts
for the year ended 31 March 2024
The balance sheet at the end of the year recorded net liabilities. However, the directors believe that sufficient financial resources are available to the company to enable it to continue trading into the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.
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Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
274,885
6,180
15,384
5,507
301,956
At 31 March 2024
274,885
6,180
15,384
5,507
301,956
At 1 April 2023
27,489
1,545
5,128
1,836
35,998
Charge for the year
27,489
1,159
5,128
1,836
35,612
At 31 March 2024
54,978
2,704
10,256
3,672
71,610
At 31 March 2024
219,907
3,476
5,128
1,835
230,346
At 31 March 2023
247,396
4,635
10,256
3,671
265,958
Amounts falling due within one year
Trade debtors
431,809
6,530
Accrued income and prepayments
118,998
673,776
Other debtors
131,933
132,347
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
356,840
89,576
Taxes and social security
46,419
49,826
Other creditors
714,471
733,865
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Average number of employees
During the year the average number of employees was 25 (2023: 9).