REGISTERED NUMBER: |
GTA Laboratories Limited |
Financial Statements |
for the Year Ended 31 December 2023 |
REGISTERED NUMBER: |
GTA Laboratories Limited |
Financial Statements |
for the Year Ended 31 December 2023 |
GTA Laboratories Limited (Registered number: 10155257) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
GTA Laboratories Limited |
Company Information |
for the year ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and |
Statutory Auditor |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
GTA Laboratories Limited (Registered number: 10155257) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Capital redemption reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GTA Laboratories Limited (Registered number: 10155257) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
GTA Laboratories Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
Monetary amounts in these financial statements have been rounded to the nearest £1. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has net current liabilities of £90,965 (2022: £233,045 net current assets), following the purchase of own shares in the year. The subsidiaries are profitable and will repatriate funds as required for the company to meet its liabilities. The financial statements have therefore been prepared on a going concern basis. |
Preparation of consolidated financial statements |
The financial statements contain information about GTA Laboratories Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Investments in subsidiaries |
Fixed asset investments are stated at cost less provision for diminution in value. |
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. |
GTA Laboratories Limited (Registered number: 10155257) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Called up share capital not paid |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans |
Amounts owed to group undertakings |
Other creditors |
Directors' current accounts | 18,810 | 27,800 |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 4 | 6 |
On the 30th June 2023, 2 ordinary shares of £1 each were bought back by the company and immediately cancelled for a consideration of £423,738. |
GTA Laboratories Limited (Registered number: 10155257) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
9. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 January 2023 | 1,579,739 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Purchase of own shares | (423,738 | ) | 2 | (423,736 | ) |
At 31 December 2023 | 1,255,731 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
At the year end the company owed the directors £18,810 (2022: £27,800), interest has been charged at a commercial rate of interest totalling £1,881 in the year (2022: £2,224). |
12. | ULTIMATE CONTROLLING PARTY |
In the opinion of the directors the company is controlled by the directors who owned the entire share capital of the company throughout the period. |