7 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 463,569 128,811 592,380 592,380 463,569 xbrli:pure xbrli:shares iso4217:GBP 12588708 2023-01-01 2023-12-31 12588708 2023-12-31 12588708 2022-12-31 12588708 2022-01-01 2022-12-31 12588708 2022-12-31 12588708 2021-12-31 12588708 bus:Director5 2023-01-01 2023-12-31 12588708 core:WithinOneYear 2023-12-31 12588708 core:WithinOneYear 2022-12-31 12588708 core:AfterOneYear 2023-12-31 12588708 core:ShareCapital 2023-12-31 12588708 core:ShareCapital 2022-12-31 12588708 core:SharePremium 2023-12-31 12588708 core:SharePremium 2022-12-31 12588708 core:RetainedEarningsAccumulatedLosses 2023-12-31 12588708 core:RetainedEarningsAccumulatedLosses 2022-12-31 12588708 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 12588708 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 12588708 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 12588708 core:Non-currentFinancialInstruments 2023-12-31 12588708 core:Non-currentFinancialInstruments 2022-12-31 12588708 bus:SmallEntities 2023-01-01 2023-12-31 12588708 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12588708 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12588708 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12588708 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 12588708
GES Europe Limited
Filleted Unaudited Financial Statements
31 December 2023
GES Europe Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
GES Europe Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
592,380
463,569
Current assets
Stocks
86,699
Debtors
6
1,685,051
1,247,354
Cash at bank and in hand
169,569
108,298
------------
------------
1,941,319
1,355,652
Creditors: amounts falling due within one year
7
488,746
178,974
------------
------------
Net current assets
1,452,573
1,176,678
------------
------------
Total assets less current liabilities
2,044,953
1,640,247
Creditors: amounts falling due after more than one year
8
18,826
------------
------------
Net assets
2,026,127
1,640,247
------------
------------
Capital and reserves
Called up share capital
1,560
1,468
Share premium account
2,062,235
1,659,656
Profit and loss account
( 37,668)
( 20,877)
------------
------------
Shareholders funds
2,026,127
1,640,247
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GES Europe Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
F M Swan
Director
Company registration number: 12588708
GES Europe Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 49 The Ridgeway, London, NW11 8QP, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the investors.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 5 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2023
463,569
Additions
128,811
---------
At 31 December 2023
592,380
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
592,380
---------
At 31 December 2022
463,569
---------
6. Debtors
2023
2022
£
£
Trade debtors
548,506
290,043
Other debtors
1,136,545
957,311
------------
------------
1,685,051
1,247,354
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
321,292
177,526
Other creditors
167,454
1,448
---------
---------
488,746
178,974
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
18,826
--------
----
9. Related party transactions
At the year end the company owed £18,826 (2022: £Nil) to the directors.