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REGISTERED NUMBER: 09162871 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GOCABLETIES LTD
T/A
GTSE

GOCABLETIES LTD (REGISTERED NUMBER: 09162871)
T/A GTSE

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


GOCABLETIES LTD (REGISTERED NUMBER: 09162871)
T/A GTSE

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 586,393 621,715
Tangible assets 5 75,878 91,355
Investments 6 100 -
662,371 713,070

CURRENT ASSETS
Stocks 824,428 1,543,520
Debtors 7 560,661 289,211
Cash at bank 507,111 326,024
1,892,200 2,158,755
CREDITORS
Amounts falling due within one year 8 1,026,955 1,108,643
NET CURRENT ASSETS 865,245 1,050,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,527,616

1,763,182

CREDITORS
Amounts falling due after more than one
year

9

(65,403

)

(80,062

)

PROVISIONS FOR LIABILITIES (41,526 ) -
NET ASSETS 1,420,687 1,683,120

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 11 450,000 500,000
Retained earnings 969,687 1,182,120
1,420,687 1,683,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GOCABLETIES LTD (REGISTERED NUMBER: 09162871)
T/A GTSE

BALANCE SHEET - continued
31 DECEMBER 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





F O Fisk Miller - Director


GOCABLETIES LTD (REGISTERED NUMBER: 09162871)
T/A GTSE

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


1. STATUTORY INFORMATION

Gocableties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09162871

Registered office: GTSE C/O Wework
Dalton Place
29 John Dalton Street
Manchester
M2 6DS

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.

Preparation of consolidated financial statements
The financial statements contain information about Gocableties Ltd 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.

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

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.

Where factors, such as technological advancement or changes in market price, indicate that residual value or useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to reflect the new circumstances.
The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired.

Patents and licences are being amortised evenly over their estimated useful life of 4 years.

Other intangibles are being amortised evenly over their estimated useful life of 10 years.

Computer software is being amortised evenly over its estimated useful life of 5 years.

GOCABLETIES LTD (REGISTERED NUMBER: 09162871)
T/A GTSE

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

GOCABLETIES LTD (REGISTERED NUMBER: 09162871)
T/A GTSE

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

GOCABLETIES LTD (REGISTERED NUMBER: 09162871)
T/A GTSE

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 656,226
Additions 52,002
Impairments (50,000 )
At 31 December 2023 658,228
AMORTISATION
At 1 January 2023 34,511
Charge for year 37,324
At 31 December 2023 71,835
NET BOOK VALUE
At 31 December 2023 586,393
At 31 December 2022 621,715

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 91,355 - 91,355
Additions - 3,408 3,408
At 31 December 2023 91,355 3,408 94,763
DEPRECIATION
Charge for year 18,271 614 18,885
At 31 December 2023 18,271 614 18,885
NET BOOK VALUE
At 31 December 2023 73,084 2,794 75,878
At 31 December 2022 91,355 - 91,355

GOCABLETIES LTD (REGISTERED NUMBER: 09162871)
T/A GTSE

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


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 91,355
DEPRECIATION
Charge for year 18,271
At 31 December 2023 18,271
NET BOOK VALUE
At 31 December 2023 73,084
At 31 December 2022 91,355

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 238,393 275,825
Other debtors 322,268 13,386
560,661 289,211

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 10) 11,410 -
Trade creditors 531,719 821,646
Amounts owed to group undertakings 100 -
Taxation and social security 110,678 133,893
Other creditors 373,048 153,104
1,026,955 1,108,643

GOCABLETIES LTD (REGISTERED NUMBER: 09162871)
T/A GTSE

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


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 10) 65,403 80,062

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 11,410 -
Between one and five years 65,403 80,062
76,813 80,062

Non-cancellable operating leases
2023 2022
£    £   
Within one year 64,684 -
Between one and five years 7,817 -
72,501 -

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023 500,000
Impairment (50,000 )

At 31 December 2023 450,000