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Company Registration No. 11202975 (England and Wales)
GC Digital Ltd Unaudited accounts for the year ended 29 February 2024
GC Digital Ltd Unaudited accounts Contents
Page
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GC Digital Ltd Company Information for the year ended 29 February 2024
Director
Mr Richard Conduit
Company Number
11202975 (England and Wales)
Registered Office
2 King Street Nottingham NG1 2AS England
Accountants
Grace Heathfield + Co Ltd 13 Forest Close Cotgrave Nottinghamshire NG12 3JN
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GC Digital Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
8,538 
8,386 
Tangible assets
15,324 
19,394 
23,862 
27,780 
Current assets
Debtors
148,697 
102,518 
Cash at bank and in hand
10,367 
11,906 
159,064 
114,424 
Creditors: amounts falling due within one year
(106,223)
(93,019)
Net current assets
52,841 
21,405 
Total assets less current liabilities
76,703 
49,185 
Creditors: amounts falling due after more than one year
(71,454)
(33,982)
Provisions for liabilities
Deferred tax
(3,831)
(5,279)
Net assets
1,418 
9,924 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,318 
9,824 
Shareholders' funds
1,418 
9,924 
For the year ending 29 February 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 director acknowledges his 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 and authorised for issue on 26 September 2024 and were signed on its behalf by
Mr Richard Conduit Director Company Registration No. 11202975
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GC Digital Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
GC Digital Ltd is a private company, limited by shares, registered in England and Wales, registration number 11202975. The registered office is 2 King Street, Nottingham, NG1 2AS, England.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
20% RB
Plant & machinery
20% RB
Computer equipment
20% RB
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Depreciation is not recognised in relation to Other Intangible Assets. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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GC Digital Ltd Notes to the Accounts for the year ended 29 February 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 March 2023
8,386 
Additions
1,144 
Disposals
(992)
At 29 February 2024
8,538 
Amortisation
At 1 March 2023
- 
At 29 February 2024
- 
Net book value
At 29 February 2024
8,538 
At 28 February 2023
8,386 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
275 
728 
30,117 
31,120 
Additions
- 
- 
281 
281 
Disposals
- 
(728)
- 
(728)
At 29 February 2024
275 
- 
30,398 
30,673 
Depreciation
At 1 March 2023
99 
208 
11,419 
11,726 
Charge for the year
35 
- 
3,796 
3,831 
On disposals
- 
(208)
- 
(208)
At 29 February 2024
134 
- 
15,215 
15,349 
Net book value
At 29 February 2024
141 
- 
15,183 
15,324 
At 28 February 2023
176 
520 
18,698 
19,394 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
7,024 
7,569 
Accrued income and prepayments
505 
2,742 
Other debtors
141,168 
92,207 
148,697 
102,518 
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GC Digital Ltd Notes to the Accounts for the year ended 29 February 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
15,651 
9,900 
VAT
2,366 
6,410 
Trade creditors
13,942 
5,249 
Taxes and social security
63,471 
52,278 
Other creditors
7,694 
17,817 
Accruals
3,099 
1,365 
106,223 
93,019 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
71,454 
33,982 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Credit facility - no terms or interest rates stipulated
77,593 
152,921 
104,720 
125,794 
77,593 
152,921 
104,720 
125,794 
10
Average number of employees
During the year the average number of employees was 4 (2023: 3).
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