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REGISTERED NUMBER: 14129839 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

GTi Business Systems Limited

GTi Business Systems Limited (Registered number: 14129839)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

GTi Business Systems Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: G R Thomas
Mrs LL Thomas





REGISTERED OFFICE: c/o Charnwood Accountants
The Point, Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ





REGISTERED NUMBER: 14129839 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

GTi Business Systems Limited (Registered number: 14129839)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,184 12,064

CURRENT ASSETS
Debtors 5 529,511 24,020
Cash at bank 45,412 45,109
574,923 69,129
CREDITORS
Amounts falling due within one year 6 638,986 157,348
NET CURRENT LIABILITIES (64,063 ) (88,219 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(54,879

)

(76,155

)

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (54,899 ) (76,175 )
SHAREHOLDERS' FUNDS (54,879 ) (76,155 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

GTi Business Systems Limited (Registered number: 14129839)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





G R Thomas - Director


GTi Business Systems Limited (Registered number: 14129839)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

GTi Business Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

GTi Business Systems Limited (Registered number: 14129839)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 June 2023
and 31 May 2024 14,399
AMORTISATION
At 1 June 2023 2,335
Amortisation for year 2,880
At 31 May 2024 5,215
NET BOOK VALUE
At 31 May 2024 9,184
At 31 May 2023 12,064

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 24,000
Other debtors 529,511 20
529,511 24,020

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 1,624 2,436
Taxation and social security 3,410 3,962
Other creditors 633,952 150,950
638,986 157,348

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 May 2024 and the period ended 31 May 2023:

31.5.24 31.5.23
£    £   
G R Thomas
Balance outstanding at start of year - -
Amounts advanced 7,584 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,584 -

GTi Business Systems Limited (Registered number: 14129839)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. GOING CONCERN

The financial statements have been prepared on a going concern basis, assuming the company will continue to trade. This assumption depends on the ability of the directors to maintain the necessary financial support.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
GTi Business Systems Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GTi Business Systems Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of GTi Business Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GTi Business Systems Limited and state those matters that we have agreed to state to the Board of Directors of GTi Business Systems Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that GTi Business Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GTi Business Systems Limited. You consider that GTi Business Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of GTi Business Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


19 August 2024