Company registration number 11412268 (England and Wales)
GT1850 Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
GT1850 Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
GT1850 Ltd
Statement Of Financial Position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
169,539
169,539
Current assets
Debtors
4
48,800
60,000
Cash at bank and in hand
14,544
9,952
63,344
69,952
Creditors: amounts falling due within one year
5
(58,455)
(109,141)
Net current assets/(liabilities)
4,889
(39,189)
Net assets
174,428
130,350
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
174,328
130,250
Total equity
174,428
130,350
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 3 July 2024 and are signed on its behalf by:
Mr Simon Denny
Director
Company registration number 11412268 (England and Wales)
GT1850 Ltd
Notes to the financial statements
for the year ended 31 March 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised on the provision of services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
No depreciation
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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
GT1850 Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 3 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 and 31 March 2024
169,539
Depreciation and impairment
At 1 April 2023 and 31 March 2024
Carrying amount
At 31 March 2024
169,539
At 31 March 2023
169,539
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
48,800
60,000
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
10,790
14,391
Other creditors
47,665
94,750
58,455
109,141
6
Company information
GT1850 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Calderdale Business Park, Main Reception, Club Lane, Halifax, West Yorkshire, HX2 8DB.