1 April 2023 false No description of principal activity Taxfiler 2024.6 08445706business:PrivateLimitedCompanyLtd2023-04-012024-03-31 084457062023-03-31 084457062023-04-012024-03-31 08445706business:AuditExemptWithAccountantsReport2023-04-012024-03-31 08445706business:FilletedAccounts2023-04-012024-03-31 084457062024-03-31 08445706business:Director12023-04-012024-03-31 08445706business:Director22023-04-012024-03-31 08445706business:CompanySecretary12023-04-012024-03-31 08445706business:RegisteredOffice2023-04-012024-03-31 084457062023-03-31 08445706core:WithinOneYear2024-03-31 08445706core:WithinOneYear2023-03-31 08445706core:AfterOneYear2024-03-31 08445706core:AfterOneYear2023-03-31 08445706core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 08445706core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 08445706core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 08445706core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 08445706core:PreviouslyStatedAmount2024-03-31 08445706core:PreviouslyStatedAmount2023-03-31 08445706business:SmallEntities2023-04-012024-03-31 08445706countries:EnglandWales2023-04-012024-03-31 08445706core:FurnitureFittings2023-04-012024-03-31 08445706core:ComputerEquipment2023-04-012024-03-31 08445706core:ComputerEquipment2023-03-31 08445706core:ComputerEquipment2024-03-31 08445706core:AdditionsToInvestments2024-03-31 08445706core:BetweenOneFiveYears2024-03-31 08445706core:BetweenOneFiveYears2023-03-31 084457062022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 08445706 (England and Wales)
GSL Media Ltd Unaudited accounts for the year ended 31 March 2024
GSL Media Ltd Unaudited accounts Contents
Page
- 2 -
GSL Media Ltd Company Information for the year ended 31 March 2024
Directors
Mr B Grimes Mr G J Lilley
Secretary
Mr G J Lilley
Company Number
08445706 (England and Wales)
Registered Office
Brunel Court 122 Fore Street Saltash Cornwall PL12 6JW England
Accountants
Blackwell Bate Ltd Brunel Court 122 Fore Street Saltash Cornwall PL12 6JW
- 3 -
GSL Media Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,261 
3,446 
Investments
200 
100 
5,461 
3,546 
Current assets
Inventories
30,000 
30,000 
Debtors
47,092 
63,844 
Cash at bank and in hand
71,330 
104,246 
148,422 
198,090 
Creditors: amounts falling due within one year
(79,398)
(85,474)
Net current assets
69,024 
112,616 
Total assets less current liabilities
74,485 
116,162 
Creditors: amounts falling due after more than one year
(8,333)
(13,333)
Provisions for liabilities
Deferred tax
(1,315)
(861)
Net assets
64,837 
101,968 
Capital and reserves
Called up share capital
24 
24 
Profit and loss account
64,813 
101,944 
Shareholders' funds
64,837 
101,968 
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by
Mr G J Lilley Director Company Registration No. 08445706
- 4 -
GSL Media Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
GSL Media Ltd is a private company, limited by shares, registered in England and Wales, registration number 08445706. The registered office is Brunel Court, 122 Fore Street, Saltash, Cornwall, PL12 6JW, 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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:
Fixtures & fittings
33% reducing balance
Computer equipment
33% on cost
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
GSL Media Ltd Notes to the Accounts for the year ended 31 March 2024
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
11,036 
Additions
4,157 
At 31 March 2024
15,193 
Depreciation
At 1 April 2023
7,590 
Charge for the year
2,342 
At 31 March 2024
9,932 
Net book value
At 31 March 2024
5,261 
At 31 March 2023
3,446 
5
Investments
Other investments 
£ 
Valuation at 1 April 2023
100 
Additions
100 
Valuation at 31 March 2024
200 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
44,653 
57,500 
Other debtors
2,439 
6,344 
47,092 
63,844 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,000 
5,000 
Trade creditors
7,596 
2,957 
Amounts owed to group undertakings and other participating interests
12,100 
- 
Taxes and social security
26,449 
32,843 
Other creditors
28,253 
44,674 
79,398 
85,474 
- 6 -
GSL Media Ltd Notes to the Accounts for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
8,333 
13,333 
9
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
8,221 
- 
Later than one year and not later than five years
17,126 
- 
25,347 
- 
10
Average number of employees
During the year the average number of employees was 10 (2023: 9).
- 7 -