PTP Accounts Production v24.3.0.553 02302371 Board of Directors 29.2.24 1.3.23 29.2.24 29.2.24 a holding company. The principal activities of its subsidiary companies continued to be the design, development and sale of software applications, together with the provision of construction design and detailing services. true true true false true true false false false false true false 'A' Ordinary 0 'B' Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh023023712023-02-28023023712024-02-29023023712023-03-012024-02-29023023712022-02-28023023712022-03-012023-02-28023023712023-02-2802302371ns15:EnglandWales2023-03-012024-02-2902302371ns14:PoundSterling2023-03-012024-02-2902302371ns10:Director12023-03-012024-02-2902302371ns10:Consolidated2024-02-2902302371ns10:ConsolidatedGroupCompanyAccounts2023-03-012024-02-2902302371ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2902302371ns10:Consolidatedns10:FRS1022023-03-012024-02-2902302371ns10:Consolidatedns10:Audited2023-03-012024-02-2902302371ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-03-012024-02-2902302371ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-03-012024-02-2902302371ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-03-012024-02-2902302371ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Consolidated2023-03-012024-02-2902302371ns10:FullAccounts2023-03-012024-02-2902302371ns5:Subsidiary12023-03-012024-02-290230237112023-03-012024-02-2902302371ns10:OrdinaryShareClass12023-03-012024-02-2902302371ns10:OrdinaryShareClass22023-03-012024-02-2902302371ns10:Director22023-03-012024-02-2902302371ns10:CompanySecretary12023-03-012024-02-2902302371ns10:RegisteredOffice2023-03-012024-02-2902302371ns10:Consolidated2023-03-012024-02-2902302371ns10:Consolidated2022-03-012023-02-2802302371ns5:CurrentFinancialInstruments2024-02-2902302371ns5:CurrentFinancialInstruments2023-02-2802302371ns5:ShareCapital2024-02-2902302371ns5:ShareCapital2023-02-2802302371ns5:CapitalRedemptionReserve2024-02-2902302371ns5:CapitalRedemptionReserve2023-02-2802302371ns5:RetainedEarningsAccumulatedLosses2024-02-2902302371ns5:RetainedEarningsAccumulatedLosses2023-02-2802302371ns5:ShareCapital2022-02-2802302371ns5:RetainedEarningsAccumulatedLosses2022-02-2802302371ns5:CapitalRedemptionReserve2022-02-2802302371ns5:ShareCapital2022-03-012023-02-2802302371ns5:RetainedEarningsAccumulatedLosses2022-03-012023-02-2802302371ns5:CapitalRedemptionReserve2022-03-012023-02-2802302371ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-2902302371ns5:CapitalRedemptionReserve2023-03-012024-02-2902302371ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2902302371ns5:ComputerSoftware2023-03-012024-02-2902302371ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-03-012024-02-2902302371ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-012024-02-2902302371ns5:FurnitureFittings2023-03-012024-02-2902302371ns5:MotorVehicles2023-03-012024-02-2902302371ns5:ComputerEquipment2023-03-012024-02-2902302371ns5:LandBuildings2023-02-2802302371ns5:FurnitureFittings2023-02-2802302371ns5:ComputerEquipment2023-02-2802302371ns5:LandBuildings2023-03-012024-02-2902302371ns5:LandBuildings2024-02-2902302371ns5:FurnitureFittings2024-02-2902302371ns5:ComputerEquipment2024-02-2902302371ns5:LandBuildings2023-02-2802302371ns5:FurnitureFittings2023-02-2802302371ns5:ComputerEquipment2023-02-2802302371ns5:CostValuation2023-02-2802302371ns5:Subsidiary112023-03-012024-02-2902302371ns5:Subsidiary12024-02-2902302371ns5:Subsidiary12023-02-2802302371ns5:Subsidiary12022-03-012023-02-2802302371ns10:OrdinaryShareClass12024-02-2902302371ns10:OrdinaryShareClass22024-02-2902302371ns5:RetainedEarningsAccumulatedLosses2023-02-2802302371ns5:CapitalRedemptionReserve2023-02-28
REGISTERED NUMBER: 02302371 (England and Wales)















Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements for the Year Ended 29th February 2024

for

GAINPEAK LIMITED

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Contents of the Consolidated Financial Statements
for the Year Ended 29th February 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


GAINPEAK LIMITED

Company Information
for the Year Ended 29th February 2024







DIRECTORS: J W P Fryett
I L Chambers


SECRETARY: J W P Fryett


REGISTERED OFFICE: Arrowsmith Court
10 Station Approach
Broadstone
Dorset
BH18 8AX


REGISTERED NUMBER: 02302371 (England and Wales)


SENIOR STATUTORY AUDITOR: Simon Ellingham BA FCA DChA


AUDITORS: Fawcetts LLP
Windover House
St Ann Street
Salisbury
Wiltshire
SP1 2DR


BANKERS: Barclays
1 Churchill Place
Canary Wharf
London
E14 5HP

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Group Strategic Report
for the Year Ended 29th February 2024


The directors present their strategic report of the company and the group for the year ended 29th February 2024.

REVIEW OF BUSINESS
During the year to February 2024 the group achieved a modest increase in turnover but due to upward pressures on salaries, notably from the "cost of living crisis" in the UK as well as inflationary pressures in India, the Directors prioritised staff remuneration and retention. This led to a modest overall loss for the year which the Group was able to cover from brought forward reserves.

Due to the recession in the UK at the end of the financial year the Services division struggled to generate sufficient turnover in the early part of 2024, although activity has improved in the first quarter of the 24/25 financial year. With the software market moving more towards subscriptions sales, both in the UK and in India, the Group has adjusted it's software offering and strategy accordingly and software sales continue to exceed expectations, particularly in India after the recent changes in the leadership of the Indian subsidiary.

PRINCIPAL RISKS AND UNCERTAINTIES
The recent recession in the UK has illustrated the risks inherent in the construction sector with the cancellation of large infrastructure projects. Despite this the Group has maintained a similar level of turnover. Nevertheless, the main costs continue to be salary related and the Directors are committed to assisting all employees in combatting any reduction in the real level of wages caused by inflationary pressures. The Directors believe that the retention of key staff will enable the Group to reap benefits over the longer term.

With the increase in "home working" particularly in India, CADS is committed to retaining flexibility over working arrangements. However, a greater return to the office by staff has generally ensured a higher quality of work than most competitors and continues to give the business an advantage, particularly where the competition is based solely on price.

FINANCIAL INSTRUMENTS
The Group's policy over the last number of years has been to maintain a very low level of external borrowings which, during a period of higher interest rates, has served the business well. Currently the Directors have no plans to change this policy and as a result the business has benefitted accordingly. The Group's budgets and business plans indicate that it has sufficient cash reserves available to meet any anticipated finance requirements in the medium term.

RESEARCH AND DEVELOPMENT
The Group continues to invest significant amounts in the ongoing development of its software and it is committed to maintaining its position as one of the leading providers of software to the UK scaffolding and reinforced concrete sectors.

The business is currently in the process of making its software available on a subscription basis as well as a continued focus on the provision of 3D solutions which are increasingly in demand. The Directors remain committed to building a team with the necessary expertise to fulfil these requirements as well as prioritising the longer term stability of the Group and providing ongoing benefits to its employees both in the UK and in India.

ON BEHALF OF THE BOARD:





J W P Fryett - Director


25th November 2024

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Report of the Directors
for the Year Ended 29th February 2024


The directors present their report with the financial statements of the company and the group for the year ended 29th February 2024.

DIVIDENDS
No dividends will be distributed for the year ended 29th February 2024.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st March 2023 to the date of this report.

J W P Fryett
I L Chambers

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Fawcetts LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J W P Fryett - Director


25th November 2024

Report of the Independent Auditors to the Members of
Gainpeak Limited


Opinion
We have audited the financial statements of Gainpeak Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 29th February 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 29th February 2024 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Gainpeak Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Gainpeak Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations we consider the following:
• the nature of the industry and sector, control environment and business performance;
• results of our enquiries of management about their own identification and assessment of the risks of
irregularities;
• any matters we identified having obtained and reviewed the company's documentation of their policies and
procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations

• the matters discussed among the audit engagement team regarding how and where fraud might occur in the
financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following area: revenue and profit recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

Audit response to risks identified
As a result of performing the above, we identified revenue and profit recognition a key audit matter related to the potential risk of fraud. Our procedures to respond to risks identified included the following:
• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance
with provisions of relevant laws and regulations described as having a direct effect on the financial
statements;
• enquiring of management concerning actual and potential litigation and claims;
• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks
of material misstatement due to fraud;
• in addressing the risk of fraud through management override of controls, testing the appropriateness of
journal entries and other adjustments; assessing whether the judgements made in making accounting
estimates are indicative of a potential bias; and evaluating the business rationale of any significant
transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Gainpeak Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Simon Ellingham BA FCA DChA (Senior Statutory Auditor)
for and on behalf of Fawcetts LLP
Windover House
St Ann Street
Salisbury
Wiltshire
SP1 2DR

26th November 2024

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Consolidated
Income Statement
for the Year Ended 29th February 2024

2024 2023
Notes £    £   

TURNOVER 3 8,917,655 8,704,905

Cost of sales 333,293 219,778
GROSS PROFIT 8,584,362 8,485,127

Administrative expenses 8,888,545 8,406,908
(304,183 ) 78,219

Other operating income 48,312 54,886
OPERATING (LOSS)/PROFIT 5 (255,871 ) 133,105

Interest receivable and similar income 141,755 28,189
(114,116 ) 161,294

Interest payable and similar expenses 6 5,369 601
(LOSS)/PROFIT BEFORE TAXATION (119,485 ) 160,693

Tax on (loss)/profit 7 (33,197 ) (61,802 )
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(86,288

)

222,495
(Loss)/profit attributable to:
Owners of the parent (34,801 ) 296,078
Non-controlling interests (51,487 ) (73,583 )
(86,288 ) 222,495

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Consolidated
Other Comprehensive Income
for the Year Ended 29th February 2024

2024 2023
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (86,288 ) 222,495


OTHER COMPREHENSIVE INCOME
Exchange movements (10,540 ) 70,356
Purchase of own shares - (320,000 )
Income tax relating to components of
other comprehensive income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(10,540

)

(249,644

)
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(96,828

)

(27,149

)

Total comprehensive income attributable to:
Owners of the parent (45,341 ) 46,434
Non-controlling interests (51,487 ) (73,583 )
(96,828 ) (27,149 )

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Consolidated Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 16,233 51,111
Tangible assets 10 448,693 559,642
Investments 11 - -
464,926 610,753

CURRENT ASSETS
Debtors 12 3,806,447 3,280,383
Cash at bank and in hand 3,055,005 3,636,830
6,861,452 6,917,213
CREDITORS
Amounts falling due within one year 13 3,218,154 3,326,159
NET CURRENT ASSETS 3,643,298 3,591,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,108,224

4,201,807

PROVISIONS FOR LIABILITIES 16 161,421 158,176
NET ASSETS 3,946,803 4,043,631

CAPITAL AND RESERVES
Called up share capital 17 80 80
Capital redemption reserve 18 20 20
Retained earnings 18 3,493,242 3,538,583
SHAREHOLDERS' FUNDS 3,493,342 3,538,683

NON-CONTROLLING INTERESTS 19 453,461 504,948
TOTAL EQUITY 3,946,803 4,043,631

The financial statements were approved by the Board of Directors and authorised for issue on 25th November 2024 and were signed on its behalf by:





J W P Fryett - Director


GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Company Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 120,433 128,354
Investments 11 100 100
120,533 128,454

CURRENT ASSETS
Cash at bank 1,051,899 1,003,397

CREDITORS
Amounts falling due within one year 13 323,089 423,064
NET CURRENT ASSETS 728,810 580,333
TOTAL ASSETS LESS CURRENT
LIABILITIES

849,343

708,787

CAPITAL AND RESERVES
Called up share capital 17 80 80
Capital redemption reserve 18 20 20
Retained earnings 18 849,243 708,687
SHAREHOLDERS' FUNDS 849,343 708,787

Company's profit for the financial year 140,556 77,009

The financial statements were approved by the Board of Directors and authorised for issue on 25th November 2024 and were signed on its behalf by:





J W P Fryett - Director


GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Consolidated Statement of Changes in Equity
for the Year Ended 29th February 2024

Called up Capital
share Retained redemption
capital earnings reserve
£    £    £   
Balance at 1st March 2022 100 3,492,169 -

Changes in equity
Issue of share capital (20 ) - -
Total comprehensive income - 46,414 20
Balance at 28th February 2023 80 3,538,583 20

Changes in equity
Total comprehensive income - (45,341 ) -
Balance at 29th February 2024 80 3,493,242 20
Non-controlling Total
Total interests equity
£    £    £   
Balance at 1st March 2022 3,492,269 578,531 4,070,800

Changes in equity
Issue of share capital (20 ) - (20 )
Total comprehensive income 46,434 (73,583 ) (27,149 )
Balance at 28th February 2023 3,538,683 504,948 4,043,631

Changes in equity
Total comprehensive income (45,341 ) (51,487 ) (96,828 )
Balance at 29th February 2024 3,493,342 453,461 3,946,803

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Company Statement of Changes in Equity
for the Year Ended 29th February 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1st March 2022 100 951,678 - 951,778

Changes in equity
Issue of share capital (20 ) - - (20 )
Total comprehensive income - (242,991 ) 20 (242,971 )
Balance at 28th February 2023 80 708,687 20 708,787

Changes in equity
Total comprehensive income - 140,556 - 140,556
Balance at 29th February 2024 80 849,243 20 849,343

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Consolidated Cash Flow Statement
for the Year Ended 29th February 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (293,524 ) (212,566 )
Interest paid (5,369 ) (42 )
Interest element of hire purchase or
finance lease rental payments paid

-

(559

)
Tax paid 30,148 (190,947 )
Net cash from operating activities (268,745 ) (404,114 )

Cash flows from investing activities
Purchase of intangible fixed assets - (13,073 )
Purchase of tangible fixed assets (44,701 ) (44,544 )
Sale of tangible fixed assets 55,879 (229 )
Interest received 141,755 28,189
Net cash from investing activities 152,933 (29,657 )

Cash flows from financing activities
New loans in year - 89,790
Loan repayments in year - (31,949 )
Capital repayments in year - (19,528 )
Amount withdrawn by directors (304,204 ) -
Share issue - (20 )
Share buyback - (319,980 )
Advance payments (161,809 ) 331,884
Net cash from financing activities (466,013 ) 50,197

Decrease in cash and cash equivalents (581,825 ) (383,574 )
Cash and cash equivalents at
beginning of year

2

3,636,830

4,020,404

Cash and cash equivalents at end of
year

2

3,055,005

3,636,830

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 29th February 2024


1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
(Loss)/profit before taxation (119,485 ) 160,693
Depreciation charges 122,954 133,242
Loss on disposal of fixed assets 11,695 665
Exchange movements (10,540 ) 70,356
Finance costs 5,369 601
Finance income (141,755 ) (28,189 )
(131,762 ) 337,368
Increase in trade and other debtors (256,107 ) (523,984 )
Increase/(decrease) in trade and other creditors 94,345 (25,950 )
Cash generated from operations (293,524 ) (212,566 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29th February 2024
29.2.24 1.3.23
£    £   
Cash and cash equivalents 3,055,005 3,636,830
Year ended 28th February 2023
28.2.23 1.3.22
£    £   
Cash and cash equivalents 3,636,830 4,020,404


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.23 Cash flow At 29.2.24
£    £    £   
Net cash
Cash at bank and in hand 3,636,830 (581,825 ) 3,055,005
3,636,830 (581,825 ) 3,055,005
Debt
Debts falling due within 1 year (80,000 ) 20,000 (60,000 )
(80,000 ) 20,000 (60,000 )
Total 3,556,830 (561,825 ) 2,995,005

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements
for the Year Ended 29th February 2024


1. STATUTORY INFORMATION

Gainpeak 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 General Information page.

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 the Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements are presented in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Where services such as maintenance contracts are supplied in a period following the year end the relevant invoiced amount is treated as maintenance in advance.

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 three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - 4% on cost and Evenly over the remaining lease period
Fixtures and fittings - 20% on reducing balance and Straight line over 10 years
Motor vehicles - 25% on cost and Straight line over 8 years
Computer equipment - 33% on reducing balance, Straight line over 5 years and Straight line over 10 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024


2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 6,191,098 5,907,891
Europe 443,625 396,152
Rest of the World 2,282,932 2,400,862
8,917,655 8,704,905

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024


4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,481,246 4,979,659
Social security costs 327,976 308,414
Other pension costs 148,636 102,395
5,957,858 5,390,468

The average number of employees during the year was as follows:
2024 2023

Sales and development 91 87
Services and support 329 282
Office and management 38 38
458 407

The average number of employees by undertakings that were proportionately consolidated during the year was 458 (2023 - 407 ) .

2024 2023
£    £   
Directors' remuneration 269,484 405,778
Directors' pension contributions to money purchase schemes 54,667 24,335

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 183,333 302,733
Pension contributions to money purchase schemes 14,667 24,335

5. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 5,016 7,918
Other operating leases 265,860 263,574
Depreciation - owned assets 88,076 131,565
Loss on disposal of fixed assets 11,695 665
Computer software amortisation 34,878 1,677
Audit fees 13,000 12,500
Foreign exchange differences 66,623 175,628

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024


6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Other Interest 5,369 42
Hire purchase - 559
5,369 601

7. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax (18,750 ) 56,051

Deferred tax (14,447 ) (117,853 )
Tax on (loss)/profit (33,197 ) (61,802 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
(Loss)/profit before tax (119,485 ) 160,693
(Loss)/profit multiplied by the standard rate of corporation tax in the
UK of 19 % (2023 - 19 %)

(22,702

)

30,532

Effects of:
Expenses not deductible for tax purposes 7 (1,116 )
Capital allowances in excess of depreciation (730 ) (34,043 )
Exchange movements (3,895 ) (13,378 )
Effect of tax rates for foreign group companies 4,362 (10,592 )
Deferred tax - other timing differences (11,287 ) (5,864 )
Losses carried forward 1,048 (27,341 )
Total tax credit (33,197 ) (61,802 )

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Exchange movements (10,540 ) - (10,540 )
Purchase of own shares
(10,540 ) - (10,540 )


GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024


7. TAXATION - continued
2023
Gross Tax Net
£    £    £   
Exchange movements 70,356 - 70,356
Purchase of own shares (320,000 ) - (320,000 )
(249,644 ) - (249,644 )

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. INTANGIBLE FIXED ASSETS

Group
Computer
software
£   
COST
At 1st March 2023
and 29th February 2024 528,876
AMORTISATION
At 1st March 2023 477,765
Amortisation for year 34,878
At 29th February 2024 512,643
NET BOOK VALUE
At 29th February 2024 16,233
At 28th February 2023 51,111

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024


10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Short and
property leasehold fittings
£    £    £   
COST
At 1st March 2023 214,079 21,615 230,869
Additions - - -
Disposals - - -
At 29th February 2024 214,079 21,615 230,869
DEPRECIATION
At 1st March 2023 93,721 21,615 195,650
Charge for year 2,796 - 16,224
Eliminated on disposal - - -
At 29th February 2024 96,517 21,615 211,874
NET BOOK VALUE
At 29th February 2024 117,562 - 18,995
At 28th February 2023 120,358 - 35,219

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st March 2023 224,975 1,654,104 2,345,642
Additions 24,995 19,706 44,701
Disposals (93,271 ) (139,453 ) (232,724 )
At 29th February 2024 156,699 1,534,357 2,157,619
DEPRECIATION
At 1st March 2023 134,116 1,340,898 1,786,000
Charge for year 14,429 54,627 88,076
Eliminated on disposal (47,680 ) (117,470 ) (165,150 )
At 29th February 2024 100,865 1,278,055 1,708,926
NET BOOK VALUE
At 29th February 2024 55,834 256,302 448,693
At 28th February 2023 90,859 313,206 559,642

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024


10. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st March 2023
and 29th February 2024 214,079 88,019 227,879 529,977
DEPRECIATION
At 1st March 2023 93,721 87,367 220,535 401,623
Charge for year 2,796 228 4,897 7,921
At 29th February 2024 96,517 87,595 225,432 409,544
NET BOOK VALUE
At 29th February 2024 117,562 424 2,447 120,433
At 28th February 2023 120,358 652 7,344 128,354

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st March 2023
and 29th February 2024 100
NET BOOK VALUE
At 29th February 2024 100
At 28th February 2023 100

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Computer and Design Services Limited
Registered office: England & Wales
Nature of business: Suppliers of software and construction services
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 2,210,489 2,352,409
(Loss)/profit for the year (141,920 ) 225,245


GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024


11. FIXED ASSET INVESTMENTS - continued


The Group also held a 51% interest in the Ordinary share capital of CADS Software India Private Limited, suppliers of software and construction services registered in India. As required under company law in India, CADS Software India Private Limited prepares financial statements to 31st March each year. The financial statements for the years ended 31st March 2023 and 2024 have been subject to statutory audit in India.

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 2,597,951 2,307,789
Other debtors 328,261 382,664
Directors' current accounts 304,204 -
Tax 125,002 167,624
Deferred tax asset 140,673 132,298
Prepayments 310,356 290,008
3,806,447 3,280,383

Deferred tax asset
Group
2024 2023
£    £   
Accelerated capital allowances 9,589 12,501
Tax losses carried forward 90,600 80,127
Other timing differences 40,484 39,670
140,673 132,298

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 14) 60,000 80,000 - -
Advance payments 1,634,751 1,796,560 - -
Trade creditors 340,939 266,025 - -
Amounts owed to group undertakings - - 323,089 402,523
Tax - 20,541 - 20,541
Social security and other taxes 81,284 74,319 - -
VAT 127,007 64,210 - -
Other creditors 424,996 395,877 - -
Accruals and deferred income 549,177 628,627 - -
3,218,154 3,326,159 323,089 423,064

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024


14. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 60,000 80,000

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year - 18,834
Between one and five years 574,564 267,531
In more than five years - 266,667
574,564 553,032

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Other provisions 161,421 158,176

Aggregate amounts 161,421 158,176

Group
Deferred
tax Gratuities
£    £   
Balance at 1st March 2023 (132,298 ) 158,176
Provided during year (8,375 ) 3,245
Balance at 29th February 2024 (140,673 ) 161,421

The provision for Gratuities relates to amounts payable by CADS Software India Private Limited (CSI), under the Payment of Gratuity Act 1972, to employees and former employees in respect of their service to CSI. Such amounts are payable upon leaving the company and are allowable as a tax deduction in computing the Company's profit when paid.

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024


17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
60 'A' Ordinary £1 60 60
20 'B' Ordinary £1 20 20
80 80

On 4th November 2022 the company purchased 20 £1 Ordinary Shares for a consideration of £320,000.

18. RESERVES

Group
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st March 2023 3,538,583 20 3,538,603
Deficit for the year (34,801 ) (34,801 )
Exchange movements (10,540 ) - (10,540 )
At 29th February 2024 3,493,242 20 3,493,262

Company
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st March 2023 708,687 20 708,707
Profit for the year 140,556 140,556
At 29th February 2024 849,243 20 849,263


19. NON-CONTROLLING INTERESTS

The Minority Interests consist of a 49% equity interest in the shares of CADS Software India Private Limited

GAINPEAK LIMITED (REGISTERED NUMBER: 02302371)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024


20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29th February 2024 and 28th February 2023:

2024 2023
£    £   
I L Chambers
Balance outstanding at start of year - -
Amounts advanced 304,204 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 304,204 -

Interest is charged at a rate of 2.25% per annum.

21. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence
2024 2023
£    £   
Sales of software 663,821 706,551
Software development and other services purchased 3,231,572 3,257,692
Amount due from related party 376,476 169,717

Key management personnel of the entity or its parent (in the aggregate)
2024 2023
£    £   
Sales 1,724,827 1,146,679
Purchases 1,162,821 784,577
Consultancy and other services 134,760 184,721
Key management personnel compensation 252,209 354,302
Amount due from related parties 617,746 471,454
Amount due to related parties 642,441 376,110
Provisions for uncollectible receivables relating to amount of
outstanding balances

16,833

-

The key management personnel are considered to be the directors of Gainpeak Ltd.

22. POST BALANCE SHEET EVENTS

On 24th October 2024 the Company purchased 20 £1 Ordinary Shares for a consideration of £1 million.

23. ULTIMATE CONTROLLING PARTY

The controlling party is J W P Fryett.