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REGISTERED NUMBER: 11239204 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

GM Northeast Limited

GM Northeast Limited (Registered number: 11239204)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

GM Northeast Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr M Ikram





REGISTERED OFFICE: 3 Berrymoor Court
Northumberlaned Business Park
Cramlington
Northumberland
NE23 7RZ





REGISTERED NUMBER: 11239204 (England and Wales)





ACCOUNTANTS: AWS Accountancy Limited
3 Berrymoor Court
Northumberland Business Park
Cramlington
Northumberland
NE23 7RZ

GM Northeast Limited (Registered number: 11239204)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 13,000 16,250
Tangible assets 5 192,088 159,057
205,088 175,307

CURRENT ASSETS
Debtors 6 208,247 103,302
Cash at bank and in hand 86,868 91,594
295,115 194,896
CREDITORS
Amounts falling due within one year 7 138,686 124,887
NET CURRENT ASSETS 156,429 70,009
TOTAL ASSETS LESS CURRENT
LIABILITIES

361,517

245,316

CREDITORS
Amounts falling due after more than one
year

8

143,665

109,887
NET ASSETS 217,852 135,429

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 217,851 135,428
SHAREHOLDERS' FUNDS 217,852 135,429

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GM Northeast Limited (Registered number: 11239204)

Balance Sheet - continued
31 March 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 director and authorised for issue on 28 November 2024 and were signed by:





Mr M Ikram - Director


GM Northeast Limited (Registered number: 11239204)

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

1. STATUTORY INFORMATION

GM Northeast 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.

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.

Franchise fee are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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.

Hire purchase and leasing commitments
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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

GM Northeast Limited (Registered number: 11239204)

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

4. INTANGIBLE FIXED ASSETS
Franchise
fee
£
COST
At 1 April 2023
and 31 March 2024 32,500
AMORTISATION
At 1 April 2023 16,250
Amortisation for year 3,250
At 31 March 2024 19,500
NET BOOK VALUE
At 31 March 2024 13,000
At 31 March 2023 16,250

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 April 2023 9,341 200,382 9,236 218,959
Additions 2,364 119,168 5,489 127,021
Disposals (1,167 ) (41,141 ) - (42,308 )
At 31 March 2024 10,538 278,409 14,725 303,672
DEPRECIATION
At 1 April 2023 5,196 50,096 4,610 59,902
Charge for year 801 59,649 1,517 61,967
Charge written back - (10,285 ) - (10,285 )
At 31 March 2024 5,997 99,460 6,127 111,584
NET BOOK VALUE
At 31 March 2024 4,541 178,949 8,598 192,088
At 31 March 2023 4,145 150,286 4,626 159,057

GM Northeast Limited (Registered number: 11239204)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors 25,983 46,329
Other debtors 1,200 1,200
Directors' loan accounts 151,595 42,486
Tax 24,163 9,276
VAT 658 -
Prepayments 4,648 4,011
208,247 103,302

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans and overdrafts 34,621 15,621
Hire purchase contracts 46,298 36,942
Trade creditors 14,738 9,078
Tax 39,566 46,586
Social security and other taxes 2,763 501
VAT - 15,078
Other creditors - 81
Accrued expenses 700 1,000
138,686 124,887

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£ £
Bank loans - 2-5 years 15,166 28,166
Hire purchase contracts 128,499 81,721
143,665 109,887

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£ £
Mr M Ikram
Balance outstanding at start of year 42,486 10,561
Amounts advanced 149,860 72,525
Amounts repaid (40,751 ) (40,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 151,595 42,486

GM Northeast Limited

Report of the Accountants to the Director of
GM Northeast Limited

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages one to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






AWS Accountancy Limited
3 Berrymoor Court
Northumberland Business Park
Cramlington
Northumberland
NE23 7RZ


28 November 2024