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REGISTERED NUMBER: 09996662 (England and Wales)












GSD TECHNOLOGIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






GSD TECHNOLOGIES LTD (REGISTERED NUMBER: 09996662)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GSD TECHNOLOGIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: G R Gough
Mrs S L Gough
D A Peck





REGISTERED OFFICE: Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR





BUSINESS ADDRESS: Unit 8
Hermitage Park
Harts Farm Way
Havant
Hampshire
PO9 1FA





REGISTERED NUMBER: 09996662 (England and Wales)

GSD TECHNOLOGIES LTD (REGISTERED NUMBER: 09996662)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 280,263 216,977

CURRENT ASSETS
Debtors 5 329,311 253,007
Cash at bank 7,416 41,294
336,727 294,301
CREDITORS
Amounts falling due within one year 6 (205,109 ) (268,724 )
NET CURRENT ASSETS 131,618 25,577
TOTAL ASSETS LESS CURRENT
LIABILITIES

411,881

242,554

CREDITORS
Amounts falling due after more than one
year

7

(152,142

)

(84,825

)

PROVISIONS FOR LIABILITIES (82,465 ) (64,546 )
NET ASSETS 177,274 93,183

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 177,174 93,083
177,274 93,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

GSD TECHNOLOGIES LTD (REGISTERED NUMBER: 09996662)

BALANCE SHEET - continued
29 FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





G R Gough - Director


GSD TECHNOLOGIES LTD (REGISTERED NUMBER: 09996662)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

GSD Technologies Ltd 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 FRS 102 "The Financial Reporting Standards 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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - Over the length of the lease
Plant and machinery - Straight line over 10 years
Motor vehicles - Straight line over 4 years

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 recognised in the income statement.

Government grants
The following government grants were received in the prior year:

Business Support Grant Funds: the accrual model has been used to recognise the grant when it is received or becomes receivable, as there are no future related costs or performance conditions.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


GSD TECHNOLOGIES LTD (REGISTERED NUMBER: 09996662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 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.

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.

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.

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.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

GSD TECHNOLOGIES LTD (REGISTERED NUMBER: 09996662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Improvements Plant and Motor
to property machinery vehicles Totals
£ £ £ £
COST
At 1 March 2023 11,218 303,579 43,079 357,876
Additions - 3,435 129,405 132,840
At 29 February 2024 11,218 307,014 172,484 490,716
DEPRECIATION
At 1 March 2023 2,246 137,755 898 140,899
Charge for year 1,123 30,702 37,729 69,554
At 29 February 2024 3,369 168,457 38,627 210,453
NET BOOK VALUE
At 29 February 2024 7,849 138,557 133,857 280,263
At 28 February 2023 8,972 165,824 42,181 216,977

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 178,751 100,036
Other debtors 150,560 152,971
329,311 253,007

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 29,802 16,398
Trade creditors 3,125 12,473
Taxation and social security 106,450 176,248
Other creditors 55,732 53,605
205,109 268,724

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 12,500 22,500
Hire purchase contracts 139,642 62,325
152,142 84,825

GSD TECHNOLOGIES LTD (REGISTERED NUMBER: 09996662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 169,444 78,723

Hire purchase contracts are secured on the assets to which they relate.

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases which totalled £137,628 (2023: £192,492).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £13,830 (2023: £20,511) were made to the company's directors. £4,285 (2023: £14,185) was repaid prior to the year-end. The balance outstanding at the year-end was £82,581 (2023: £73,036). Interest has been charged at HMRC's official rate and the advances are repayable on demand.