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REGISTERED NUMBER: 09462436 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 March 2024

for

GFC Economics Ltd

GFC Economics Ltd (Registered number: 09462436)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


GFC Economics Ltd (Registered number: 09462436)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 1,125,694 1,050,000
1,125,694 1,050,000

CURRENT ASSETS
Debtors 6 51,517 91,688
Cash at bank 73,181 114,416
124,698 206,104
CREDITORS
Amounts falling due within one year 7 (165,161 ) (179,197 )
NET CURRENT (LIABILITIES)/ASSETS (40,463 ) 26,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,085,231

1,076,907

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 75,694 -
Retained earnings 1,009,437 1,076,807
1,085,231 1,076,907

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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 October 2024 and were signed by:



G P Turner - Director


GFC Economics Ltd (Registered number: 09462436)

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

1. STATUTORY INFORMATION

GFC Economics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09462436

Registered office: Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

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.
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

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.

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.

Investments
Fixed asset investments are stated at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in fair value reserves.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

GFC Economics Ltd (Registered number: 09462436)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 1,695
DEPRECIATION
At 1 April 2023
and 31 March 2024 1,695
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 1,050,000
Revaluations 75,694
At 31 March 2024 1,125,694
NET BOOK VALUE
At 31 March 2024 1,125,694
At 31 March 2023 1,050,000

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2024 75,694
Cost 1,050,000
1,125,694

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,500 80,196
Other debtors 780 1,686
Directors' loan accounts 6,543 3,046
Prepayments and accrued income 6,694 6,760
51,517 91,688

GFC Economics Ltd (Registered number: 09462436)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,000 3,000
Tax 13,152 36,396
VAT 23,215 26,686
Other creditors 21,239 766
Accruals and deferred income 104,555 112,349
165,161 179,197

8. RESERVES
Fair
value
reserve
£   
Investment revaluation 75,694

At 31 March 2024 75,694

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:

20242023
££

Amount advanced£169,508£102,992

Amount repaid

(£166,010

)

(£99,348

)

The loan to the director is repayable on demand. Interest is charged on all loans at the official rate of interest set by HMRC.