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REGISTERED NUMBER: 09380193 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

GMT Group Limited

GMT Group Limited (Registered number: 09380193)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GMT Group Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: G Malek
Mrs A E Olszewska-Malek





REGISTERED OFFICE: 4 Reading Road
Pangbourne
Berkshire
RG8 7LY





REGISTERED NUMBER: 09380193 (England and Wales)





ACCOUNTANTS: Geoffrey Cole & Co
4 Reading Road
Pangbourne
Reading
Berkshire
RG8 7LY

GMT Group Limited (Registered number: 09380193)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 251,750 224,150

CURRENT ASSETS
Debtors 5 336,186 279,679
Cash at bank and in hand 230,904 356,877
567,090 636,556
CREDITORS
Amounts falling due within one year 6 290,609 240,070
NET CURRENT ASSETS 276,481 396,486
TOTAL ASSETS LESS CURRENT
LIABILITIES

528,231

620,636

CREDITORS
Amounts falling due after more than one
year

7

(28,481

)

(25,588

)

PROVISIONS FOR LIABILITIES 10 (55,857 ) (48,505 )
NET ASSETS 443,893 546,543

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 443,793 546,443
443,893 546,543

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

GMT Group Limited (Registered number: 09380193)

Statement of Financial Position - continued
31 January 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 Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





G Malek - Director


GMT Group Limited (Registered number: 09380193)

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

1. STATUTORY INFORMATION

GMT Group 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.

The financial statements have been prepared on a going concern basis, which assumes the company will continue in operational existence, and will be able to meet its liabilities as they fall due, for a period of at least twelve months from the date of approval of the financial statements.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

GMT Group Limited (Registered number: 09380193)

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

2. ACCOUNTING POLICIES - continued

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 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 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023 14,192 430,919 445,111
Additions 2,562 198,608 201,170
Disposals (7,675 ) - (7,675 )
At 31 January 2024 9,079 629,527 638,606
DEPRECIATION
At 1 February 2023 9,630 211,331 220,961
Charge for year 1,742 171,098 172,840
Eliminated on disposal (6,945 ) - (6,945 )
At 31 January 2024 4,427 382,429 386,856
NET BOOK VALUE
At 31 January 2024 4,652 247,098 251,750
At 31 January 2023 4,562 219,588 224,150

GMT Group Limited (Registered number: 09380193)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023 98,956
Additions 164,768
Transfer to ownership (63,786 )
At 31 January 2024 199,938
DEPRECIATION
At 1 February 2023 30,485
Charge for year 64,536
Transfer to ownership (26,578 )
At 31 January 2024 68,443
NET BOOK VALUE
At 31 January 2024 131,495
At 31 January 2023 68,471

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 180,324 217,862
Amounts owed by group undertakings 90,699 -
Amounts recoverable on contract 21,217 11,057
Other debtors 43,946 50,760
336,186 279,679

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 82,929 35,077
Trade creditors 54,718 71,685
Taxation and social security 78,853 105,957
Other creditors 74,109 27,351
290,609 240,070

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 28,481 25,588

GMT Group Limited (Registered number: 09380193)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 82,929 35,077
Between one and five years 28,481 25,588
111,410 60,665

Non-cancellable operating leases
2024 2023
£    £   
Within one year 27,716 -
Between one and five years 44,744 -
72,460 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 111,410 60,665

A Director G Malek has given a personal guarantee with regard to the hire purchase liabilities.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 55,857 48,505

Deferred
tax
£   
Balance at 1 February 2023 48,505
Provided during year 7,352
Balance at 31 January 2024 55,857

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 January 2024 an amount of £14,046 (2023 £14,046) was owed to the company jointly from the directors Mrs A E Olszewska-Malek and Mr G Malek. The amount was provided interest free and was due on demand. The maximum amount outstanding in the period was £17,046.