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REGISTERED NUMBER: 11930595 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GCG ENTERPRISE LTD

GCG ENTERPRISE LTD (REGISTERED NUMBER: 11930595)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GCG ENTERPRISE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr G Daramola





REGISTERED OFFICE: Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 11930595 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

GCG ENTERPRISE LTD (REGISTERED NUMBER: 11930595)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,536 43,586
Investment property 5 3,538,731 2,728,374
3,593,267 2,771,960

CURRENT ASSETS
Debtors 6 414 -
Cash in hand 10 10
424 10
CREDITORS
Amounts falling due within one year 7 435,460 207,195
NET CURRENT LIABILITIES (435,036 ) (207,185 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,158,231

2,564,775

CREDITORS
Amounts falling due after more than one
year

8

2,435,974

1,810,696
NET ASSETS 722,257 754,079

CAPITAL AND RESERVES
Called up share capital 9 10 10
Share premium 765,929 765,929
Retained earnings (43,682 ) (11,860 )
SHAREHOLDERS' FUNDS 722,257 754,079

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.

GCG ENTERPRISE LTD (REGISTERED NUMBER: 11930595)

STATEMENT OF FINANCIAL POSITION - 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 30 January 2025 and were signed by:





Mr G Daramola - Director


GCG ENTERPRISE LTD (REGISTERED NUMBER: 11930595)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

GCG Enterprise 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 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

GCG ENTERPRISE LTD (REGISTERED NUMBER: 11930595)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 April 2023 4,900 70,480 1,469 76,849
Additions 7,000 15,040 - 22,040
At 31 March 2024 11,900 85,520 1,469 98,889
Depreciation
At 1 April 2023 2,144 30,835 284 33,263
Charge for year 689 9,911 490 11,090
At 31 March 2024 2,833 40,746 774 44,353
Net book value
At 31 March 2024 9,067 44,774 695 54,536
At 31 March 2023 2,756 39,645 1,185 43,586

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023 2,728,374
Additions 810,357
At 31 March 2024 3,538,731
Net book value
At 31 March 2024 3,538,731
At 31 March 2023 2,728,374

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 414 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 435,460 207,195

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,435,974 1,810,696

GCG ENTERPRISE LTD (REGISTERED NUMBER: 11930595)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,435,974 1,810,696

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10