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REGISTERED NUMBER: 12807620 (England and Wales)
















Financial Statements

for the Year Ended 31 August 2024

for

Gl Transport Solutions Ltd

Gl Transport Solutions Ltd (Registered number: 12807620)

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










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Gl Transport Solutions Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mrs G F Mcintyre
Miss C E Morphew





REGISTERED OFFICE: 8 Leys Close
Wroxton
Banbury
OX15 6QP





REGISTERED NUMBER: 12807620 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Gl Transport Solutions Ltd

Report of the Accountants to the Directors of
Gl Transport Solutions Ltd


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

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GCSD Accountants Limited


29 January 2025

Gl Transport Solutions Ltd (Registered number: 12807620)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,547 11,074
Tangible assets 5 43,079 44,376
52,626 55,450

CURRENT ASSETS
Debtors 6 3,892 20,975
Cash at bank 1,459 9,951
5,351 30,926
CREDITORS
Amounts falling due within one year 7 5,064 28,377
NET CURRENT ASSETS 287 2,549
TOTAL ASSETS LESS CURRENT LIABILITIES 52,913 57,999

CREDITORS
Amounts falling due after more than one
year

8

(8,366

)

-

PROVISIONS FOR LIABILITIES (4,972 ) (4,741 )
NET ASSETS 39,575 53,258

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 39,475 53,158
39,575 53,258

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

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

Gl Transport Solutions Ltd (Registered number: 12807620)

Balance Sheet - continued
31 August 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 January 2025 and were signed on its behalf by:





Miss C E Morphew - Director


Gl Transport Solutions Ltd (Registered number: 12807620)

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


1. STATUTORY INFORMATION

Gl Transport Solutions 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible goodwill - 10% straight line

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 10% straight line
Motor vehicles - 25% on reducing balance
Office Equipment - 33% straight line
Computer Equipment - 25% straight line

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.

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.

Gl Transport Solutions Ltd (Registered number: 12807620)

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


2. ACCOUNTING POLICIES - continued

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 15,275
AMORTISATION
At 1 September 2023 4,201
Charge for year 1,527
At 31 August 2024 5,728
NET BOOK VALUE
At 31 August 2024 9,547
At 31 August 2023 11,074

Gl Transport Solutions Ltd (Registered number: 12807620)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 80,918
Additions 18,109
Disposals (16,995 )
At 31 August 2024 82,032
DEPRECIATION
At 1 September 2023 36,542
Charge for year 12,469
Eliminated on disposal (10,058 )
At 31 August 2024 38,953
NET BOOK VALUE
At 31 August 2024 43,079
At 31 August 2023 44,376

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 10,970
Other debtors 3,892 10,005
3,892 20,975

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 2,922 3,368
Trade creditors 180 11,677
Taxation and social security 247 9,747
Other creditors 1,715 3,585
5,064 28,377

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 8,366 -

Gl Transport Solutions Ltd (Registered number: 12807620)

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


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Miss C E Morphew
Balance outstanding at start of year 4,869 13,562
Amounts advanced 18,357 24,105
Amounts repaid (19,857 ) (32,798 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,369 4,869

The overdrawn balance was repaid within 9 months of the year end.