Registration number:
GTT Wireless Limited
for the Year Ended 30 September 2024
GTT Wireless Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
GTT Wireless Limited
Company Information
Directors |
Mr Andrew John Bird Mrs Helen Ruth Bird |
Registered office |
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Accountants |
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Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
GTT Wireless Limited
for the Year Ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of GTT Wireless Limited for the year ended 30 September 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given me.
As a practising member firm of the Chartered Instituate of Management Accountants, I am subject to its ethical and other professional requirements.
These are detailed at http://www.cimaglobal.com/Professionalism/Professionalism1/.
This report is made solely to the Board of Directors of GTT Wireless Limited, as a body, in accordance with the terms of our engagement letter dated 27 November 2023. My work has been undertaken solely to prepare for your approval the accounts of GTT Wireless Limited and state those matters that I have agreed to state to the Board of Directors of GTT Wireless Limited, as a body, in this report. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than GTT Wireless Limited and its Board of Directors as a body for my work or for this report.
It is your duty to ensure that GTT Wireless Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of GTT Wireless Limited. You consider that GTT Wireless Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the accounts of GTT Wireless Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory accounts.
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AIMS Accountants for Business
Langham
Rutland
LE15 7JE
GTT Wireless Limited
(Registration number: 06469345)
Balance Sheet as at 30 September 2024
Note |
2024 |
(As restated) |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
394,833 |
378,912 |
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Shareholders' funds |
394,933 |
379,012 |
For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
GTT Wireless Limited
(Registration number: 06469345)
Balance Sheet as at 30 September 2024
Approved and authorised by the
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GTT Wireless Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods, excluding discounts, rebates, value added tax and other sales taxes.
Tax
The tax expense for the period 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 balance sheet date.
GTT Wireless Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & Machinery |
20% straight line |
Computer equipment |
33% straight line |
Fixtures & fitting |
33% straight line |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities.
Leases
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.
GTT Wireless Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Computer Equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 October 2023 |
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- |
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Additions |
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- |
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At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
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- |
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Charge for the year |
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- |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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- |
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At 30 September 2023 |
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- |
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- |
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Stocks |
2024 |
(As restated) |
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Other inventories |
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Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Prepayments |
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Other debtors |
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GTT Wireless Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
2024 |
2023 |
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Due after one year |
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Other non-current financial liabilities |
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Related party transactions |
The company paid management charges of £6,669 (2023 £6,648) to its holding company. At the year end the company owed the holding company £670 (2023: £1,360).
Parent and ultimate parent undertaking |
The company's immediate parent is