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REGISTERED NUMBER: 04507848















G T ACCESS LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


G T ACCESS LIMITED

COMPANY INFORMATION
For The Year Ended 31 OCTOBER 2024







DIRECTORS: J M Till
J Till
P A Till
W Bishop
T U C Jones
T O Long





SECRETARY: J M Till





REGISTERED OFFICE: 19 Sherwood Road
Aston Fields Industrial Estate
Bromsgrove
Worcestershire
B60 3DR





REGISTERED NUMBER: 04507848





AUDITORS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

GROUP STRATEGIC REPORT
For The Year Ended 31 OCTOBER 2024


The directors present their strategic report of the company and the group for the year ended 31 October 2024.

REVIEW OF BUSINESS
The results of the year and financial position of the company are shown in the annexed financial statements.

ON BEHALF OF THE BOARD:





J M Till - Director


27 February 2025

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

REPORT OF THE DIRECTORS
For The Year Ended 31 OCTOBER 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 October 2024.

DIVIDENDS
Interim dividends per share were paid as follows:
168.45 - 10 November 2023
168.45 - 8 December 2023
168.45 - 12 January 2024
168.45 - 8 February 2024
168.45 - 13 March 2024
168.45 - 28 March 2024
168.45 - 14 May 2024
168.45 - 7 June 2024
168.45 - 9 July 2024
168.45 - 8 August 2024
168.45 - 6 September 2024
168.45 - 7 October 2024
2021.40

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 October 2024 will be £ 201,423 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

J M Till
J Till
P A Till
W Bishop
T U C Jones
T O Long

Other changes in directors holding office are as follows:

S J Moody - resigned 23 October 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

REPORT OF THE DIRECTORS
For The Year Ended 31 OCTOBER 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Charles Lovell & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J M Till - Director


27 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
G T ACCESS LIMITED


Opinion
We have audited the financial statements of G T Access Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 October 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
G T ACCESS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
G T ACCESS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud and error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the nature of the industry and the sector in which they operate. We determined that the following laws and regulations were most significant; the Companies Act 2006, the UK Corporate Governance Code and UK corporate taxation laws.

- We obtained an understanding of how the Company are complying with those legal and regulatory frameworks by making inquiries with the management of the Company and the Group's audit department.

- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the Audit engagement team included:

- identifying and assessing the design effectiveness of controls that management has in place to
prevent and detect fraud.

- Understanding how those charged with governance considered and addressed the potential for
override of controls or other inappropriate influence over the financial reporting process.

- challenging assumptions and judgements made by management in its significant accounting
estimates.

- identifying and testing journal enteries and performing analytical procedures to identify any unusual
or unexpected relationships that may indicate risks of material misstatement due to fraud.

- assessing the extent of compliance with the relevant laws and regulations.

- We also communicated relevant identified laws and regulations and potential fraud risk to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
G T ACCESS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Hadleigh Burns (Senior Statutory Auditor)
for and on behalf of Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

27 February 2025

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

CONSOLIDATED INCOME STATEMENT
For The Year Ended 31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £   

TURNOVER 3 25,863,470 25,686,832

Cost of sales 13,731,602 13,506,896
GROSS PROFIT 12,131,868 12,179,936

Administrative expenses 9,392,133 9,261,862
2,739,735 2,918,074

Other operating income 551 -
OPERATING PROFIT 5 2,740,286 2,918,074

Interest receivable and similar income 88 -
2,740,374 2,918,074

Interest payable and similar expenses 6 1,190,410 1,045,267
PROFIT BEFORE TAXATION 1,549,964 1,872,807

Tax on profit 7 520,788 1,095,475
PROFIT FOR THE FINANCIAL YEAR 1,029,176 777,332
Profit attributable to:
Owners of the parent 1,029,176 777,332

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
For The Year Ended 31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £   

PROFIT FOR THE YEAR 1,029,176 777,332


OTHER COMPREHENSIVE INCOME
Revaluation reserve (241,066 ) (135,923 )
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

(241,066

)

(135,923

)
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

788,110

641,409

Total comprehensive income attributable to:
Owners of the parent 788,110 641,409

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

CONSOLIDATED BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 2,394,853 2,397,453
Tangible assets 11 37,086,420 36,131,769
Investments 12 - -
39,481,273 38,529,222

CURRENT ASSETS
Stocks 13 141,334 139,127
Debtors 14 6,519,705 6,028,689
Cash at bank 212,624 263,476
6,873,663 6,431,292
CREDITORS
Amounts falling due within one year 15 14,650,152 14,265,128
NET CURRENT LIABILITIES (7,776,489 ) (7,833,836 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,704,784

30,695,386

CREDITORS
Amounts falling due after more than one year 16 (16,604,409 ) (16,570,978 )

PROVISIONS FOR LIABILITIES 20 (4,013,189 ) (3,623,909 )
NET ASSETS 11,087,186 10,500,499

CAPITAL AND RESERVES
Called up share capital 21 100 100
Revaluation reserve 22 370,369 611,435
Retained earnings 22 10,716,717 9,888,964
SHAREHOLDERS' FUNDS 11,087,186 10,500,499

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





J M Till - Director


G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

COMPANY BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 35,911,426 34,244,182
Investments 12 2,921,031 3,421,031
38,832,457 37,665,213

CURRENT ASSETS
Stocks 13 141,334 139,127
Debtors 14 6,558,234 6,019,044
Cash at bank 157,255 142,847
6,856,823 6,301,018
CREDITORS
Amounts falling due within one year 15 15,208,511 14,112,316
NET CURRENT LIABILITIES (8,351,688 ) (7,811,298 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,480,769

29,853,915

CREDITORS
Amounts falling due after more than one year 16 (16,599,979 ) (16,506,053 )

PROVISIONS FOR LIABILITIES 20 (3,805,916 ) (3,488,838 )
NET ASSETS 10,074,874 9,859,024

CAPITAL AND RESERVES
Called up share capital 21 100 100
Retained earnings 22 10,074,774 9,858,924
SHAREHOLDERS' FUNDS 10,074,874 9,859,024

Company's profit for the financial year 417,273 325,168

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





J M Till - Director


G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For The Year Ended 31 OCTOBER 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 November 2022 100 9,325,611 747,358 10,073,069

Changes in equity
Dividends - (213,979 ) - (213,979 )
Total comprehensive income - 777,332 (135,923 ) 641,409
Balance at 31 October 2023 100 9,888,964 611,435 10,500,499

Changes in equity
Dividends - (201,423 ) - (201,423 )
Total comprehensive income - 1,029,176 (241,066 ) 788,110
Balance at 31 October 2024 100 10,716,717 370,369 11,087,186

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

COMPANY STATEMENT OF CHANGES IN EQUITY
For The Year Ended 31 OCTOBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 November 2022 100 9,747,735 9,747,835

Changes in equity
Dividends - (213,979 ) (213,979 )
Total comprehensive income - 325,168 325,168
Balance at 31 October 2023 100 9,858,924 9,859,024

Changes in equity
Dividends - (201,423 ) (201,423 )
Total comprehensive income - 417,273 417,273
Balance at 31 October 2024 100 10,074,774 10,074,874

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

CONSOLIDATED CASH FLOW STATEMENT
For The Year Ended 31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 7,158,384 8,962,188
Interest paid (8,200 ) (21,360 )
Interest element of hire purchase payments
paid

(1,182,210

)

(1,023,907

)
Tax paid (312,923 ) (63,602 )
Net cash from operating activities 5,655,051 7,853,319

Cash flows from investing activities
Purchase of tangible fixed assets (9,396,420 ) (10,483,585 )
Sale of tangible fixed assets 2,375,373 1,787,426
Interest received 88 -
Net cash from investing activities (7,020,959 ) (8,696,159 )

Cash flows from financing activities
Loan repayments in year (200,000 ) (200,000 )
HP Finance additions in year 5,198,375 10,245,475
Capital repayments in year (3,555,548 ) (8,669,209 )
Amount introduced by directors 3,038 10,743
Amount withdrawn by directors (22,625 ) (13,262 )
Invoice discounting 93,239 (121,509 )
Equity dividends paid (201,423 ) (213,979 )
Net cash from financing activities 1,315,056 1,038,259

(Decrease)/increase in cash and cash equivalents (50,852 ) 195,419
Cash and cash equivalents at beginning of
year

2

263,476

68,057

Cash and cash equivalents at end of year 2 212,624 263,476

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
For The Year Ended 31 OCTOBER 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.10.24 31.10.23
£    £   
Profit before taxation 1,549,964 1,872,807
Depreciation charges 6,068,996 6,003,223
Profit on disposal of fixed assets (108,166 ) (110,681 )
Finance costs 1,190,410 1,045,267
Finance income (88 ) -
8,701,116 8,810,616
(Increase)/decrease in stocks (2,207 ) 9,295
Increase in trade and other debtors (471,780 ) (43,017 )
(Decrease)/increase in trade and other creditors (1,068,745 ) 185,294
Cash generated from operations 7,158,384 8,962,188

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2024
31.10.24 1.11.23
£    £   
Cash and cash equivalents 212,624 263,476
Year ended 31 October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 263,476 68,613
Bank overdrafts - (556 )
263,476 68,057


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.11.23 Cash flow At 31.10.24
£    £    £   
Net cash
Cash at bank 263,476 (50,852 ) 212,624
263,476 (50,852 ) 212,624
Debt
Finance leases (23,906,925 ) (1,642,827 ) (25,549,752 )
Debts falling due within 1 year (2,224,849 ) (93,239 ) (2,318,088 )
Debts falling due after 1 year (500,000 ) 200,000 (300,000 )
(26,631,774 ) (1,536,066 ) (28,167,840 )
Total (26,368,298 ) (1,586,918 ) (27,955,216 )

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2024


1. STATUTORY INFORMATION

G T Access Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis.

At the balance sheet date, the company had net current liabilities of £8,351,688.

The company has considered its cashflows for the next 12 months by discounting non cash expenses including depreciation from its profit and loss account and is confident that the company will meet its current obligations as they fall due.

The directors therefore consider it appropriate to prepare the accounts on the going concern basis.

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 is amortised in the year of acquisition.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

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.
Motor vehicles - 25% on reducing balance
Imprvmts to prop - over term of lease
Lorries and Trucks - at varying rates on S/L and R/B
Plant and machinery - 33% on cost, 25% on cost, 25% on reducing balance, 20% on cost, 20% on reducing balance, 10% on cost and at varying rates on cost
Fixtures and fittings - 20% on reducing balance and at varying rates on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued
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.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants relating to fixed assets are treated as deferred income and released over the assets' useful lives. Grants relating to revenue expenditure are recognised in the profit and loss account in the period in which the relevant costs are incurred.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

4. EMPLOYEES AND DIRECTORS
31.10.24 31.10.23
£    £   
Wages and salaries 6,164,331 5,710,374
Social security costs 637,830 598,146
Other pension costs 127,255 105,406
6,929,416 6,413,926

The average number of employees during the year was as follows:
31.10.24 31.10.23

Admin / office 65 52
Engineers 51 50
Drivers 41 41
Yard 3 3
Training 7 2
167 148

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


4. EMPLOYEES AND DIRECTORS - continued

31.10.24 31.10.23
£    £   
Directors' remuneration 351,683 332,676

Information regarding the highest paid director is as follows:
31.10.24 31.10.23
£    £   
Emoluments etc 94,750 90,589

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.10.24 31.10.23
£    £   
Hire of plant and machinery 3,755 335
Depreciation - owned assets 1,893,657 1,888,614
Depreciation - assets on hire purchase contracts 4,172,739 4,106,186
Profit on disposal of fixed assets (108,166 ) (110,681 )
Goodwill amortisation 2,600 2,600
Development costs amortisation - 5,823
Auditors' remuneration 35,019 36,548

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.10.24 31.10.23
£    £   
Interest payable 8,200 21,360
Hire purchase interest 1,179,223 1,019,758
HP admin charges 2,987 4,149
1,190,410 1,045,267

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.10.24 31.10.23
£    £   
Current tax:
UK corporation tax 250,500 361,976
Prior year adjustment 4,465 (30,372 )
Total current tax 254,965 331,604

Deferred tax 265,823 763,871
Tax on profit 520,788 1,095,475

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.10.24 31.10.23
£    £   
Profit before tax 1,549,964 1,872,807
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

387,491

355,833

Effects of:
Expenses not deductible for tax purposes (18,818 ) 81,433
Income not taxable for tax purposes 39,440 43,834
Depreciation in excess of capital allowances 114,110 666,754
Utilisation of tax losses (3,922 ) (87,889 )

Prior year adjustment 2,487 (30,372 )
Adjustment for previous tax rate until tax year - 65,882
Total tax charge 520,788 1,095,475

Tax effects relating to effects of other comprehensive income

31.10.24
Gross Tax Net
£    £    £   
Revaluation reserve (241,066 ) - (241,066 )

31.10.23
Gross Tax Net
£    £    £   
Revaluation reserve (135,923 ) - (135,923 )

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
31.10.24 31.10.23
£    £   
Ordinary shares of £1 each
Interim 201,423 213,979

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


10. INTANGIBLE FIXED ASSETS

Group
Development
Goodwill costs Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 2,519,753 83,769 2,603,522
AMORTISATION
At 1 November 2023 122,300 83,769 206,069
Amortisation for year 2,600 - 2,600
At 31 October 2024 124,900 83,769 208,669
NET BOOK VALUE
At 31 October 2024 2,394,853 - 2,394,853
At 31 October 2023 2,397,453 - 2,397,453

Company
Development
Goodwill costs Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 108,000 83,769 191,769
AMORTISATION
At 1 November 2023
and 31 October 2024 108,000 83,769 191,769
NET BOOK VALUE
At 31 October 2024 - - -
At 31 October 2023 - - -

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


11. TANGIBLE FIXED ASSETS

Group
Lorries
Motor Imprvmts and
vehicles to prop Trucks
£    £    £   
COST OR VALUATION
At 1 November 2023 2,350,451 255,408 3,957,173
Additions 218,133 154,000 1,084,874
Disposals (247,753 ) - (235,564 )
At 31 October 2024 2,320,831 409,408 4,806,483
DEPRECIATION
At 1 November 2023 921,146 45,093 1,908,045
Charge for year 391,179 42,493 623,894
Eliminated on disposal (169,043 ) - (203,823 )
At 31 October 2024 1,143,282 87,586 2,328,116
NET BOOK VALUE
At 31 October 2024 1,177,549 321,822 2,478,367
At 31 October 2023 1,429,305 210,315 2,049,128

Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2023 48,480,684 28,358 65,497 55,137,571
Additions 7,939,413 - - 9,396,420
Disposals (5,773,524 ) - - (6,256,841 )
At 31 October 2024 50,646,573 28,358 65,497 58,277,150
DEPRECIATION
At 1 November 2023 16,042,945 23,725 64,848 19,005,802
Charge for year 5,005,978 2,296 556 6,066,396
Eliminated on disposal (3,508,602 ) - - (3,881,468 )
At 31 October 2024 17,540,321 26,021 65,404 21,190,730
NET BOOK VALUE
At 31 October 2024 33,106,252 2,337 93 37,086,420
At 31 October 2023 32,437,739 4,633 649 36,131,769

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


11. TANGIBLE FIXED ASSETS - continued

Group

Cost or valuation at 31 October 2024 is represented by:

Lorries
Motor Imprvmts and
vehicles to prop Trucks
£    £    £   
Cost 2,320,831 409,408 4,806,483

Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost 50,646,573 28,358 65,497 58,277,150

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Lorries
Motor and Plant and
vehicles Trucks machinery Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2023 1,373,970 2,955,579 32,954,012 37,283,561
Additions 218,133 1,064,224 7,907,765 9,190,122
Disposals (21,492 ) - (143,428 ) (164,920 )
Transfer to ownership (390,427 ) (228,313 ) (4,672,596 ) (5,291,336 )
At 31 October 2024 1,180,184 3,791,490 36,045,753 41,017,427
DEPRECIATION
At 1 November 2023 309,398 1,100,117 5,243,011 6,652,526
Charge for year 208,142 545,454 3,419,143 4,172,739
Eliminated on disposal (13,797 ) - (80,494 ) (94,291 )
Transfer to ownership (136,339 ) (145,092 ) (2,316,059 ) (2,597,490 )
At 31 October 2024 367,404 1,500,479 6,265,601 8,133,484
NET BOOK VALUE
At 31 October 2024 812,780 2,291,011 29,780,152 32,883,943
At 31 October 2023 1,064,572 1,855,462 27,711,001 30,631,035

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


11. TANGIBLE FIXED ASSETS - continued

Company
Lorries
Motor Imprvmts and
vehicles to prop Trucks
£    £    £   
COST
At 1 November 2023 2,305,538 214,390 3,957,173
Additions 218,133 154,000 1,084,874
Disposals (88,298 ) - (235,564 )
At 31 October 2024 2,435,373 368,390 4,806,483
DEPRECIATION
At 1 November 2023 962,480 10,703 1,908,045
Charge for year 362,638 36,365 623,894
Eliminated on disposal (49,553 ) - (203,823 )
At 31 October 2024 1,275,565 47,068 2,328,116
NET BOOK VALUE
At 31 October 2024 1,159,808 321,322 2,478,367
At 31 October 2023 1,343,058 203,687 2,049,128

Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023 47,236,535 23,358 60,712 53,797,706
Additions 7,939,412 - - 9,396,419
Disposals (4,935,363 ) - - (5,259,225 )
At 31 October 2024 50,240,584 23,358 60,712 57,934,900
DEPRECIATION
At 1 November 2023 16,591,655 19,929 60,712 19,553,524
Charge for year 4,634,089 2,055 - 5,659,041
Eliminated on disposal (2,935,715 ) - - (3,189,091 )
At 31 October 2024 18,290,029 21,984 60,712 22,023,474
NET BOOK VALUE
At 31 October 2024 31,950,555 1,374 - 35,911,426
At 31 October 2023 30,644,880 3,429 - 34,244,182

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


11. TANGIBLE FIXED ASSETS - continued

Company

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Lorries
Motor and Plant and
vehicles Trucks machinery Totals
£    £    £    £   
COST
At 1 November 2023 1,335,801 2,955,579 34,913,289 39,204,669
Additions 218,133 1,064,224 7,907,764 9,190,121
Transfer to ownership (390,427 ) (228,313 ) (4,175,735 ) (4,794,475 )
At 31 October 2024 1,163,507 3,791,490 38,645,318 43,600,315
DEPRECIATION
At 1 November 2023 368,107 1,100,117 7,913,841 9,382,065
Charge for year 172,049 545,454 3,345,871 4,063,374
Transfer to ownership (136,339 ) (145,092 ) (1,994,568 ) (2,275,999 )
At 31 October 2024 403,817 1,500,479 9,265,144 11,169,440
NET BOOK VALUE
At 31 October 2024 759,690 2,291,011 29,380,174 32,430,875
At 31 October 2023 967,694 1,855,462 26,999,448 29,822,604

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 November 2023 3,421,031
Impairments (500,000 )
At 31 October 2024 2,921,031
NET BOOK VALUE
At 31 October 2024 2,921,031
At 31 October 2023 3,421,031


13. STOCKS

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Machine parts stock 141,334 139,127 141,334 139,127

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Trade debtors 5,857,116 5,555,525 5,857,116 5,524,883
Amounts owed by group undertakings 400 1,600 2,400 52,600
Other debtors 242,747 400,846 242,746 370,843
Directors' current accounts 19,236 - 19,236 -
VAT 245,616 - 282,146 -
Prepayments and accrued income 154,590 70,718 154,590 70,718
6,519,705 6,028,689 6,558,234 6,019,044

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Bank loans and overdrafts (see note 17) 200,000 200,000 200,000 200,000
Other loans (see note 17) 2,118,088 2,024,849 2,118,088 2,024,849
Hire purchase contracts (see note 18) 9,245,343 7,835,947 9,184,847 7,584,492
Trade creditors 1,760,451 1,644,839 2,439,677 2,041,853
Amounts owed to group undertakings - - 62,500 -
Tax 250,412 308,370 158,181 210,512
Social security and other taxes 246,868 651,627 242,728 651,627
VAT - 167,916 - -
Other creditors 443,371 918,541 443,371 916,944
AXS Sales Limited 20,000 20,000 - -
Directors' current accounts - 351 - 351
Accruals and deferred income 365,619 492,688 359,119 481,688
14,650,152 14,265,128 15,208,511 14,112,316

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Bank loans (see note 17) 300,000 500,000 300,000 500,000
Hire purchase contracts (see note 18) 16,304,409 16,070,978 16,299,979 16,006,053
16,604,409 16,570,978 16,599,979 16,506,053

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


17. LOANS

An analysis of the maturity of loans is given below:

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 200,000 200,000 200,000 200,000
Invoice discounting 2,118,088 2,024,849 2,118,088 2,024,849
2,318,088 2,224,849 2,318,088 2,224,849
Amounts falling due between two and five years:
Bank loans - 2-5 years 300,000 500,000 300,000 500,000

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.10.24 31.10.23
£    £   
Gross obligations repayable:
Within one year 9,246,598 7,843,937
Between one and five years 16,304,485 16,072,309
25,551,083 23,916,246

Finance charges repayable:
Within one year 1,255 7,990
Between one and five years 76 1,331
1,331 9,321

Net obligations repayable:
Within one year 9,245,343 7,835,947
Between one and five years 16,304,409 16,070,978
25,549,752 23,906,925

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


18. LEASING AGREEMENTS - continued

Company
Hire purchase contracts
31.10.24 31.10.23
£    £   
Net obligations repayable:
Within one year 9,184,847 7,584,492
Between one and five years 16,299,979 16,006,053
25,484,826 23,590,545

Company
Non-cancellable operating leases
31.10.24 31.10.23
£    £   
Within one year 333,850 333,850
Between one and five years 1,231,050 1,231,050
In more than five years 1,495,500 1,735,500
3,060,400 3,300,400

19. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Invoice discounting 2,118,088 2,024,849 2,118,088 2,024,849
Hire purchase contracts 25,549,752 23,906,925 25,484,826 23,590,545
27,667,840 25,931,774 27,602,914 25,615,394

The company operates an invoice discounting system which are secured on the book debts of the company.

On 18 January 2018 a negative pledge and a fixed and floating charge (covering all property or undertaking of the company) was created in favour of Lloyds Bank PLC.

On 19 January 2018 a negative pledge and a fixed charge was created in favour of Lloyds Bank PLC.

20. PROVISIONS FOR LIABILITIES

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Deferred tax 4,013,189 3,623,909 3,805,916 3,488,838

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


20. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 November 2023 3,623,909
Accelerated capital allowances 389,280
Balance at 31 October 2024 4,013,189

Company
Deferred
tax
£   
Balance at 1 November 2023 3,488,838
Provided during year 317,078
Accelerated capital allowances
Balance at 31 October 2024 3,805,916

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary £1 100 100

22. RESERVES

Group
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 November 2023 9,888,964 611,435 10,500,399
Profit for the year 1,029,176 1,029,176
Dividends (201,423 ) (201,423 )
Surplus for year - (117,610 ) (117,610 )
Deferred tax - (123,456 ) (123,456 )
At 31 October 2024 10,716,717 370,369 11,087,086

G T ACCESS LIMITED (REGISTERED NUMBER: 04507848)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


22. RESERVES - continued

Company
Retained
earnings
£   

At 1 November 2023 9,858,924
Profit for the year 417,273
Dividends (201,423 )
At 31 October 2024 10,074,774


23. RELATED PARTY DISCLOSURES

The company occupies premises that are owned by Mr J M Till, director. The company paid £21,000 (2023: £21,000) for the rental of these premises and the directors feel that this is an open market rate for these premises.

The company paid ground rent of £1,800 during the year (2023: £1,800) to Mrs P A Till, director. The directors feel that this is an open market rate for these premises. At the year end the company owed P A Till £nil (2023: £nil).

During the year the company paid rent of £250,000 (2023: £248,400) to GTAccess Stoke Limited, a company wholly owned by Mr J M Till, director. At the year end the company was owed £156,339 from GTAccess Stoke Limited (2023: £284,139).

During the year the company had the following transactions with AXS Sales Limited, a company in which Mr J M Till is materially interested and acts as director.

2024 2023
£ £

Machines sold (received) - 6,500
Expenses recharged (received) - -
Rent (paid) 66,000 66,000
Commissions (paid) 330,000 380,000
Rehire machine charges (paid) - -
Management charge (paid) - -
Balance due from / (to) AXS Sales Limited at year end 44,240 23,190



24. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the entity is Mr J M Till and Mrs P A Till by virtue of their shareholding.