01 July 2023 30 June 2024 No principle activity is included 03147423 2023-07-01 03147423 2024-06-30 03147423 2023-07-01 2024-06-30 03147423 2023-06-30 03147423 2022-07-01 2023-06-30 03147423 uk-core:WithinOneYear 2024-06-30 03147423 uk-core:WithinOneYear 2023-06-30 03147423 uk-core:AfterOneYear 2024-06-30 03147423 uk-core:AfterOneYear 2023-06-30 03147423 uk-core:ShareCapital 2024-06-30 03147423 uk-core:ShareCapital 2023-06-30 03147423 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 03147423 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 03147423 uk-bus:Director1 2023-07-01 2024-06-30 03147423 uk-bus:RegisteredOffice 2023-07-01 2024-06-30 03147423 uk-curr:PoundSterling 2023-07-01 2024-06-30 03147423 uk-core:NetGoodwill 2023-06-30 03147423 uk-core:NetGoodwill 2024-06-30 03147423 uk-core:Non-currentFinancialInstruments uk-core:CostValuation 2023-06-30 03147423 uk-core:Non-currentFinancialInstruments uk-core:CostValuation 2024-06-30 03147423 uk-core:Non-currentFinancialInstruments uk-core:ProvisionsForImpairmentInvestments 2024-06-30 03147423 uk-core:Non-currentFinancialInstruments 2024-06-30 03147423 uk-core:Non-currentFinancialInstruments 2023-06-30 03147423 uk-core:BetweenTwoFiveYears 2024-06-30 03147423 uk-core:BetweenTwoFiveYears 2023-06-30 03147423 uk-bus:FRS102 2023-07-01 2024-06-30 03147423 uk-bus:FullAccounts 2023-07-01 2024-06-30 03147423 uk-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03147423 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  GCL DIRECT LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 30 JUNE 2024
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  GCL DIRECT LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 30 JUNE 2024
       
       
  DIRECTOR
       
  G Crowder
       
       
  SECRETARY
       
  L M Callaghan
       
  REGISTERED OFFICE
       
  78 Birmingham Street
Oldbury
Warley
West Midlands
B69 4EB
       
       
  COMPANY REGISTERED NUMBER
       
  03147423
       
       
  BANKERS
       
  Bank of Scotland
59 Bath Street
Glasgow
G2 2DH
       
       
  ACCOUNTANTS
       
  Lyness Accountancy Practice Limited
  Chartered Certified Accountants
  78 Birmingham Street
Oldbury
Warley
West Midlands
B69 4EB
       
       
       
       
       
       
       
       
       
       
       
       
       
       
  page 1
  GCL DIRECT LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 30 JUNE 2024
       
       
  CONTENTS
       
  Pages
       
       
  3-4 Statement of Financial Position  
       
       
  5-8 Notes to the Financial Statements  
       
     
  page 2
  GCL DIRECT LIMITED
  Company registered number: 03147423
  STATEMENT OF FINANCIAL POSITION AT 30 June 2024
           
    Note 2024 2023
      £ £ £
  FIXED ASSETS
  Investments held as fixed assets 4 324,387 324,387
  CURRENT ASSETS    
  Debtors 5 (120,502) (36,400)
  Cash at bank and in hand   8,430 11,264
      (112,072) (25,136)
  CREDITORS: Amounts falling due within one year 6 311,752 392,046
  NET CURRENT LIABILITIES   (423,824) (417,182)
  TOTAL ASSETS LESS CURRENT LIABILITIES   (99,437) (92,795)
           
  CREDITORS: Amounts falling due after more than one year 7 - (6,670)
  NET LIABILITIES   99,437) 99,465)
       
  CAPITAL AND RESERVES
  Called up share capital   100 100
  Retained earnings   (99,537) (99,565)
  SHAREHOLDERS' FUNDS   99,437) 99,465)
       
  The notes on pages 5-8 form part of these financial statements
   
  page 3
  GCL DIRECT LIMITED
  Company registered number: 03147423
  STATEMENT OF FINANCIAL POSITION AT 30 June 2024 (CONT.)
           
    Note 2024 2023
      £ £ £
       
       
  In approving these financial statements as director of the company I hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 25/03/2025
 
  Signed on behalf of the board of directors
 
 
       
  G Crowder, Director
       
       
  The notes on pages 5-8 form part of these financial statements
   
  page 4
  GCL DIRECT LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 30 JUNE 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  GCL Direct Limited, company number 03147423 is a private company limited by shares incorporated in England & Wales.
         
  Registered office:
  78 Birmingham Street
Oldbury
Warley
West Midlands
B69 4EB
         
1b. Basis of accounting
         
  These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.
         
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
         
1e. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1f. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
  The notes on pages 5-8 form part of these financial statements
   
  page 5
  GCL DIRECT LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 JUNE 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1g. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1h. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1i. Foreign currencies
         
  Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
         
         
1j. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2024 2023
    No. No.
  Average number of employees 27 30
   
  The notes on pages 5-8 form part of these financial statements
   
  page 6
  GCL DIRECT LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 JUNE 2024
       
       
3. INTANGIBLE FIXED ASSETS
       
    Goodwill Total
    £ £
  Cost
       
  At 1 July 2023 2,000 2,000
  At 30 June 2024 2,000 2,000
  Amortisation
       
  At 1 July 2023 2,000 2,000
  At 30 June 2024 2,000 2,000
   
  Net Book Amounts
       
  At 30 June 2024 - -
   
       
       
4. INVESTMENTS HELD AS FIXED ASSETS
       
       
    Other  
    loans Total
    £ £
  Cost or valuation
       
  At 1 July 2023 324,387 324,387
  At 30 June 2024 324,387 324,387
   
  Amounts written off
       
  At 30 June 2024 - -
   
  Net Book Amounts
       
  At 30 June 2024 324,387 324,387
  At 30 June 2023 324,387 324,387
   
  The notes on pages 5-8 form part of these financial statements
   
  page 7
  GCL DIRECT LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 JUNE 2024
       
       
5. DEBTORS 2024 2023
    £ £
  Trade debtors (124,519) (40,417)
  Other debtors 4,017 4,017
    120,502) 36,400)
   
       
       
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2024 2023
    £ £
  Factoring facility 189,137 189,137
  Finance leases and hire purchase contracts - 3,330
  Trade creditors 10,059 79,022
  Other taxes and social security 43,800 51,304
  Other creditors 7 7
  Accruals and deferred income 68,749 69,246
    £311,752 £392,046
   
       
       
       
7. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2024 2023
    £ £
  Finance leases and hire purchase contracts - 6,670
    £- £6,670
   
       
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  leases - 3,330
  other 189,137 189,137
  within 2-5 years
  leases - 6,670
    £189,137 £199,137
   
  The notes on pages 5-8 form part of these financial statements
   
  page 8